FuseFi is raising $ 2.3 million to launch a DAO that will focus on using DeFi services as mainstream
Singapore, December 2, 2021 – PRNewswire / In a key milestone, FuseFi announced that it had raised $ 2.3 million from private donors to launch FuseFi’s Decentralized Autonomous Organization (DAO) and Volt (VOLT) governance token .
Cash Fuse: DeFi in your pocket
DAO’s killer product is Fuse Hard Cash, a consumer-facing mobile app that leverages FuseFi’s liquidity and smart contract technology to bring decentralized finance (DeFi) to people every day. Fuse Funds is completely non-custodial, which means that no third parties hold assets on behalf of users. However, the app still offers the same experience as top fintech players like Venmo and Revolut by solving complex problems like gas fees and private key management.
Commenting on FuseFi’s successful pay raise and mission to bring DeFi to the mainstream, Fuse CEO Mark Smargon said:
“We’re seeing a lot of demand for products like Robinhood, which have been very successful in accessing new audiences who are not very knowledgeable about the investment world. By having trading experience and removing hassles like fees, minimum deposits and public keys, we make DeFi as interactive and easy to use as Robinhood, but with no limits for Americans only. ”
Fuse’s growing DeFi ecosystem
DeFi on Fuse, the Ethereum-compatible blockchain that powers FuseFi, has seen rapid growth in recent months. Thousands of seasoned DeFi enthusiasts visit fuse.fi daily to trade over 300 pairs of tokens. The platform also supports lending and borrowing of multiple assets, including Ethereum, and a robust fiat routing system that allows users to purchase the Fuse Network’s native stablecoin, FuseDollar, through their bank accounts in over 170 family countries.
The upcoming FuseFi DAO will govern the all-in-one DeFi platform FuseFi along with the consumer-facing mobile app Fuse Dollars. Volt tokens (VOLT) are used for management via snapshots and on-chain voting. It is also expected that, as directed by the DAO, add-ons will be introduced for the platform’s suite of products, such as access to premium services in Fuse Money.
The FuseFi DAO has received support from early investors in the Fuse community’s blockchain token – notably Collider Ventures, Blockchain Founders Fund, TechMeetsTrader & Collider VC.
A number of new VCs will also be added to the ecosystem including Node Cash, Sheesha Finance, LVT Capital, MVST: MG, AngelDAO, ZBS Money, Nakheel Capital, Metavest Capital, and Shima Capital. To date, FuseFi has raised $ 2.3 million.
Volt token generation event
The next phase of FuseFi implementation includes a token generation event and a campaign to attract DeFi enthusiasts and experts to join the DAO. The FuseFi team will announce further details shortly. Interested parties are cordially invited to visit the website and to register.