The introduction of cryptocurrency back in the 2000s was one of the greatest financial revolutions in the history of humanity. The unparalleled accessibility, security, and transparency that it brought to a legacy system promised to change how we all think of money.
Today, despite most people around the world being aware of crypto and what it can be used for, most don’t understand it.
By making DeFi products easy to access and closer to what people all over the world are already familiar with, Voltage Finance seeks to bring the crypto revolution to every corner. Instead of focusing on complex terminology and difficult-to-access GUIs, Voltage has chosen to focus on user experience.
Will this bet pay off? We believe so, here is what you need to know about Voltage.
The technical nature of crypto and a lack of understanding of how they hold value has long been the main challenge to crypto’s mass adoption.
With money being one of the most essential tools in daily life, it is not a surprise that people don’t want to risk it using Decentralized Finance (DeFi) platforms and other decentralized tools. Voltage Financide is looking to change this reality.
What Is Voltage Finance?
Formerly known as FuseFi, Voltage Finance is a DeFi hub running on the fuse blockchain. As a suite of DeFi tools, the platform aims to offer its users the convenience of having an all-in-one application for their DeFi needs, whether it is trading, staking, yield farming, borrowing, etc.
Unlike other DeFi platforms, Voltage doesn’t rely on users already familiar with or interested in the increasingly popular web3 model.
While web3 might come with many benefits which Voltage is actively taking advantage of, they chose to replicate the web2 experience on the user’s side. This is not a problem for experienced web3 and crypto enthusiasts but helps beginners access a new world of possibilities.
Voltage also chose to make use of the Fuse Blockchain network, a vertically integrated tech stack focused on providing infrastructure for mobile payments on-chain. The network is entirely community-owned, mobile-first, low-cost, and privacy enabled, making it the perfect choice for a platform like Voltage.
An All-in-one DeFi Solution
Being a one-stop destination for DeFi users of all backgrounds is what Voltage is all about. With this in mind, the platform offers a comprehensive portfolio of tools to its users. These tools include swapping tokens, LP token staking, traditional staking, borrowing, and bridging.
Voltage’s “Swap” feature makes use of an Automated Market Maker and a StableSwap integration developed by the Curve Finance team. It allows users to trade any token for another in a matter of seconds, all while enjoying low trading fees and close to 0% of slippage.
As with most DeFi platforms, Voltage also comes with the possibility of staking Liquidity Pool tokens. This allows these users to generate passive earnings by taking part in the 0.3% charged as transaction fees for every trade, proportional to their contribution.
Voltage’s “Yield Farming” feature allows users to easily deposit their tokens into a liquidity pool, earning their rewards in the form of VOLT tokens.
VOLT tokens can then be traded, stored, or staked by their users, with the latter further allowing them to contribute to the Voltage ecosystem and be rewarded for it. Staking VOLT converts the token into xVOLT, a conversion that is reverted at the moment of unstaking and will always result in a higher number of VOLT tokens for the user.
Given Voltage’s focus on making DeFi as easy as possible, the team has also developed a “Bridge” feature that helps users move between networks.
At this time, this bridge connects the Fuse network with both Ethereum and Binance Smart Chain, the two most popular blockchain networks in the DeFi ecosystem. This means that users are not stuck using the Fuse Network, which while highly effective remains limited in terms of adoption.
In addition to being exchangeable with other cryptocurrencies, the VOLT token also serves as Voltage’s governance token. Users who hold VOLT will be able to vote on community proposals, which will decide the future of the protocol by approving or denying potential changes.
At this time, this approach is not that novel in the DeFi space as users are only able to create proposals and vote via the forums and Snapshot. However, the Voltage team is working on establishing an official DAO platform that would make the process more accessible, transparent, and effective.
To ensure that whales and “flashloaners” don’t have a negative impact on the governance of the protocol, users must hold the VOLT or VOLTx at the time the vote started. This makes it easier for actual users to support the protocol and protect their interests from external interference.
In addition to this, a quorum of 1 million votes is required for a vote to pass and be implemented.
Security Is Paramount
Ever since the DeFi boom of 2020, bad actors have been taking advantage of the increasing popularity of DeFi and crypto to profit themselves. This takes place both by creating fake projects and attacking those with poor security.
To prevent such an event from taking place, the Voltage team has taken multiple measures in addition to using the Fuse Blockchain.
Voltage has been cooperating with security firms like Quillhash to perform several audits ever since it was envisioned. While issues of varied severities were found in the initial audit, Quillhash collaborated with the Voltage team to mitigate their effects and eventually fix them.
The last audit was published in December 2022 and found only 2 low severity issues that were already solved with the remaining 5 being purely informational, an excellent result in the crypto space.
The team has also made use of tools with a proven track record in the DeFi space, such as Saddle Finance’s fork for its “StableSwap” functionality. This has allowed Voltage to build on decades of combined experience from the teams behind popular protocols like Curve Finance, which in conjunction with its team’s own experience ensures the safety of its users.
The Past, The Present, and The Future
Voltage has experienced rapid growth over the past years, catching the attention of crypto investors and venture capitalists alike.
Back in February 2022, the Voltage team managed to raise $3.4 million in private funding from some of the biggest names in the blockchain industry. Investors included Spark Capital, Collider Ventures, Genesis Block Ventures, Sheesha Finance, and Chima Capital.
News about the latest developments has also seen interest in the VOLT token increase over the past month.
CoinGecko showed explosive growth on April 19th when the team announced the new VeVolt governance model, a listing in a “major” CEX, its launchpad, and progress in the “Super Smart Router” feature development.
The team has also announced progress in the development of a new DEX design, the launch of the liquid staking feature, a trading competition, and another major CEX listing, all of which will be their focus for the remainder of this quarter.
With crypto continuing to gain traction, projects like Voltage could mark the difference between DeFi gaining mass adoption and staying as a niche limited to a few tech-savvy investors.
The focus on user experience certainly is a breath of fresh air in a space in which buzzwords and technical jargon have become the norm.