Hello everyone, I’m Paul from Coinmanlabs, and today I want to talk to you about Fuel.

Multi-storey shop building

Imagine that you are constructing a multi-purpose building with different floors, each with a specific function:

First floor: A shopping mall selling various commodities.

Second floor: is the restaurant, providing a variety of food.

The third floor is the office for company use.

Fourth floor: It is an entertainment center with a cinema and a game room.

So what are the benefits of this stratification?

Flexibility: If the mall needs to be renovated or a new brand is introduced, it can be done directly on the first floor without affecting the business of the restaurant on the second floor. Similarly, if the office needs to upgrade the network equipment, it will not affect the normal operation of other floors.

Scalability: If the mall is booming and needs to expand, new stores can be added directly on the first floor without changing the structure of the entire building. If a restaurant wants to add new dishes, it can also be done on the second floor without affecting other floors.

Security: If a fire breaks out in a mall, firefighters can quickly lock down the first floor for rescue without affecting the safety of other floors. Similarly, if the office network is hacked, it can be quickly repaired on the third floor without affecting the normal operation of other floors.

Easy management: Each floor has a dedicated management team. The shopping mall has its own management team, and the restaurant has its own management team. This makes management more efficient and professional.

So why do we need to layer?

Professional division of labor: Each floor focuses on its own function, so that it can do better and more professionally. The mall focuses on selling goods, the restaurant focuses on providing delicious food, the office focuses on office efficiency, and the entertainment center focuses on entertainment experience.

Avoid chaos: If there is no stratification, all functions are mixed together, shopping malls, restaurants, offices and entertainment centers are all on the same floor, it will be very chaotic and very difficult to manage.

Easy to upgrade and maintain: Each floor can be upgraded and maintained independently without affecting the normal operation of other floors. For example, if the air conditioning system of the mall needs to be replaced, it can be done directly on the first floor without affecting the use of air conditioning on other floors.

Ethereum layered architecture

So can we also use layering to expand more functions on Ethereum? Let’s divide Ethereum into layers (considering only the execution layer, consensus layer, data availability layer, and settlement layer).

Execution Layer

Explanation: The execution layer is like a bank counter, responsible for processing various transaction requests from customers. For example, if you want to transfer money to a friend or buy a financial product, these operations are completed at the execution layer.

Example: Suppose you want to transfer 1 ETH to a friend on Ethereum. This transfer request will be sent to the execution layer, which will check whether your account balance is sufficient and then execute the transfer operation to transfer 1 ETH from your account to your friend's account.

Consensus Layer

Explanation: The consensus layer is like the audit department of a bank, responsible for ensuring that all transaction records are accurate and that all bank branches (nodes) maintain consistent transaction records.

For example: When your transfer request is completed in the execution layer, the consensus layer will ensure that the transaction is recorded on the blockchain and all nodes (bank branches) recognize the record. In this way, no matter which bank branch you go to, you can see the record of your transfer.

Data Availability Layer

Explanation: The data availability layer is like a bank's archive, responsible for ensuring that all transaction records and account information are accessible and can be queried by anyone.

For example, suppose you want to query all your transaction records on Ethereum in the past year. The data availability layer will ensure that these records are accessible, and you can query this information through a blockchain browser or other tools.

Settlement Layer

Explanation: The settlement layer is like a bank’s clearing house, responsible for final confirmation and settlement of all transactions. In the blockchain, the settlement layer ensures that after the transaction is completed, the transfer of ownership of the asset is final and irreversible.

For example: When your transfer request is completed in the execution layer and recorded in the consensus layer, the settlement layer will ensure that the transfer operation is final and irreversible. In other words, once the transfer is completed, your friend truly owns the 1 ETH, and this operation cannot be revoked.

Let's summarize the functions of the multiple layers. The execution layer is responsible for processing and executing transactions and smart contracts, ensuring that they run according to the predetermined logic. The consensus layer ensures that all nodes have a consistent view of the state of the blockchain and reach consensus through a specific consensus mechanism. The data availability layer ensures that the data on the blockchain is available to all nodes, and that complete data can be obtained even if some nodes are temporarily offline. The settlement layer is responsible for the final confirmation and settlement of all transactions to ensure finality. These four layers work together in the Ethereum blockchain. Each layer has its specific functions, which together ensure the normal operation and security of the blockchain system.

Fuel

Project website: https://www.fuel.network/

Twitter: https://x.com/fuel_network

Project Introduction: Fuel is a modular execution layer based on UTXO, bringing globally accessible scale to Ethereum. As a modular execution layer, Fuel can achieve global throughput that monolithic chains cannot achieve, while still inheriting the security of Ethereum.

Points Tasks

Recently, the Fuel project team has also launched the Fuel Points activity, and we can obtain points by staking designated tokens.

Q· What does the Points program do?

The Fuel Points program incentivizes early contributors by offering points to those who deposit assets in preparation for the mainnet launch. The program not only ensures the liquidity required to successfully launch the Fuel network, but also helps to bootstrap on-chain activity. By bootstrapping activity and funds into Fuel, it lowers the barrier to adoption and increases developers’ chances of success. This approach helps mitigate the risks developers take when building a new network and supports the growth of dApps on Fuel, ensuring the ecosystem is vibrant and secure.

Q· What assets are supported?

Assets currently eligible for the program include: ETH, WETH, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, ezETH, and stETH. As the program develops, early depositors will earn more points and have the potential to receive additional incentives and higher loyalty rewards after the mainnet launch.

Q· How to earn points?

Participants will receive 1.5 to 3 points per dollar deposited per day, multiplied by the amount of assets (i.e., the multiplier). The multiplier may change over time. By contributing early, you can accumulate more points over time.

Participants can earn 1.5 points per day on the deposit amount of the following assets: ETH, WETH, eETH, rsETH, rETH, wbETH, USDT, USDC, USDe, sUSDe, and stETH.

From July 8 to 22, participants can earn 3 points per day for every USD deposited in the following assets: ezETH.

Q· Which countries cannot participate?

To qualify, participants must be of legal age and not a citizen or resident of the restricted areas: Cuba, Crimea, the Donetsk and Luhansk regions of Ukraine, Iran, North Korea (DPRK), Syria, and the United States.

Q· How to participate in the program?

1. Go to https://app.fuel.network/earn-points

2. Visit the Points Portal and connect any Ethereum wallet.

3. Click the “Deposit” button to deposit your eligible tokens.

4. Monitor your points through the portal and view the leaderboard,

Q· How to calculate points?

The USD value is determined by the hourly price of the asset through a price oracle of our choice (e.g. the DeFiLlama API). Points are then calculated based on the USD value of the asset deposited each hour.

For example, taking ETH as an example, users can earn 1.5 points for every $1 deposited per day:

If a user deposits 1 ETH when the price is $3,500, the user will receive 3,500 × (1.5/24) = 218.75 points for that hour.

If the ETH price jumps to $4,000 within the next hour, the user will receive 4,000 × (1.5/24) = 250 points per hour, and so on.

Q· Can I withdraw the funds at any time if I don’t want to stake anymore?

Funds can be withdrawn at any time.

Q· How can I lose points? How can I check my points?

Withdrawing any pre-deposited funds prior to the launch of the Fuel mainnet will result in the loss of associated Fuel Points. Violation of the Terms of Service or failure to meet the stated eligibility criteria may also result in the forfeiture of points.

Points will be reflected in the Points Program Portal within 24 hours of deposit.

When the Fuel mainnet launches, you will be required to remit your deposited assets within 14 days of launch. Otherwise, the accumulated points will be forfeited.

Coinmanlabs Thinking

1. This project has received investment from large foreign institutions and deserves continued attention.

2. Modularization and parallelization are both narrative themes this year, and the project serves as a modular execution layer.

3. Currently, the points airdrop incentive has entered a white-hot stage, and you need to pay attention to the progress of the project at all times.