This month, the Fuel mainnet has launched, and the second phase of the points program has begun. This article will outline various innovative projects within the Fuel ecosystem, including DeFi, NFTs, and more, to gain early opportunities through an overview of the ecosystem.
Written by: Nicky, ForesightNews
On October 16, Fuel Network reached a historic moment—the Fuel mainnet officially launched. At the same time, Fuel Labs introduced the Ethereum L2 solution, Fuel Ignition. Ignition aims to address the increasing centralization challenges faced by blockchain ecosystems through its scalable architecture design. The construction of Ignition is based on the Fuel Virtual Machine (FuelVM) and UTXO asset centralized architecture, ensuring Ethereum-level security standards.
In September 2022, Fuel Labs raised $80 million in a funding round led by Blockchain Capital and Stratos Technologies. Co-investors included CoinFund, Bain Capital Crypto, and TRGC.
This article will take you on a deep dive into the active ecosystem projects following the launch of the Fuel Network mainnet, exploring early opportunities together.
DeFi
Fluid Protocol
Fluid Protocol is a stablecoin developer on the Fuel network and completed a $3.9 million seed round financing in October this year, with investors including 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 users' demand for stable digital currencies on the Fuel network by providing transparent and user-friendly stablecoin solutions.
Fluid Protocol aims to launch the native stablecoin USDF on the Fuel network, which is an over-collateralized decentralized lending platform designed to provide users with zero-interest loans.
USDF allows users to obtain USDF loans by depositing various assets as collateral. Borrowers can redeem their collateral at face value at any time after meeting a fixed minimum collateralization ratio. The design of Fluid Protocol is inspired by the Liquity protocol but innovates on the mechanism to allow partial liquidation and accept multiple types of collateral.
Image source: Fluid Official X
FuelUp.Fun
FuelUp.Fun is a Launchpad project within the Fuel Network ecosystem that allows users to issue Meme Tokens on Fuel and achieve an idealized market expectation of "only up" through its platform, similar to a momentum-driven mechanism (GO UP ONLY). Through FuelUp.Fun, users can easily launch Meme Tokens with viral potential using Fuel's efficient and low-cost network.
MIRA
MIRA is an open-source, decentralized platform designed to seamlessly connect traders, liquidity providers, and protocols. Its goal is to create dynamic, deep, and fair liquidity markets, promoting market development through flexible incentive mechanisms and providing all users with a higher quality trading environment.
In 2024, it will launch 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, while also planning to implement a governance system and voting escrow 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 various financial services such as perpetual contracts, order books, and lending. The project adopts a multi-collateral cross-margin system, supporting diverse asset deposits and implementing complex liquidation protocols to effectively manage risk. 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 financing, with investors including Fuel, Curiosity Capital, and chainyoda, and is currently raising a seed round. As part of the Fuel ecosystem, Spark is driving innovation in the DeFi space, offering users richer choices and flexible trading experiences.
Swaylend
Swaylend is a decentralized lending platform based on the Fuel network, operating on the Ethereum consensus layer, derived from Compound V3 but rewritten in Sway language. It is designed around the base asset market, allowing users to 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 that integrates smart contract registration, search, and development, rooted in the Fuel documentation system and designed for EVM-compatible blockchains.
In May 2023, Cookbook successfully completed a $2 million financing round, co-invested by MaC Venture Capital, Alchemy, and others. Through Cookbook, developers can more easily find and use smart contracts, accelerating project advancement and improving development efficiency.
LearnWeb3
LearnWeb3 is an educational ecosystem in the Web3 space, offering a wide range of educational courses, resources, and tools aimed at helping developers learn and grow in the Web3 field.
The platform covers various learning paths from beginner to advanced levels and provides a comprehensive knowledge system and growth opportunities through rich learning materials, practical guidance, and interactive tools, helping them gain a deep understanding of decentralized technologies and their applications.
With LearnWeb3, developers can quickly grasp the core elements of Web3 technology, including smart contract development, blockchain architecture, and the construction of decentralized applications, establishing a solid knowledge foundation in the industry.
Metaschool
Metaschool is an ed-tech startup dedicated to making Web3 education accessible. The platform provides a simple and user-friendly 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, where players mint monsters and participate in card battles to earn rewards. The core gameplay involves minting monsters with unique genes and weight values, where genes determine combat power, and weight values affect rewards. Monsters randomly generate a constellation card each day, with the type depending on their genes and a random number.
Each monster has a "death countdown" (TOD), and players must regularly feed them fruits to extend their life. If not fed in time, the monster will die and stop generating cards until revived. Players can list duplicate constellation cards on the market and battle with other players, with the winner receiving two cards.
During each game cycle, after collecting 12 different constellation cards, players can synthesize a zodiac card, and those holding the zodiac card will qualify for the prize pool and receive rewards.
Sway Farm
SwayFarm is a chain game within the Fuel Network ecosystem, where players accumulate wealth by planting and selling tomatoes, gradually becoming "Sway Farm Heroes." SwayFarm not only integrates on-chain assets and NFTs but also enhances game interactivity and depth through DeFi, allowing players to truly own virtual assets within the game. SwayFarm aims to attract players to experience the unique fun and real benefits of virtual planting and management.
Indexer
ENVIO
Envio is a modern, multi-chain EVM blockchain indexing framework optimized for speed, capable of efficiently querying real-time and historical data. Its sub-framework, HyperIndex, supports easy querying of real-time and historical data from any EVM blockchain and the Fuel network. HyperIndex focuses on providing excellent performance and a smooth developer experience, allowing developers to build real-time APIs for blockchain applications in minutes.
The core design of Envio is to provide developers with an ultimate performance experience and ensure its data retrieval capabilities adapt to multi-chain needs, helping blockchain applications achieve rapid integration and real-time response within the Fuel ecosystem.
Pangea
Pangea is a cross-chain data indexing project within the Fuel ecosystem, providing real-time and historical data suitable for decentralized applications, blockchains, and protocols. Pangea allows users to access blockchain data on demand, whether raw on-chain data or aggregated high-level analytics. Its data transmission goes directly to user devices, ensuring complete user control over the data. Pangea's infrastructure provides developers with trustless, verifiable data support, accelerating innovation and modular blockchain development.
Sentio
Sentio is a Web3 observability platform focused on providing integrated, hosted modern monitoring, alerting, log management, and debugging services for decentralized applications.
In February 2023, Sentio announced the successful completion of a $6.4 million seed round financing at a valuation of $32 million, led by Lightspeed Venture Partners, with participation from several investment institutions including Hashkey Capital and GSR Ventures.
Observability refers to measuring the current state of a system based on the data generated by that system. In the cryptocurrency space, applications are built on smart contracts; however, there is currently no unified process for executing this operation. This means that many developers either need to develop an internal solution to integrate disparate 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 metrics and event logs based on smart contract events, transactions, tracking, and state generation, and this process supports cross-blockchain operations, including mainstream blockchain platforms like Ethereum, Aptos, Polygon, and Avalanche. Sentio not only comprehensively manages the indexing process of this information but also allows users to build dashboards to visualize such data through its web interface.
These features enable users to monitor the operational status of blockchain applications in real-time, promptly identify potential violations or issues, and receive notifications of specific activities on the blockchain by setting alerts. Sentio's integrated solution not only simplifies the operational processes of decentralized applications but also significantly enhances the security and stability of the applications.
NFT
Executoors
Executoors is an innovative NFT project within the Fuel ecosystem, aimed at creating an ideal execution environment. The project emphasizes efficient and precise operations on decentralized platforms through unique NFT roles. Each Executoor possesses specific attributes that enable effective execution of various tasks, driving the development of decentralized applications. The project also plans to introduce community-driven features, allowing holders to participate in the future development and decision-making of the project, thereby enhancing user engagement and sense of belonging.
Fuel Pumps
Fuel Pumps is one of the NFT projects within the Fuel network, consisting of 1,999 OG PFPs, commemorating the launch of Fuel V1. Participants are known as Fuel Runners. Each pump has unique potential, and users must manage it to ensure its performance and stability, leveraging 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 (Fiat to Crypto)
Banxa
Banxa is a fiat-to-cryptocurrency bridging tool within the Fuel ecosystem, providing secure and convenient conversion services to help users exchange traditional fiat currency for cryptocurrency. As a fintech platform, Banxa offers various payment methods, including credit cards, Apple Pay, ACH, SEPA, and more, covering multiple regions globally and collaborating with several centralized and decentralized platforms, such as MetaMask and dYdX.
Oracles
ORAO
ORAO is a decentralized data service platform designed specifically for blockchain ecosystems, focusing on providing on-chain verifiable randomness services suitable for multi-chain environments like Solana and Fuel. Its Verifiable Random Function (VRF) technology supports efficient unbiased random number generation, particularly suitable for scenarios such as NFT minting, airdrop distribution, game level generation, and lotteries. In the Fuel ecosystem, ORAO's VRF helps developers generate secure and fast random numbers on-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 to support smart contracts. By aggregating data from global exchanges and market providers, Pyth can update prices every 400 milliseconds, covering various assets, including cryptocurrencies and stocks. The network currently serves over 40 blockchains, facilitating the integration of decentralized finance (DeFi) and traditional finance, reducing data access costs, and improving efficiency.
RedStone Oracle
RedStone is a blockchain oracle similar to popular oracles like Chainlink and Pyth Network but based on a modular design. In July of this year, RedStone completed a $15 million Series A funding round, led by Arrington Capital, with participation from Kraken Ventures and angel investors such as Smokey the Bera and Homme Bera from Berachain, and Mike Silagadze from Ether.Fi.
Prediction Markets
Griffy
Griffy is an innovative prediction market platform, referred to as "the Nasdaq of opinions." Users can trade views on various real-world events, such as sports, politics, celebrities, and fashion, similar to stock trading. This decentralized approach not only enhances user engagement 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 cryptocurrency transactions and digital identity management. The launch of FNS enhances user experience, supports the integration of smart contracts and decentralized applications, and provides convenience for users and developers, contributing to the widespread adoption of blockchain technology. FNS aims to enhance user security and convenience in the digital world.
Common Ground
Common Ground is a Web3-based social application designed to provide an interactive platform for various communities. Users can chat with friends and audiences, share content, and earn rewards by participating in activities. The application emphasizes a decentralized social experience, supporting content creators to interact with community members, incentivizing community engagement, while providing users with a secure and private communication environment. This model adapts to the growing demand for decentralized platforms, offering new income opportunities for users and creators.
Guild
Guild is an automated membership management tool designed to simplify community management processes for users on existing platforms. It provides efficient membership management features, allowing community administrators to manage members of multiple communities in one place, reducing manual intervention. This decentralized tool enhances user experience and strengthens community organization and activity, making it particularly suitable for projects in the rapidly evolving Web3 ecosystem.
On-Chain Tools
Charcoal Transpiler
Charcoal Transpiler is a tool that converts Solidity code into Sway code, available on Sway Playground. This tool is designed to help developers migrate smart contracts from 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 development processes, and enhance cross-chain development flexibility.
Lync
Lync is a set of SDKs designed for game and NFT development within the Fuel ecosystem, aimed at providing developers with efficient tools to simplify project building processes. This toolkit leverages the high throughput and low latency of the Fuel network, supporting the creation of smooth gaming experiences and tradable NFTs, promoting the development of decentralized entertainment. The launch of Lync will help attract more developers into the Fuel ecosystem and expand its application scenarios.
Wallets
Bako Safe
Bako Safe is a native multi-signature wallet for the Fuel network, providing a secure and flexible asset management solution. This wallet requires multiple users to authorize transactions, significantly enhancing transaction security. Bako Safe is deeply integrated with the Fuel ecosystem, easy to use, and particularly suitable for enterprises and individual users requiring high security standards, ensuring the safety of user assets.
Fuel Wallet
Fuel Wallet is an integrated digital wallet that allows users to conveniently manage cryptocurrency assets and explore decentralized applications (dApps). As an important component of the Fuel ecosystem, Fuel Wallet features a user-friendly interface and high security, aiming to provide users with a one-stop Web3 experience. Through Fuel Wallet, users can easily and securely manage assets while accessing various dApps within the Fuel ecosystem.
Fuelet Wallet
Fuelet Wallet is a secure, user-friendly digital wallet that has attracted over 200,000 users. It is designed for exploring the Fuel ecosystem, providing an intuitive interface and robust security, helping users easily manage and trade digital assets. As the Fuel ecosystem develops, Fuelet Wallet has become an important tool connecting users with the Fuel network.
Looking Ahead: The Infinite Possibilities of Fuel Network
This article outlines several core projects within the Fuel ecosystem, covering various sectors such as DeFi, NFTs, oracles, and more. Fuel Network is committed to building a high-performance, modular blockchain network that enhances the development experience through innovative technologies and attracts numerous projects to join. Projects in various sectors, such as Spark, Executoors, Pyth, and Fuel Wallet, provide developers, users, and communities with rich functionalities and convenient operational platforms, showcasing the strong scalability potential and future development space of the Fuel ecosystem.
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