Index coop & fuse partnership - request for feedback

CONTEXT

We believe that the missions of Fuse and Index Coop are strongly aligned.

The Index Coop is focused on making investing into crypto simple, by creating products that help users get broad exposure to different sectors or themes across crypto.

Fuse is laser-focused on making DeFi accessible to the remaining 99%, who are currently not being served, by combining scalable infrastructure with the simplicity of consumer-friendly interfaces.

OVERVIEW OF FUSE PRODUCTS AND THE PROTOCOL

  • Fuse Network: Is an EVM-compatible dPOS blockchain, optimized for payments with over 12 millions transactions to date and 400K+ wallets generated
  • Fuse Studio: Is a desktop-based launch platform for payment systems and micro-economies, that features user onboarding tools and token minting functionality. Over 1200 communities have been created to date
  • FuseSwap: Is an AMM-based DEX inspired by Uniswap
  • Fuse Wallet Core: Is a sandbox mobile wallet for early stage projects building on Fuse. Forkable on Github
  • Fuse Cash: Is a mobile app providing access to DeFi for retail clients, featuring direct fiat on ramps, swaps, stablecoin earning, p2p payments and more
  • Ola Finance: Is a lending network on Fuse, established in collaboration with a 3rd party, that allows for unique instances that include tailend assets like Fuse to be added for lending and borrowing

We have shown our ability to execute, by supporting the implementation of projects like:

  • GoodDollar, a Digital Basic Income which boasts over 40K daily active users according to dapp.com.
  • Kolektivo Labs, a regenerative economy project on the island of Curacao.
  • The Cannons Creek token community in New Zealand, and
  • Peepl Eat a decentralized food delivery service (think Deliveroo but with a token model designed to ensure local economies benefit).

More importantly, in the case of Index Coop, we recently launched Fuse Cash - a “DeFi in Your Pocket” mobile app that has token swapping functionality and offers users the ability to earn yield on stable coins. The target audience is noobs. We aim to have 10 million users by 2024.

DeFi is all about giving more people more access and more choice when it comes to financial services and products. As we continue to develop, collaborating with projects like Index Coop is key to ensuring that we offer access to best in class products and services.

REQUEST FOR FEEDBACK

Below is a list of specific ways for how the Fuse and the Index Coop can collaborate. We’d like to get feedback from the Index community on this proposal:

  1. DPI and INDEX whitelisted on FuseSwap
  • Whitelisted on FuseSwap as an official asset
  • DPI added to fuse.cash as an asset for in-app swapping
  1. Liquidity provision on FuseSwap
  • Index Coop treasury provides/lends initial liquidity on FuseSwap
  • Liquidity provider reward program to incentivize more liquidity and activity from token holders
  1. Cross marketing
  • AMAs (1 with each community)
  • Articles and social media sharing by each community
  • Dedicated PR and marketing campaign to promote DPI in the Fuse ecosystem
  1. Index Coop as a Validator
  • Index Coop could become a validator within the Fuse Network
  • As a validator, IC can do… and will benefit from…
  1. Token swap for Governance
  • Index Coop and Fuse swap equal USD amounts of INDEX and FUSE.
  • Fuse Network validator set up by Index Coop using swapped FUSE.

Index Coop treasury uses FUSE tokens received to set up a validator. **See stakingrewards.com for technical information and earning potential.

Why this collaboration?

As mentioned in the beginning, we believe Fuse and Index Coop have a lot of synergies and great potential for highly beneficial collaborations. Below is a non-exhaustive list of why we think collaborating will benefit both communities:

  • Drive INDEX and DPI token holder interest from a new community.

  • Increase exposure for Index Coop and its products.

  • Provide an extra direct fiat on ramp to Index Coop products.

  • Ensure token holder loyalty with an attractive reward program.

  • In case of liquidity provider program + Index Coop validator, users are able to stake gained FUSE on Index Coop validator for long term commitment and attractive yield.

  • Enhance product range on Fuse Network.

  • Increase liquidity on Fuse Network.

  • Give retail users on fuse.cash access to best-in-class DeFi indices (notably DPI)

  • Form the basis of a longer-term partnership which may include integration with other Fuse-based DeFi products including lending → see ola.finance.

Important information

  • Bridge of INDEX tokens from Ethereum mainnet or BSC to Fuse Network is done via an intuitive UI featured within FuseSwap: FuseSwap.
  • LP tokens are staked on rewards.fuse.io. Rewards in Fuse Token are redeemable at any time.
  • Fuse Token can be staked dPOS on staking.rewards.io. See here for current stats and APR.

Next steps

  • Collect and review feedback from the community.
  • If sentiment positive, hold a Q&A call with Fuse and the Index community.
  • Implement feedback and work out details to move to an IIP.
4 Likes

Hi @Isaac_Fuse myself and @Mringz from IndexCoop DeFi partnerships would love to chat further on the discord (Mringz and TrotNixonLine are our handles)

5 Likes

Sounds great, will ping you there :slight_smile:

1 Like

Hey @Isaac_Fuse, thanks for joining the forum and posting this, really exciting partnership proposal!

Especially the new on-boarding opportunity for a retail client base via the mobile app sounds very interesting. Keen to hear what the community thinks and if there are any questions.

You already added most of the links, just adding these here for completion:
Coingecko: https://www.coingecko.com/de/munze/fuse
Website: https://fuse.io/
Wiki: Fuse Network (FUSE) | DYOR Crypto Wiki | Fandom

Thanks a lot to @oneski22 and @Mringz for offering support right away! Would be great if you can share the discussion in here as well, for others to follow and participate.

4 Likes

Great write up man. Clear, informative, professional, complete. Got my vote of confidence. Lets see what next steps can bring :muscle:

2 Likes

Wanted to give a quick update after speaking briefly to @oneski22 and @Mringz on Discord.

There was some concern about the overhead requirements from Index so wanted to address that here.

We worked to make the proposal to highlight maximum effectiveness with minimal “heavy lifting” from the Index side. For simplicity of conversation I have added the different collaboration points above

  1. DPI and INDEX whitelisted on FuseSwap (100% done by FUSE Foundation)
  • Whitelisted on FuseSwap as an official asset
  • DPI added to fuse.cash as an asset for in-app swapping
  1. Liquidity provision on FuseSwap (Initial liquidity for DPI provided by Index treasury, rewards provided by FUSE Foundation)
  • Index Coop treasury provides/lends initial liquidity on FuseSwap
  • Liquidity provider reward program to incentivize more liquidity and activity from token holders
  1. Cross marketing (Community growth, should be mutually beneficial, Fuse also can help coordinate these with different Index Coop members that could volunteer their time)
  • AMAs (1 with each community)
  • Articles and social media sharing by each community
  • Dedicated PR and marketing campaign to promote DPI in the Fuse ecosystem
  1. Index Coop as a Validator (This is probably the most labor-intensive from the engineering/product team. If we need to put this on hold and start with other parts that could be OK, but the technical time and set up for our validator should be minimal. Can see more details here: Validation overview - Fuse Docs)
  • Index Coop could become a validator within the Fuse Network
  • As a validator, IC can do vote and will benefit from from delegation and rewards
  1. Token swap for Governance (This is part of step 4 which would be the tokens for setting up the validator. This is important to promote cross-community governance in the growth stage of cross-platform integrations.)
  • Index Coop and Fuse swap equal USD amounts of INDEX and FUSE.
  • Fuse Network validator set up by Index Coop using swapped FUSE.
1 Like