Furucombo is a DeFi (Decentralized Finance) strategy platform that allows users to create and manage complex automated trading strategies without the need for coding skills. It aims to simplify DeFi by providing a user-friendly interface for combining different DeFi protocols into customizable "combos" or strategies. Furucombo's DeFi strategy platform revolutionizes the landscape of decentralized finance by democratizing access, enhancing efficiency, and providing greater control and customization to users.
In this article, we will learn about Furucombo, its native token FURUCOMBO or COMBO, its tokenomics, the history of Furucombo, its features, the value of the COMBO tokens, and, finally, we will provide a step-by-step guide on purchasing COMBO tokens.
What Is Furucombo?
Furucombo is a powerful tool designed to empower end-users in optimizing their DeFi (Decentralized Finance) strategies in a user-friendly and efficient manner. Acting as a DeFi portal, Furucombo serves as a valuable resource to help individuals maximize their crypto wealth.
The platform offers two distinct modes: Invest mode and Create mode. In Invest mode, Furucombo facilitates wealth management farms, simplifying the process for users to make the most out of their investments. By streamlining the procedures, it allows users to efficiently manage their wealth while benefiting from the potential of DeFi.
Create mode, on the other hand, serves as a comprehensive DeFi aggregator tool. It visualizes complex DeFi protocols as individual cubes, each representing a specific feature or action. Users can seamlessly set up inputs, outputs, and the desired order of these cubes to form a "combo." This combo effectively combines multiple DeFi protocols and their functionalities into a single, cohesive transaction. This streamlined approach simplifies the execution of various trading actions, enabling users to efficiently monitor and manage their trades in one place.
A crucial aspect of Furucombo's Create mode is its fee structure. A 0.2% fee applies to any transaction performed within Create mode, and this fee is based on the initial fund used for the combo setup, rather than the transaction volume itself. Various actions within Create mode are subject to this fee, including deposits, withdrawals, swaps, adding/removing liquidity, staking/unstaking, wrapping tokens, bridging tokens, and sending tokens. It's important to note that certain actions are exempt from this fee, such as flash loans, borrowing funds from lending protocols, un-staking from the synthetic cube, and generating vaults from Maker or Bprotocol.
Bprotocol is a backstop liquidity protocol built on top of DeFi lending platforms. As of now, Furucombo supports integration with Maker through B.Protocol. This integration further enhances the platform's capabilities and provides users with a wider array of options to optimize their DeFi strategies.
In summary, Furucombo is an indispensable tool for both newcomers and experienced users in the DeFi space. With its intuitive drag-and-drop interface, it simplifies the optimization of DeFi strategies and offers a Create mode that combines various DeFi protocols into a single, easy-to-execute combo. Its transparent fee structure ensures that users are aware of the costs associated with their actions, making Furucombo a reliable and efficient DeFi portal for managing and growing crypto wealth.
What Is the FURUCOMBO Token?
FURUCOMBO (COMBO) is the native token of the Furucombo platform. It is used to power the Furucombo ecosystem. The mission of COMBO is focused on strengthening the Furucombo ecosystem. In a multi-sided market, a shared objective among all parties is essential to achieve a synergy where the whole becomes greater than the sum of its parts. COMBO plays a pivotal role in facilitating this collaboration. The following outlines the utility of the COMBO token, providing more insights into how token holders can actively participate in tokenomics and benefit from shared interests.
1. Fees Sharing
The Furucombo platform enjoys multiple revenue streams, and as a COMBO holder, individuals have the opportunity to participate in these income sources, these include;
Receiving a portion of the fees generated from the utilization of Furucombo.
Earning tokens that are rewarded to Furucombo contracts, which may encompass assets like BAL, UNI, SNX, and others.
Gaining fee rebates from various protocols through partnerships, such as those with Aave, Synthetix's volume program, and more.
2. Governance Participation
The Furucombo ecosystem is founded on community-driven governance, with a comprehensive roadmap set for the upcoming year. Significant updates and releases are scheduled on a quarterly basis. The governance of Furucombo will eventually rely on the utilization of COMBO tokens. This governance framework will encompass essential features such as proposing, voting, and making decisions on various aspects, including:
Integrating new cubes into the platform.
Delisting existing cubes as necessary.
Establishing new partnerships to enhance the ecosystem.
Distributing additional tokens reserved for the community.
Providing grants to combo creators, developers, and other contributors.
Through the power of COMBO tokens, the Furucombo community will actively shape the future of the ecosystem and foster its continued growth and success.
3. Unlock Premium Features
In recent years, Furucombo expressed its commitment to introducing new features and integrations. The team showed great enthusiasm for significant additions that promise to enhance user experience substantially. Notably, access to these exceptional features will be exclusive to COMBO holders. Furucombo operates under the ownership and shared participation of COMBO holders, and the core development team is diligently overseeing a seamless and gradual transition of ownership in the months ahead.
COMBO Token Distribution
COMBO Token Statistics (July 2023)
History of Furucombo
Furucombo emerged in 2020 as a prominent DeFi composability platform, revolutionizing automated trading strategies for users without any coding knowledge. The platform's inception is credited to Hsuan Ting Chu, an experienced software engineer with more than a decade of experience in the technology industry.
The name "Furucombo" stems from the combination of two Japanese words, "furui" meaning "old" and "combo" representing "combination." This name choice reflects the company's core mission: to democratize DeFi, making it accessible to individuals, including those new to the decentralized finance space.
Furucombo's platform was designed to prioritize user-friendliness and ease of use. Through a simple drag-and-drop interface, users can construct and manage automated trading strategies, assembling various DeFi protocols into a unified "combo."
The Furucombo team comprises skilled engineers and designers, deeply passionate about the potential of DeFi. Their commitment lies in establishing Furucombo as the most user-friendly and accessible DeFi platform available, solidifying its standing in the market.
Features of Furucombo
Furucombo Invest
Furucombo Invest is a user-friendly and intuitive platform within the DeFi ecosystem that offers two primary products: Farm and Fund. With Farm, users can easily engage in staking activities through a streamlined one-button system, eliminating the need for complex calculations and manual LP balancing. Furucombo Invest provides an Auto-Farming feature that automatically compounds rewards, resulting in higher APY and enhanced fund growth.
The platform's transparency is evident in its 20% performance fee, exclusively applicable to the compounded rewards in Auto-Invest Farms. This fee is directed to the treasury for future governance use by Combo holders. Notably, Furucombo Invest does not impose any other charges, such as deposit or withdrawal fees, making it an attractive option for investors.
On the other hand, Fund introduces a fund management system, allowing users to create funds managed by experienced professionals. These fund managers are incentivized through management and performance fees, which vary depending on the fund's parameters. Furucombo Invest serves as a valuable tool for both novice and seasoned investors, empowering them to maximize returns in the DeFi space.
Furucombo Learn Page
The Furucombo Learn page serves as a comprehensive resource where users can explore and educate themselves on various DeFi strategies. Featuring a gallery of strategies built on the Furucombo platform, the page offers convenient filtering options and essential information like APY, liquidity, and rewards to aid users in making informed decisions.
Additionally, users have the opportunity to actively engage with the community by sharing their own combos on the Explore page through the dedicated #combohacking channel on Discord. Furucombo regularly updates the Learn page with fresh content, ensuring users have access to the latest insights and developments in DeFi. All tutorials and articles are meticulously crafted by Furucombo experts, ensuring the highest quality of educational content. Whether users wish to expand their knowledge of DeFi strategies or share their unique insights, the Learn page is an invaluable hub constantly evolving to cater to the DeFi community's needs.
Furucombo Lending Dashboard
The Lending Dashboard represents a recent addition to Furucombo, providing users with a seamless method to oversee their positions on lending protocols like Aave and Compound. Rather than the tedious task of manually adding each cube, users can now manage their positions with a simple click of a button. The new Lending Dashboard opens up various possibilities for combinations, offering enhanced convenience and efficiency in managing lending activities. The following combinations are possible from the new Lending Dashboard:
- Deposit: Initiate a deposit into the lending protocol.
- Withdraw: Withdraw your assets from the lending protocol
- Borrow: This feature enables users to borrow one or multiple assets from the lending protocol, depending on the value of the collateral they have deposited. Usually, the borrowing amount is approximately 80% of the loan-to-value ratio.
- Repay: Users are provided with the capability to repay any outstanding debts they may have on the lending protocol.
- Debt Swap: This feature grants users the ability to exchange their debts (borrowed assets) within the lending protocol without the need to repay the existing debts first, thus eliminating the requirement for upfront funds.
- Leverage: Users can augment their market exposure, whether in a long or short position, by leveraging the current collateral available in the lending protocol.
- Deleverage: Users have the option to close their position on Aave without the need to repay their debts first. This feature proves valuable in avoiding liquidation or closing a position when upfront funds are not readily available.
FURUCOMBO Token Value
As of 22nd July 2023, the current price of COMBO stands at $0.03, and its value is closely tied to its utility within the Furucombo platform. COMBO tokens offer a range of functionalities, including creating and managing automated trading strategies, paying for gas fees on the Furucombo platform, staking to earn rewards, and participating in governance votes. The demand for COMBO tokens is directly influenced by the platform's growth, as more users embrace Furucombo, driving up the demand for COMBO tokens.
Various factors can impact the value of COMBO, such as the continued expansion of the Furucombo platform, the mainstream adoption of DeFi by investors, the price of Ethereum (the underlying blockchain of Furucombo), and the overall health of the cryptocurrency market. It is crucial to acknowledge that the value of COMBO is subject to volatility and may experience significant fluctuations. As such, potential investors should conduct thorough research before considering the investment in COMBO tokens.
How and Where to Buy FURUCOMBO Tokens?
CoinEx is a fast cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including FURUCOMBO, users can now trade easily and seamlessly. To purchase FURUCOMBO on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to FURUCOMBO Trading Page: Once your account is funded, go to the dedicated FURUCOMBO trading page on CoinEx. You can find a search box and enter the term FURUCOMBO to swiftly locate the trading pair associated with FURUCOMBO tokens.
- Choose a Trading Pair: Select the trading pair FURUCOMBO/USDT to trade FURUCOMBO against USDT (Tether).
- Specify the Purchase Amount: Determine the quantity of FURUCOMBO tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade FURUCOMBO on CoinEx, taking advantage of the available trading pairs.
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