SINGAPORE--(BUSINESS WIRE)--FUSION (https://FUSION.org/), the Foundation, that focuses on creating an inclusive cryptofinance platform to solve the barriers hindering the widespread use of blockchain technology in finance, announces today the successful completion of its crowdsale, with over 126,000 ETH (worth 104M USD today) committed by participants. FUSION hit the crowdsale’s cap in the first 24 hours, and has concluded the crowdsale today with an oversubscription of 2.5 times of its hard cap. As per the crowdsale’s unique mechanism, contributions over the cap have been returned to participants. FUSION is creating a system that can connect a variety of tokens, enabling complete financial functionalities that have not yet been explored using blockchain technology.
The FUSION Foundation has a strong commitment to support and foster its community, proven by the success of the new crowdsale mechanism. Nicknamed the “FUSION-type ICO,” this method not only allows everyone who would like to participate to do so but also eliminates Gas Wars and supports a good balance between small and large investors. Some further findings from this crowdsale have been:
- Contributions came from over 7,000 unique addresses (some of which made repeated contributions during the crowdsale).
- An overwhelming response to FUSION’s Community Partners Program, for which more 13,000 people from over 130 countries registered prior to the start of the crowdsale.
The FUSION Foundation aims to make smart contracts really smart, and actually usher in an era of cryptofinance. FUSION is the first public blockchain to provide a tangible solution for all digital currencies, constructing a truly connected financial ecosystem, and helping blockchain progress from a great theory to a practical system.
FUSION addresses the compatibility of cryptofinance, as the FUSION blockchain will support both tokens that already exist, and those that will be issued in the future. By solving pitfalls like this, FUSION allows smart contracts to interact with various parties despite the variety of tokens used to form them. For example, the platform can support applications offering multiple currency risk free loan system, by which users can apply for a loan in one form of token, and pay it back with another.
“We are extremely excited about the success of the FUSION Crowd Sale,” said Dejun Qian, Founder of FUSION, “However, it’s not only the monetary success that matters, but also how that success occurred. FUSION has a strong community backing it, because of the different features our public blockchain offers. Rather than our crowdsale hitting its cap because of a small number of large ‘whales’, we have the support from a community that truly believes in the project we will build, and that’s just as much a success as raising $50 million.”
Founded in 2017, FUSION provides a comprehensive solution for integrating cryptocurrencies that exist today and ones that will be issued in the future by connecting centralized and decentralized organizations, balancing authentication and anonymity, and integrating both on-chain and off-chain data. FUSION utilizes distributed bookkeeping nodes to control various types of tokens’ private keys, and establishes a control and management layer on top of different types of blockchains.