How to use $FUN ?

How to Use $FUN

You might be curious about why we created $FUN instead of allowing direct purchases with native tokens or why $FUN isn’t an onchain currency. Here’s a detailed explanation:

Why $FUN?

• Placeholder Currency: $FUN is designed as a placeholder currency to represent your account balance, with a fixed value of $0.69 per $FUN. It’s not a traditional currency token but rather a unit to simplify transactions within our ecosystem.

• Scaling and Multichain Adoption: Direct use of native tokens for purchases would complicate scaling and multi-chain adoption. By using $FUN, we create a unified system that allows users to buy tokens across any blockchain network and platform seamlessly.

Example Scenario

Let’s explore how $FUN improves the user experience with a practical example:

• Tom’s Initial Setup: Tom creates an account and deposits $1000 USDT on the Ethereum blockchain. In return, he receives 1450 $FUN tokens, reflecting the $1000 value at the rate of $0.69 per $FUN.

• Traditional Method: Without $FUN, Tom would need to:

  • Bridge Funds: Move his $1000 USDT from Ethereum to Solana, a process that typically takes 5-15 minutes.

  • Acquire Gas Fees: Obtain SOL for transaction fees on the Solana network.

  • Trade: Once on Solana, Tom can then purchase the new token. If a better opportunity arises on Binance Smart Chain, he would face additional bridging and fee challenges.

• With $FUN: As a Gun Dot Fun user:

  • Effortless Transactions: Tom can use $FUN to buy tokens on any supported blockchain directly. He can purchase tokens on Solana without needing to bridge or handle different assets for fees.

  • Flexibility: After buying and potentially selling a token on Solana, Tom can use his $FUN to buy tokens on Binance Smart Chain or any other network listed on the dApp, all without additional bridging or complex transactions.

Why This Matters

The $FUN system revolutionizes how you interact with multiple blockchain networks:

• Ease of Transactions: Simplifies the process of buying tokens across different platforms and chains.

• Speed and Efficiency: Eliminates the need for time-consuming bridging and cross-chain transactions.

• Enhanced Adoption: Makes it easier for users to engage with various blockchain networks, fostering broader DeFi participation.

With $FUN, you gain a streamlined, efficient way to manage and trade tokens across multiple networks, enhancing your experience and enabling greater flexibility in the DeFi space.