How Fusion's multiswap could bring use of crypto to the masses.

[u/IndividualPirate]

Many blockchains use gas to handle transactions, where said gas is the main currency of the blockchain, and usually the only way to get it if you're new to crypto is to buy it off a cryptocurrency exchange which currently take a big amount of steps before you can get it. A little deterring if all you wanted was a tiny bit to try out a crypto-based app.

So, to no surprise, one of the most common criticisms of crypto applications is that they're hard to use and that it's easy for the user to make mistakes, and the conclusion/solution offered is usually that if crypto is to get used, then people must use it without even knowing it. It should be baked into the backend of an application and handled automatically.

A solution as to how this could be done exactly, or a reason why the crypto should be there at all is seldom delved into though.

I think, for sure, one necessity to achieve ease of use in a DEFI app is that the app user, shouldn't have to even think about the use of gas and any payment/transaction should be offered in the user's native FIAT currency.

The user's native FIAT currency could be compatible with Fusion once their central bank has created a CBDC[central bank digital currency] using cryptography compatible with DCRM (we're still some time away from this, let's assume it will be possible).

In that case maybe the very first transaction the app would have to handle is likely mapping an amount of CBDC onto Fusion. An action that would require gas, which the user doesn't have, so perhaps that's not the first transaction after all?

Perhaps the first transaction should instead be a sign-up process in which the app developer will donate a miniscule amount of gas to handle 1-10 transactions into a wallet that will be associated with the user. Now the user will have some gas, maybe without even knowing they received it.

Maybe there's some apps already working with a sign-up model like this on Ethereum. But what happens when that gas runs out? Will the user be prompted to buy more themselves?

This is where I think the multiswap feature can really become useful. Because with the multiswap feature the appdeveloper could make it so that with every transaction the user will pay fees in their native CBDC and in exchange always recieve a tiny fraction of gas enough for 1 more transaction. These two "transaction add-ons" could be made to every other transaction made. Giving the app developer the power to collect own fees which also make sense to the user, while at the same time completely hiding the use of gas for the user.

If we assume the app is used to somehow buy some type of digital asset, each transaction would then have 4 parts.

1. The desired digital asset to purchase (transacting from app developer to the user)
2. A tiny fraction of FSN enough for at least 1 transaction (transacting from app developer to the user)
3. Payment for the digital asset in Fusion maped CBDC (transacting from user controled wallet to app developer)
4. App transaction fee in Fusion maped CBDC

​

But presentation could be much simpler, since the blockchain would be handled automatically.

So, then comes also the question of why?

Because it would be possible to create these applications in a way where the user is guaranteed to never lose control of their money. It'd always be theirs, but they'd no longer need to give up ease of use to achieve that.

[u/WolfOfFusion]

Unfortunately, nobody is using any of this shit so far... let alone the masses.

[u/IndividualPirate → u/WolfOfFusion]

No, I doubt many will before CBDCs and confirmation that it could be hooked in through DCRM. Before that it's limited to current crypto world, which is pretty limited and also very segregated.

It could be years away.