$FUSN Snapshot
Answers to the most common questions related to the $FUSN Snapshot.
1: What is the purpose of IIP-35?
IIP-35 proposes a token migration from IPOR to a new token, FUSN, to support the growth of the Fusion protocol. It includes rebranding the protocol to Fusion, raising additional capital via a SAFT agreement, and transitioning the IPOR DAO to the Fusion DAO.
2: Why is the token migration necessary?
The migration is needed to focus on Fusion as the core product, secure additional funding for technical development, operations, business development, and marketing, and position the protocol for long-term success in expanding markets like onchain asset management and structured products.
3: How will the protocol be rebranded?
A: The protocol will be renamed Fusion to reflect its core focus, and the IPOR DAO will transition to the Fusion DAO, inheriting all existing assets, liabilities, and protocols.
4: What happens to existing IPOR token holders?
IPOR token holders will receive FUSN tokens at a 1:1 ratio based on a snapshot of their holdings, taken on May 9, 2025, at 02:14:59 PM UTC at Ethereum block height 22446433.
5: What will the snapshot cover?
The snapshot will cover both IPOR and pwIPOR balances on Ethereum, Arbitrum, and Base. Earned but unclaimed pwIPOR will also be included along with any $IPOR held in vesting contracts by the IPOR Labs team and investors.
6: What is the maximum supply of the FUSN token?
The maximum supply of FUSN tokens will be 100 million, equivalent to the IPOR token supply.
7: What changes will occur to protocol-owned liquidity (POL) and pwlPOR liquidity mining?
After the snapshot, POL will be withdrawn from decentralized and centralized exchanges (DEXs and CEXs). pwlPOR liquidity mining will be suspended, but pwlPOR holders will receive FUSN tokens without needing to unstake. When the liquidity is withdrawn, the IPOR token price will trend towards zero since it is effectively discontinued.
8: How will governance function during the transition phase?
When IPOR token-based governance is temporarily unavailable during the transition, IPOR Labs and the IPOR DAO workgroups (economic, governance, and marketing) will act as guardians. A new snapshot space for governance will be set up after the FUSN token launch.
9: What is the plan for fundraising?
10: What are the vesting terms for FUSN tokens?
FUSN tokens for new investors will be locked and subject to vesting. A significant portion of IPOR Labs team members’ liquid tokens will also have vesting aligned with new investors. Other token holders’ FUSN tokens may have vesting, but it will be shorter than or equal to that of new investors.
11: What is the FUSN token utility?
The FUSN token will provide:
Governance voting power for protocol decisions, budget, and incentives.
Fee rebates for asset managers and power users who lock FUSN to reduce Fusion protocol fees.
Buybacks using protocol revenue to burn tokens or add DEX liquidity.
Liquidity mining power-up for derivative pool distribution and buyside demand.
12: What will be the approximate distribution of FUSN tokens after token migration?
Please have a look at this chart:
13: How will protocol revenue be used with FUSN tokens?
Up to 100% of protocol revenue can be used to buy back FUSN tokens for the DAO treasury. The use of these tokens (e.g., improving DEX liquidity) will be decided through snapshot- and workgroup-based governance initially, with a gauge system planned for long-term revenue distribution decisions by FUSN holders.
14: Will interest rate swaps and indices remain part of the protocol?
Yes, interest rate swaps and indices will remain core components and will be expanded. New products combining interest rate swaps and Fusion vaults, like fixed-rate earn or borrow products, are also planned.
15: What is the timeline for the FUSN token launch?
The FUSN token will launch once the protocol achieves significant traction, considering market conditions. The rebrand aims to build TVL, brand recognition around Fusion, and launch in proper market conditions. No specific timeline is provided.
16: Are $FUSN-related incentives campaigns planned?
Yes, $FUSN incentive campaigns will be announced before the launch of the new token.
17: What happens to existing smart contracts and multisigs?
Existing smart contracts and multisigs will remain unchanged during the transition.
18: What should I do if I have a question about the migration that’s not answered here?
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