We have finalized the development and audit for Fuse Leveraged Token since early this month. There’s some delay on the launch due to a global pause that currently happens on fuse, making us unable to launch FLT properly on Arbitrum.
After having a few considerations, we have decided to work with midascapital.xyz to launch on binance smart chains. For anyone who doesn’t know about them, Midas Capital is a DAO within the Tribe DAO ecosystem, bringing Rari Capital’s Fuse pools to EVM compatible blockchains.
Fuse is a permissionless money market that allows anyone to create customized and isolated pools for lending and borrowing any asset. Pool creators have the flexibility to modify various parameters (interest rate curves, oracles, collateral factors, etc.) according to their risk appetite.
Timeline
Approximately 2 weeks after the release of this post. Can be sooner or later!
Product selection
We will release a couple of leveraged tokens below:
- WBNBRISE
- BTCBRISE
- ETHBRISE
- CAKERISE
we can’t promise some DROP token yet, but hopefully it will be a surprise!
Mechanism
Fuse Leveraged Token will be built on top of Midas. We will create our own pool and use that particular pool to create our leveraged token. We will also create another front-end on our website that will interact directly with the vault.
More detailed documentation about FLT is available here.
Mint and deposit into Risedle vault
- Go to our website https://risedle.com/binance/markets
- Click on any product that you like to use
- Mint the leveraged token directly from Leverage tab
- You can also deposit BUSD on the Lend section to provide liquidity for the leverage token.
This launch will act as an experimental phase of our product development. We want to create a fully permissionless leverage product in the crypto space and this would be our big first step!