Defi-Search x Fusible
We had great pleasure of welcoming Santosh A, Founder of Fusible, as well as Prashant Kale Co-Founder, on our Telegram channel for the purpose of letting the community ask questions, which they have always wanted to be answered. Join our Telegram channel now and become part of the community.
✅ OFFICIAL CHANNELS ✅
🔗 Website: fusible.io
🌎 Telegram: http://t.me/fusibleio
📢 Twitter: http://twitter.com/fusibleio
📌 “Introducing Fusible”
🚀 Stay tuned for the public sale !
Hello everyone. I am Santosh, Founder of Fusible, Computer Engineer by profession.
I was a part of freelancing gigs for crypto projects. Also, ran a mining rig in early 2017.
Then there is the Co-Founder, Prashant Kale,who completed Masters in International Business from Manchester, UK,
He previously co-founded a digital marketing company to scale financial clients worldwide.
And our team consists of a young talented pool of developers. Working overnight to bring you fusible in a few weeks :)
As the world in finance,especially in terms of digital currency, is evolving, so is the technology behind it.
We at Fusible are trying to make it easier and effective for NFT holders & collectors..
While auctions have been the most popular way of trading NFTs, they are not as efficient as
traditional open order book based bids\asks mechanism price discovery.
Since NFTs are non-fungible, the open order mechanisms pose certain constraints.
Time is another constraint that auctions suffer from. Creators have to either settle for the
highest bid obtained in a specified period of time, or will have to wait indefinitely for liquidity till a bidder emerges and matches the ask.
At Fusible, a seller can liquefy their NFTs into fractional parts which will help them trade it effectively. And due to this momentum of price action of fractional parts the whole worth of NFT is discovered.
InShort, Current NFT is illiquid and price discovery is inefficient.
We trying to this solve this price discovery problem and by solving this we tend to make NFT liquid.
NFT is meaningful because it has an ERC-721 shape. However, in FUSIBLE , it can be divided into tokens based on the name erc-20. Is there any conflict of interest about Nft in the future?
Thank you for such a wonderful question
At Fusible you are locking ERC721 NFT token and minting corresponding ERC20 fungible fractions only to discover the networth of NFT when these ERC20 tokens are traded freely in the market.
When anyone who pays the discovered price will be able to unlock the ERC721 token and the minted ERC20 could be burnt.
Here ERC20 is essential to represent the fractional ownership and price discovery of single ERC721 token and another reason for ERC20 for easy access to DeFi world.
Thank you for the question 🙌
Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?
We have raised funds with dev bandwidth in mind. And we are here to stay and we want to be the forefront of the NFT price discovery protocol.
Binance Smart Chain (BSC) is trending right now. Is Fusible interested or is there a plan to enter the world of BSC?
Fusible protocol can easily adaptable in evm based blockchain such as Matic, BSC. xDai & others. Yes, we do plan to exist on every blockchain where NFT does exist. :)
Thank you for the question 🙌
Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
We are in the process and we will only go live after we are prone 100% secure by audit firm.
What updates and developments will you tell everyone about FUSIBLE so that they will be more interested in FUSIBLE and choose it among the others?
I would ask DeFI Search fam to buy any NFT assets that will be listed on Fusible coz it is backed by tangible real Digital art which will be eventual bought by collectors.
How is Fusible development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Here is the simple roadmap of upcoming events:
2. Yield farming
All the above can arrive at the earliest as feasible.
According to crypto market capitalization aggregators, there are more than 5,000 cryptocurrencies in existence today.
And I feel 90% of them have no utility,
So can you tell me 3 good reason that your project is here for long run and have real utility that will increase demand of token in future
On fusible, the digital tangible are collateralised to derive of the art.
We see this a huge opportunity for fusible to be forefront in this domain.
And every art is valuable as they age.
And fusible is the one prominent protocol which helps in deriving that value.
How will your project generate profits / income to sustain your project and what is the revenue model?
How will it benefit your investors and your project?
We have raised fund to be operational for next 18months in dev bandwidth.
As our mainnet launches we have 1% fee from buyer which will be used in for running the dev of the platforms across different chains