Explore Fuel with These 3 Apps
On multiple occasions, Vitalik Buterin has applauded or highlighted experimentation in Ethereum’s Layer 2 ecosystem. One example he’s specifically cited before? Fuel.
Consider how today the biggest L2s, like Arbitrum and OP Mainnet, offer full equivalence with the Ethereum Virtual Machine (EVM). In other words, you can make transactions and run smart contracts on these networks in an identical fashion to how you would on Ethereum.
Fuel, on the other hand, has its own bespoke FuelVM. Instead of the account-based architecture that most L2s have inherited from Ethereum, Fuel uses an unspent transaction output (UTXO) approach centered around assets and transactions.
This UTXO style is unique in the L2 landscape today, allowing Fuel to execute transactions in parallel and scale horizontally. Simply put, it’s an advance that has widened the horizon of what’s possible atop Ethereum.
🆕 What’s new with Fuel?
After four years of research and development, the Fuel Ignition mainnet launched in October 2024. This arrival coincided with the activation of Phase 2 of the Fuel Points program. The system works like this:
- 🧮 Activity Points — These points are earnable by deploying assets into Fuel apps. The more you participate, the more activity points you earn, which have the highest multiplier.
- ⛽ Gas Points — Earn 5 points for every dollar spent on Fuel gas fees.
- 🌉 Passive Points — Earn 1 point per dollar of assets held on Fuel, with certain assets offering higher multipliers. This way you can earn points just by bridging into the network.
All that said, most L2s eventually decentralize with a native token, so this points program will presumably factor into airdrop eligibility at some later date. The best way to position yourself for this possibility is to bridge into Fuel and start exploring some of its early apps.
The main way to deposit funds to the Fuel is the main Fuel Bridge, though a handful of third-party fast bridges are currently working on integrating the L2. You can also add Fuel to your MetaMask or Phantom or download a more bespoke wallet like Fuelet to dive in.
📲 3 Fuel apps to try
1. MIRA
Currently, 3 apps offer a bonus x2 multiplier on Fuel Points, and the first is MIRA. A decentralized exchange, the platform makes it easy to trade or provide liquidity for tokens on Fuel. While making swaps will let you earn both activity and gas points, the best bang here would be opening up a liquidity provider (LP) position to earn yield and points. MIRA’s largest pool is its USDC/USDT pair, so you could consider starting there.
2. Swaylend
The next Fuel app offering a x2 points multiplier is Swaylend. A fork of Compound V3, Swaylend is a lending protocol where you can lend USDC or supply assets as collateral, like ETH or USDT, and then borrow USDC against them. The name of the game here, then, is maintaining borrowing and lending positions on Swaylend to rack up activity points.
3. Griffy
The third app offering x2 points on Fuel right now is Griffy. Billing itself as “the NASDAQ of opinion trading,” Griffy is the first predictions marketplace live on Fuel. With markets across topics like crypto, politics, and sports, the way to stack points here is to place “Yes” or “No” bets on the platform. Note that the betting currency is USDT, so you must bridge some in or acquire some on MIRA to get started.