Use Fuseswap to exchange GoodDollar G$ to Fuse (or any other) tokens.
Fuseswap is a uniswap clone running on the fuse.io network (fusenet). The Fuse Network is an ethereum sidechain, providing any organisation a great ecosystem to build or deploy their products.
Fusenet provides fast transactions and known gas costs within a Ethereum EVM solidity compliant infrastructure, making it ideal for commercial and non-commercial mobile (and non-mobile) payment solutions.
Known gas costs means it’s possible to create workable business models.
As transaction gas costs on fusenet are low, swapping low value tokens, or doing low value micro transactions (micro arbitrage, micro swaps etc) is economical. Gas is currently often less than $0.00001, and capped at a maximum of $0.01.
This makes it ideal for exchanging GoodDollar G$ tokens to other tokens —FUSE, ETH, WBTC, USDC, DAI etc.
A great thing about Fuseswap is that all tokens minted within the Fuse Studio are available within Fuseswap, so token/community managers can easily provide exchange services to their users.
Maybe even better, any Ethereum mainnet token can be bridged to fusenet, and swapped with Fuseswap. Why pay super high mainnet gas costs when you don’t have to!
Fuse have written an overview article here: Fuseswap Now Live
Read the Fuse docs here: docs.fuse.io/fuseswap/overview
GoodDollar G$
GoodDollar is a global UBI scheme where anyone can claim G$ tokens each day, giving people financial opportunities where they would never have them in their usual lives. Over 46,000 people claim G$ each day!
See the current stats here: https://dashboard.gooddollar.org
GoodDollar runs on fusenet.
It’s easy to swap G$ to Fuse token (or any other token with a G$ liquidity pool) on Fuseswap.
The great thing about GoodDollar is that each wallet has a small amount of Fuse tokens to pay for G$ transactions. This means it’s possible to use Fuseswap without having to first get fuse tokens to pay gas costs.
Of course, if you intend to do a lot of transactions, maybe buy some Fuse tokens with your G$ first, before you run out!
Before using Fuseswap set these things up.
It’s easiest to use a desktop, but it’s possible on mobile.
On Desktop:
- Install the Metamask browser extension. You may need to create a login for the app.
- Add the Fuse Network to Metamask: Add Fusenet to Metamask
- Find your GoodDollar Wallet Private Key (PK) and import it into Metamask !! Keep this private and secure !!
To find your PK, go to your GoodDollar Wallet.
Click the top right settings icon > Export Wallet > Copy your ‘My Private Key’
It’s also useful to make a note of your wallet address. This is your GoodDollar wallet address on Fusenet and can be examined on the Fuse Explorer.
In Metamask > Import Account > Paste you GoodDollar Private Key into the field.
Change the Network to ‘Fuse Network’.
4. You are now all set to use Fuseswap!
5. Go to fuseswap.com. Change the Metamask network to Fuse Network and connect your wallet.
6. You can now swap your G$ tokens to any other token that has a Liquidity Pool. Currently, the largest pool (Dec 2020) is the G$/Fuse pool.
Beware! — Metamask defaults to Ethereum Mainnet gas values. So manually change the gas for your transaction to 1Gwei to minimise the amount of fuse used.
On Mobile:
Use the same process above, but access fuseswap.com website through the browser in the Metamask app, not via your mobile phones web browser.
Fuse and GoodDollar — a great partnership.
Using Fuseswap with GoodDollar G$ is a great combination, giving full DeFi crypto opportunities and experiences to everyone. No upfront costs required, and completely accessible through a mobile phone!
There are users from all over the world claiming G$, swapping to other tokens, investing, staking and exploring financial freedom through DeFi products.
Join in today by signing up at Gooddollar.org and take part in the new economy.
Links:
Official GoodDollar chat on Telegram.
Official Fuse.io chat on Telegram.
