Best Timing for Binance to list FSN?
Dear CZ and Binance Team,
Fusion is making strides to move distributed ledger technology (i.e., crypto) into the next adoption phase. To realize Fusion’s potential for growing our industry, we need to have legitimacy and exposure. In our space, this means listings on major exchanges like the Binance Centralized Exchange (CEX). With this letter, we provide an overview of our history and proof that we deserve to be on your big stage. Hopefully, you will list the Fusion coin and the tokens issued on the Fusion blockchain to help accomplish our expansion and adoption targets.
Our community often asks why Binance has not listed Fusion. For us, it’s hard to explain this to them because we also don’t know. We invite you to an open conversation about this topic. Here is an honest look at our journey so far:
1. We first tried to list on Binance in June 2018. We joined the Community Coin of the Month vote — a process put in place by Binance to facilitate listing of up-and-coming projects while also giving Binance good exposure. After we diligently completed the vetting process, we got shortlisted along with seven other projects. After the vote, we came in at number 2. We believed that we had a good showing and that it was only a matter of time to formalize the listing. It turned out that this is not the case — Fusion was not listed on the Binance CEX.
2. We applied again in August 2019. We completed the due diligence process, and the Binance team allowed us to list on the Binance Decentralised Exchange (DEX). Believing that the CEX listing would come soon enough, we made strides to ensure that the Binance DEX got high exposure. At the time, Fusion had one of the best trading volumes on the Binance DEX. Again, these efforts did not translate into a listing on the Binance CEX.
3. Fast forward to November 2020. Our product is more relevant than ever. Since 2017, Fusion aims to be the infrastructure of ‘crypto finance’, which has now evolved to be Decentralized Finance (i.e., DeFi). The DeFi space is thriving, and Fusion is at its forefront. Therefore, we applied for a listing for the third time.
It is time to examine how Fusion and Binance can be better-integrated, beginning with listing the Fusion coin and the tokens issued on the Fusion blockchain in the Binance CEX. Fusion has excellent potential for a bright future — hopefully, together with Binance. Below, we provide further insights into where we are and what the future holds. Our achievements in the crypto space are well-documented, so you can easily verify the information we share below.
We were one of the first movers in the DeFi space, coining the term ‘crypto finance’ in our 2017 whitepaper — “Fusion — An Inclusive Cryptofinance Platform Based on Blockchain”. Back then, we envisioned an interoperable and decentralized world. In our vision, financial institutions and other businesses extract and trade the time value of assets cross-chain and cross-system using Fusion’s tech — the Fusion blockchain, trust free distributed custody, time locking (a.K.a. time framing or time-slicing), and quantum swaps. As an organization, we are in full flight. We aim to realize our mission and generate the next cycle of crypto adoption.
Here are some of the notable milestones we have reached so far:
1. In Dec 2018, we released Decentralized Control Rights Management (DCRM) — our open-source, zero-trust distributed custody tech. With DCRM, we can implement blockchain-agnostic, secure, and seamless interoperability between multiple native chains and traditional systems. We bridge value while solving the issues of scalability, integration, and transaction costs.
2. In June 2019, we released the Fusion mainnet. After the mainnet go-live, we had notable success with regards to total transaction and adoption figures. Bringing our blockchain online was a significant milestone in line with our roadmap agenda. In terms of transaction count, the Fusion blockchain is in the top 30 on coinstats.network. Fusion also ranks as one of the top 3 performers in their adoption score metric.
3. In July 2020, we release the first-ever cross-chain decentralised exchange — Anyswap. This release is another significant milestone. Anyswap showcases the power of Fusion’s DCRM technology to build interoperable cross-chain and cross-system solutions. Anyswap highlighted the ease of using Fusion’s technology to perform multi-chain integration with native chains — including Binance Smart Chain, Fantom, Ethereum, Huobi Eco Chain, OKEx Chain, and the Fusion blockchain. We enabled a cost-effective cross-chain DEX/marketplace that offered farming and staking of BNB, HT, and FTM — optimizing value for users.
4. In Q1 2021, we started bringing our tried and tested bridging technology to other native and ETH-based DeFi projects. We are solving Ethereum’s transaction cost-related issues together with Andre Cronje by bringing multi-chain bridging to Sushiswap. Through these efforts, the reputation of Fusion and DCRM as a bridging force in the interoperability space is growing. Increasing the availability and marketability of $ANY and $FSN will enhance our growth further. Binance can be pivotal for that.
5. In Jan 2021, we launched Chainge Finance — a multi-chain automated self-banking app. The potential of Chainge is massive. It can be a game-changer in the financial industry. There are over 1 million people on the Chainge waitlist. All of them are excited to be part of the Chainge banking revolution. Chainge is a decentralized banking application that will adopt all the killer features of Fusion and Anyswap. It will be a decentralized and crypto-amateur-friendly application with a world-class user experience.
The crypto space is ever-evolving. Fusion’s dream for a crypto finance-based world underpinned by our infrastructure is developing right before your eyes. With the Anyswap and Chainge dApps, we are already showcasing some of the patented innovations envisioned in our whitepaper. Many blockchain platforms out there are professing DeFi as a value proposition. However, Fusion is one of the very few blockchains that provide an end-to-end decentralized experience. Some of our unique features that users can apply across any token on Fusion include:
1. DCRM solves the cross-chain interoperability problem in the encryption layer. Before respected projects like Cosmos and Polkadot materialized any working solution, Anyswap — using DCRM on the Fusion mainnet — became the sole implementation of a working cross-chain DEX. With Andre Cronje working on the latest development concepts like multi-chain bridging, DCRM is becoming the standard for cross-chain bridging. It enables partnerships like the one with Sushiswap — expanding the liquidity flow within the DeFi ecosystem at small costs, even when using Ethereum-based DeFi protocols.
The European Central Bank validated this emerging technology’s potential by including it in their December 2020 research paper titled “The Use of DLT in Issuance and Post-trade Processes”.
Page 41 of the report highlighted DCRM’s unique interoperability features. The exact quote — “Fusion aims to connect different DLTs by means of a common public blockchain using Decentralized Control Rights Management (DCRM) — an open-source interoperable solution that offers a decentralized custodian model (cross-chain and cross-system). where assets are held and transferred on behalf of the user across heterogeneous chains. The DCRM is to offer a hot wallet liquidity with cold wallet security, a key recovery system and a settlement network, as well as an option of introducing protection requiring multiple approvals in case of both workflow on-chain or off-chain.”
2. Time Lock (a.K.a. time framing or time-slicing) extracts the time value of money (TVM) for digital or digitized assets. This technology enables use cases like the creation and trading of decentralized equities, bonds, and derivatives. Chainge — our multi-chain automated self-banking app we mentioned above — will implement a DEX feature with USDT/ Future USDT and BTC/Future BTC trading pairs. With this feature, you can trade your digital or digitized assets’ time value — e.g., trade 1 BTC framed from 1 month in the future to forever for 0.99 BTC framed from today to forever. Please find detailed explanations of this brilliant concept here.
3. Quantum Swap is the third piece of our puzzle. It delivers a decentralized Over-The-Counter (OTC) market and enables zero-trust, permissionless exchange of value with smart contracts. Quantum Swap gives an option to make escrow agreements without needing third-party intermediaries. It integrates with the other Fusion technologies, so you can extract the time-value and subsequently trade your escrow commitments based on bespoke requirements. The use cases are countless. Developers can use this feature to build peer-to-peer lending services, decentralized escrow services, and more. You could even create open markets for user-made smart-contract-based banking services that are triggered instantly and automatically without needing third-parties for custody or authorization.
Let’s bring it full circle, back to where we began. The success of a crypto project relies heavily on legitimacy and exposure. Like TV programs get more viewers simply because they are on a specific channel with higher viewership, DLT projects become more popular when major exchanges list them. Binance can help us realize the Fusion ecosystem’s potential to spearhead the next crypto adoption growth phase. As we showed above, Fusion has supported Binance since 2018 in the best way we can — by adopting the Binance BEP2 DEX in 2019, embracing the Binance Smart Chain with the release of Anyswap’s cross-chain capabilities, and supporting the $BNB coin. We feel Fusion could contribute more in this industry if Binance would join us together and list FSN.
Fusion has proven itself time and again during the last three years. In the future, we want to support the growth of Binance and the entire blockchain industry. For that, we need legitimacy. Over 1.4 million (rapidly rising) users on the Chainge Finance waitlist need to buy FSN and fuel their transactions. We applied for a listing on the Binance CEX Nov 2020 to make it easier for everyone to get FSN. Binance should list the Fusion coin and the tokens issued on the Fusion blockchain in the Binance CEX. Let’s grow the crypto landscape together.
We wish Binance all the best.
Sincerely yours,
DJ Qian
CEO and Founder of Fusion
