In a major boost for the decentralization and robustness of the network, leading payments and decentralized finance (DeFi) blockchain player, Fuse Network, has announced a token swap between its native token FUSE and Pocket Network’s POKT token.
Pocket Network is a decentralized project that incentivizes node operators to run full nodes and route requests to connect to other public blockchains (RPC calls). Creators of decentralized applications (dApps) on supported blockchains need to stake Pocket’s native token POKT in order to guarantee a proportionate number of relays per hour. This enables application developers to stop relying on centralized full node service providers and significantly reduce the cost of running dApps.
Since launching in July, Pocket nodes have been processing millions of daily Fuse RPC relays. In order to take the integration to a new level, Fuse Foundation and Pocket Network’s POKT DAO have now agreed to execute a token swap in which 250,000 POKT will be exchanged for 750,000 FUSE.
The goal of the swap is to allow Fuse Foundation to stake POKT on behalf of the Fuse ecosystem to ensure the widest possible access to the decentralized transaction relay network for projects, communities, and developers building on top of Fuse.
Commenting on this milestone, Fuse Network CEO Mark Smargon said:
“Pocket’s multi-chain full-node service has been a revelation for developers in the blockchain space. One of the last remaining hurdles to full network decentralization and censorship resistance has now been cleared, and we at Fuse are happy to be leading the way through becoming one of the biggest blockchain communities supported by Pocket.”
Fuse Network is a project and ecosystem featuring a fast and low-cost, Ethereum-compatible blockchain and a robust plug-and-play mobile-centric crypto payment infrastructure.
About Pocket Network
Pocket Network is a two-way marketplace that matches blockchain application developers seeking unstoppable node infrastructure with RPC infrastructure providers and node runners who are incentivized via the POKT token to run full nodes through it’s decentralized protocol.
Robert Miller, Marcom Director
SOURCE Fuse Network