The Fuel mainnet was launched this month and the second phase of the points plan was launched. This article will outline the various innovative projects in the Fuel ecosystem, including DeFi, NFT and other sectors, and obtain more early opportunities through an overview of the ecosystem.
Written by Nicky, ForesightNews
On October 16, Fuel Network ushered in a historic moment - the Fuel mainnet was officially launched. At the same time, Fuel Labs launched the Ethereum L2 solution Fuel Ignition. Ignition aims to solve the centralization challenges that the blockchain ecosystem is increasingly facing through its scalable architecture design. Ignition is built on the Fuel Virtual Machine (FuelVM) and UTXO asset-centralized architecture, ensuring Ethereum-level security.
In September 2022, Fuel Labs raised $80 million in a round led by Blockchain Capital and Stratos Technologies. Other investors included CoinFund, Bain Capital Crypto, and TRGC.
This article will take you on an in-depth exploration of the active ecological projects after the launch of the Fuel Network mainnet, and explore the early opportunities therein.
DeFi
Fluid Protocol
Fluid Protocol is a stablecoin developer on the Fuel network and completed a $3.9 million seed round of financing in October this year. Investors include Bloccelerate and Animoca Ventures.
The Fluid team was founded by David Mass and Meir Bank, who previously worked at Citibank and AngelDAO. Their goal is to meet user demand for stable digital currencies in the Fuel network by providing transparent and user-friendly stablecoin solutions.
Fluid Protocol aims to launch the Fuel network’s native stablecoin USDF, an overcollateralized decentralized lending platform designed to provide users with zero-interest loans.
USDF allows users to obtain USDF loans by depositing a variety of assets as collateral. Borrowers can redeem their collateral at par at any time after meeting a fixed minimum collateral ratio. Fluid Protocol is inspired by the Liquity protocol, but has some innovations in its mechanism, allowing partial liquidation and accepting multiple collateral types.
Image source: Fluid official X
FuelUp.Fun
FuelUp.Fun is a Launchpad project in the Fuel Network ecosystem that allows users to issue Meme Tokens on Fuel and achieve the idealized market expectation of "only rising and not falling" through its platform, similar to a rally-driven mechanism (GO UP ONLY). Through FuelUp.Fun, users can use Fuel's efficient and low-cost network to easily launch Meme Tokens with viral potential.
MIRA
MIRA is an open source, decentralized platform designed to seamlessly connect traders, liquidity providers, and protocols. Its goal is to create a dynamic, deep, and fair liquidity market, promote market development through flexible incentive mechanisms, and provide a better trading environment for all users.
In 2024, it will be launched on the Fuel mainnet in the form of a basic AMM and gradually evolve into a ve(3,3) model to optimize capital efficiency and user incentives. MIRA has recently launched a points program to encourage user participation and reward liquidity providers, and plans to implement a governance system and voting custody tokens to enhance community decision-making power.
Image source: MIRA official X
Spark
Spark is a DeFi application on the Fuel network developed by Composability Labs, integrating multiple financial services such as perpetual contracts, order books, and lending. The project adopts a multi-collateral cross-margin system, supports diversified asset deposits and implements complex liquidation protocols to effectively manage risks. With high-performance order books and trading tools, Spark aims to provide developers and traders with flexibility and enhanced trading capabilities.
In October this year, Spark completed a $1.5 million Pre-Seed round of financing, with investors including Fuel, Curiosity Capital, chainyoda and other institutions, and is currently raising seed round financing. As part of the Fuel ecosystem, Spark is promoting innovation in the DeFi field, providing users with more choices and flexible trading experience.
Swaylend
Swaylend is a decentralized lending platform based on the Fuel network, which operates on the Ethereum consensus layer. It is derived from Compound V3 but rewritten in the Sway language. It is designed around the underlying asset market, where users can deposit assets to earn interest or borrow assets to pay interest. For example, in the USDC market, users can choose to borrow or deposit USDC.
Education
Cookbook
Cookbook is an open source platform for smart contract registration, search, and integrated development. It is rooted in the Fuel documentation system and is designed specifically for EVM-compatible blockchains.
In May 2023, Cookbook successfully completed a $2 million financing round, with MaC Venture Capital, Alchemy and others participating in the round. Through Cookbook, developers can more easily find and use smart contracts, thereby accelerating project advancement and improving development efficiency.
LearnWeb3
LearnWeb3 is an educational ecosystem in the Web3 space that provides a wide range of educational courses, resources, and tools designed to help developers learn and grow in the Web3 space.
The platform not only covers a variety of learning paths from entry to advanced, but also provides developers with a comprehensive knowledge system and growth opportunities through rich learning materials, practical guidance and interactive tools, helping them to deeply understand decentralized technology and its applications.
With LearnWeb3, developers can quickly master the core elements of Web3 technology, including smart contract development, blockchain architecture, and the construction of decentralized applications, and establish a solid knowledge foundation in the industry.
Metaschool
Metaschool is an educational technology startup dedicated to popularizing Web3 education. The platform provides a simple and easy-to-use learning starting point for those interested in Web3, helping beginners and developers quickly master relevant knowledge.
Gaming
Constellation Battle
Constellation Battle is a game based on ancient legends. Players get rewards by casting monsters and participating in card battles. The core gameplay of the game is to cast monsters with unique genes and weight values. The genes determine the combat power, and the weight value affects the rewards. Monsters randomly generate a constellation card every day, and the type depends on their genes and random numbers.
Each monster has a "Countdown to Death" (TOD). Players need to feed fruits regularly to extend the monster's life. If they are not fed in time, the monster will die and stop generating cards until it is resurrected. Players can list duplicate constellation cards in the market and compete with other players in card battles. The winner can get two cards.
In each cycle of the game, after collecting 12 different constellation cards, players can synthesize a zodiac card. Players holding the zodiac card will be eligible to enter the bonus pool and receive rewards.
Sway Farm
SwayFarm is a blockchain game in the Fuel Network ecosystem. Players accumulate wealth by planting and selling tomatoes and gradually become "Sway Farm Hero". SwayFarm not only integrates on-chain assets and NFTs, but also improves game interactivity and depth through DeFi, allowing players to truly own virtual assets in the game. SwayFarm aims to attract players to experience the unique fun and actual benefits of virtual planting and management.
Indexer
SHIPPING
Envio is a modern, multi-chain EVM blockchain indexing framework that is optimized for speed and can efficiently query real-time and historical data. Its subframework HyperIndex supports easy query of real-time and historical data of any EVM blockchain and the Fuel network. HyperIndex focuses on providing excellent performance and a smooth developer experience, enabling developers to build real-time APIs for blockchain applications in minutes by optimizing user interactions.
The core of Envio's design is to provide developers with the ultimate performance experience and ensure that its data retrieval capabilities adapt to multi-chain requirements, helping blockchain applications achieve rapid integration and real-time response in the Fuel ecosystem.
The money
Pangea is a cross-chain data indexing project in the Fuel ecosystem, providing real-time and historical data for decentralized applications, blockchains, and protocols. Pangea allows users to access blockchain data on demand, whether it is raw on-chain data or aggregated advanced analysis. Its data is transmitted directly to the user's device, ensuring that the user has full control over the data. Pangea's infrastructure provides developers with trustless, verifiable data support, helping to accelerate the development of innovative and modular blockchains.
I feel
Sentio is a Web3 observability platform focused on providing integrated, managed, modern monitoring, alerting, log management, and debugging services for decentralized applications.
In February 2023, Sentio announced that it had successfully completed a $6.4 million seed round of financing at a valuation of $32 million. This round of financing was led by Lightspeed Venture Partners, with participation from Hashkey Capital, GSR Ventures and other investment institutions.
Observability refers to measuring the current state of a system based on the data it generates. In the cryptocurrency space, applications are built on smart contracts, but there is currently no unified process for doing this. This means that many developers either need to develop an in-house solution that integrates scattered third-party tools, or run applications without such monitoring, which undoubtedly increases operational risks.
The emergence of Sentio breaks this dilemma. Through its software development kit (SDK), users can easily collect indicators and event logs based on smart contract events, transactions, tracking and status generation, and this process supports cross-blockchain, including mainstream blockchain platforms such as Ethereum, Aptos, Polygon and Avalanche. Sentio not only fully manages the indexing process of this information, but also allows users to build dashboards that visualize such data through its web interface.
These functions enable users to monitor the running status of blockchain applications in real time, detect possible violations or problems in a timely manner, and set alerts to receive notifications of certain specific activities on the blockchain. Sentio's integrated solution not only simplifies the operation and maintenance process of decentralized applications, but also significantly improves the security and stability of applications.
NFT
Executoors
Executoors is an innovative NFT project in the Fuel ecosystem that aims to create an ideal execution environment. The project emphasizes efficient and accurate operations on a decentralized platform through unique NFT roles. Each Executoor has specific attributes that can effectively perform a variety of tasks and promote the development of decentralized applications. The project also plans to introduce community-driven features to allow holders to participate in the future development and decision-making of the project, thereby enhancing users' sense of participation and belonging.
Fuel Pumps
Fuel Pumps is one of the NFT projects in the Fuel network, consisting of 1999 OG PFPs, commemorating the launch of Fuel V1. Participants are Fuel Runners. Each pump has unique potential, and users need to ensure its performance and stability through management, combined with Fuel's modular architecture, to promote the development of decentralized applications.
Props
Props Octane is an NFT Launchpad platform on the Fuel network that helps creators mint and showcase their NFTs, while providing developers with the Props SDK for efficient development of decentralized applications and smart contracts.
On-Ramp
I'm sorry
Banxa is a fiat-to-cryptocurrency bridge tool in the Fuel ecosystem, providing a safe and convenient conversion service to help users convert traditional fiat currencies into cryptocurrencies. As a fintech platform, Banxa has a variety of payment methods, including credit cards, Apple Pay, ACH, SEPA, etc., covering multiple regions around the world, and cooperates with multiple centralized and decentralized platforms, such as MetaMask and dYdX.
Oracle
EAGLE
ORAO is a decentralized data service platform designed for blockchain ecosystems, focusing on providing verifiable randomness services on the chain, suitable for multi-chain environments such as Solana and Fuel. Its Verifiable Random Function (VRF) technology supports efficient debiased random number generation, especially suitable for NFT casting, airdrop distribution, game level generation and lottery. In the Fuel ecosystem, ORAO's VRF helps developers generate safe and fast random numbers on the chain, bringing a fairer and more transparent user experience to dApps.
Pyth
Pyth Network is a decentralized oracle that provides high-frequency, accurate market data and supports smart contracts. By aggregating data from global exchanges and market providers, Pyth is able to update prices every 400 milliseconds, covering a variety of assets, including cryptocurrencies and stocks. The network currently provides services on more than 40 blockchains, helping to combine decentralized finance (DeFi) and traditional finance, reduce data access costs, and improve efficiency.
RedStone Oracle
RedStone is a blockchain oracle similar to popular oracles such as Chainlink and Pyth Network, but based on a modular design. In July this year, RedStone completed a $15 million Series A financing round led by Arrington Capital, Kraken Ventures, and angel investors such as Smokey the Bera and Homme Bera of Berachain and Mike Silagadze of Ether.Fi.
Prediction Market
Griffy
Griffy is an innovative prediction market platform, known as the "Nasdaq of Opinions". Users can trade opinions on a variety of real-life events such as sports, politics, celebrities, fashion, etc. on the platform, similar to stock trading. This decentralized approach not only enhances user participation, but also provides valuable market insights for brands and institutions.
Social
Fuel Name Service
Fuel Name Service (FNS) is a decentralized domain name service built on the Fuel blockchain. It allows users to convert complex blockchain addresses into easy-to-remember names, simplifying crypto transactions and digital identity management. The launch of FNS improves user experience, supports the integration of smart contracts and decentralized applications, provides convenience for users and developers, and helps promote the widespread application of blockchain technology. FNS aims to enhance the security and convenience of users in the digital world.
Common Ground
Common Ground is a Web3-based social application that aims to provide an interactive platform for various communities. Users can chat with friends and viewers, share content, and earn rewards by participating in activities. The application emphasizes a decentralized social experience, supports content creators to interact with community members, and encourages community activity, while providing users with a safe and private communication environment. This model adapts to the current growing demand for decentralized platforms and provides new income opportunities for users and creators.
Guild
Guild is an automated membership management tool designed to simplify the community management process for users on existing platforms. It provides efficient membership management capabilities, allowing community administrators to manage members of multiple communities in one place, reducing manual intervention. This decentralized tool improves user experience, strengthens community organization and activity, and is particularly suitable for projects in the rapidly growing Web3 ecosystem.
On-chain tools
Charcoal Transpiler
Charcoal Transpiler is a tool that converts Solidity code to Sway code and is available on Sway Playground. The tool is designed to help developers migrate smart contracts on Ethereum to the Fuel network, leveraging the efficiency and security of the Sway programming language. With Charcoal Transpiler, developers can quickly adapt to the Fuel ecosystem, accelerate the development process, and increase the flexibility of cross-chain development.
Lync
Lync is a set of SDKs designed for game and NFT development in the Fuel ecosystem, aiming to provide developers with efficient tools and simplify the project building process. The toolkit leverages the high throughput and low latency of the Fuel network to support the creation of smooth gaming experiences and tradable NFTs, promoting the development of decentralized entertainment. The launch of Lync will help attract more developers to the Fuel ecosystem and expand its application scenarios.
wallet
Guest Safe
Bako Safe is a native multi-signature wallet for the Fuel network, providing a secure and flexible asset management solution. The wallet requires multiple users to jointly authorize, significantly improving transaction security. Bako Safe is deeply integrated with the Fuel ecosystem and is easy to use. It is especially suitable for corporate and individual users who require high security standards to ensure the safety of user assets.
Fuel Wallet
Fuel Wallet is an integrated digital wallet where users can conveniently manage crypto assets and explore decentralized applications (dApps). As an important part of the Fuel ecosystem, Fuel Wallet has a user-friendly interface and high security, aiming to provide users with a one-stop Web3 experience. With Fuel Wallet, users can easily and securely manage their assets while accessing various dApps in the Fuel ecosystem.
Fuelet Wallet
Fuelet Wallet is a secure, user-friendly digital wallet that has attracted more than 200,000 users. Designed for exploring the Fuel ecosystem, it provides an intuitive interface and strong security to help users easily manage and trade digital assets. As the Fuel ecosystem develops, Fuelet Wallet becomes an important tool to connect users with the Fuel network.
Looking to the future: the infinite possibilities of Fuel Network
This article outlines several core projects in the Fuel ecosystem, covering DeFi, NFT, Oracle and other sectors. Fuel Network is committed to building a high-performance, modular blockchain network, improving the development experience through innovative technologies, and attracting many projects to join. Projects in various sectors such as Spark, Executors, Pyth and Fuel Wallet provide developers, users and communities with rich functions and convenient operating platforms, demonstrating the strong expansion potential and future development space of the Fuel ecosystem.
