What is Furucombo (COMBO) | What is Furucombo token | What is COMBO token
Furucombo is a tool built for end-users to optimize their DeFi strategy simply by drag and drop. Just like building your own DeFi legos, but you don’t need to know how to code. It visualizes complex DeFi protocols into cubes. Users just need to enter inputs/outputs and set up orders of the cubes (we call this a “combo”), then Furucombo will package all the cubes into one transaction and send out. This is a great tool for people who want to perform actions across different protocols, especially those who want to leverage flashloan.
Furucombo Interface Guide
To start creating a combo, first, you’ll need to select a DeFi protocol. Click the “＋” cube then a menu of DeFi protocols will pop up. Here you can choose which DeFi protocol you want to put in your combo. Each button represents a cube to be set up. Each cube means an action to be executed. The search feature at the top lets you search by defi name, defi action (e.g. swap, add liquidity, etc) or name of the token that is supported under certain defi.
・Initial Funds
When you start setting up cubes, you may see a section at the top left called “Initial Funds”. It means the funds that you must provide at the beginning of the combo to initiate the transaction.
Initial funds are sent directly from your wallet. That been said, you must have enough balance of the token(s) in your wallet otherwise the transaction will NOT be executed. When your wallet is connected, the wallet balance of each token will be displayed here so you can always check before sending out the combo.
・You will receive
On the left, you see a “You will receive” section. These are the funds to be returned back to your wallet at the end of the transaction. It is the result of all the inputs and outputs you’ve built on the right, which are updated every time you make a change of a cube.
👩🏻🏫 Just think that “Initial Funds” is how much you put and "You will receive" is how much you get at the end.
Step by step
Step 1: Setting up cubes
When you select a protocol, you’re led to enter the details of the cube. Here you will frequently see the terms “Input” & “Output”.
Input means the amount of the token you will spend upon executing this action.
Output means the amount of the token you will receive upon executing this action.
Source of input can be tokens you have in your wallet or it can be outputs of previous cubes. Once you set up the cube, you can always edit/delete it by clicking the pen/trashcan icon at the top right of each set.
Step 2: Drag and drop
All cubes you set up are draggable. Simply click & hold the cube and drag it in the order you wish. When the combo is sent, actions are executed according to the order of the cubes.
Example: When you create flashloan, you’ll see a pair of two cubes appear. (1st cube means “borrow” and 2nd cube means “payback”.) The next thing you need to do is adding more cubes (actions you wanna do with the borrowed tokens) and drag them between the flashloan pair.
Step 3: Connect Your Wallet
You can create a combo without connecting to your wallet. But if you want to send out the combo, you must connect your wallet. Simply click the cube with a wallet icon. Then choose your wallet to connect.
Step 4: Sending Out a Combo
The complete flow of sending out a combo would be:
1️⃣ Click “Approve” when your initial funds are ERC20 tokens. You only need to do this once.
2️⃣ Click “Send”, then Furucombo will run an estimate of your combo. If the transaction will fail, a message will pop out as a reminder so you can modify your combo. Conversely, you will see a request pop-up on your wallet to sign the transaction.
3️⃣ Once your combo is sent out successfully, the button changes to “New Combo” and a message with the transaction link pops up. When you see these changes, congrats!
You’ve completed a combo! Don’t forget to share your result on Twitter simply by clicking the Twitter icon.
We’ve also made a video tutorial of this guide. Check it out 👇🏻
Introducing COMBO Token
Summary
- Furucombo has grown tremendously in a mere nine months, becoming a DeFi portal.
- Furucombo V2 will focus on bringing builders, strategists, and normies together, unleashing its full potential of a super-aggregator.
- COMBO Tokens holders are incentivized to share fees collected on Furucombo, participate in governance, and enjoy premium features.
- More than half of the total COMBO token supply will be distributed to the community.
Furucombo Quick Recap
It was a mere nine months ago that Furucombo was launched in March 2020, which initially supported only Uniswap V1 swapping and Compound supply features. Back then, it was unclear where DeFi was heading but we were determined to keep building under the most unfavorable conditions, bear market, no fundings, low tractions, etc. The hard work we’ve put together before the DeFi summer has laid the foundation of what we have achieved today. We are very proud and grateful to share with you that as of December 2020, Furucombo has
- 📈 captured a total of over $170 million in trading volume;
- 👤 onboarded 7,800+ users;
- 💡 inspired ~800 strategies;
- 🛠️ implemented from two cubes to 40+ cubes;
- 🔥 supported eleven DeFi protocols which facilitate 90+% of entire DeFi TVL;
- 🥇 been the only user interface supporting flashloan.
What we have achieved is to empower the degens to create strategies for themselves, including but not limited to flashloan arbitrage and portfolio management on Ethereum.
The achievements show how much activities Furucombo is able to help generate for the DeFi space. Our role has gradually shifted from a transaction batching tool to a DeFi portal, aggregating the majority of protocols to the masses.
Furucombo V2
Furucombo’s growth does not stop here. We have much a bigger plan coming. Our next step is to bring you Furucombo V2, where we will expand the product in three aspects:
- onboard more builders and protocols to maximize capital efficiency;
- integrate cross-chain solutions to tackle the segmentation issue;
- launch pool combo system to let degens become a fund manager to maximize the profit as a whole.
As we shared our vision in “The Road to Becoming a Super-Aggregator” article, our pathway towards super-aggregator is very clear — an optimal ecosystem operating multi-sided markets with builders and users. The last piece of the puzzle would be the key to connect the dots into a self-sustainable ecosystem. That is the reason why we introduce you — COMBO Token.
COMBO Token Utility
The mission of COMBO is to make the Furucombo V2 ecosystem stronger. As in a multi-sided market, it’s crucial to have every party share the same goal to make 1+1 > 2. COMBO is the key to making that happen.
Below we breakdown COMBO token’s utility to share more details on how COMBO holders can be part of the tokenomics to share the interest.
1. Fee Sharing
In case you don’t know, Furucombo does not charge any fee from users. The entire platform is free. No hidden fees. However, to keep the platform running, Furucombo will start charging fees sometime in 2021. There will be various revenue sources for Furucombo, as a COMBO holder, you will be able to have a share of:
- fees collected from using Furucombo;
- tokens rewarded to Furucombo contracts, such as BAL, UNI, SNX, etc;
- fee rebates received from protocols, such as the partnership with Aave, Synthetix’s volume program, etc.
2. Governance Participation
Underpinning Furucombo ecosystem will be the governance participated by the community. Especially in the coming year, Furucombo has a comprehensive roadmap planned ahead of us. Big releases are coming every quarter. COMBO tokens will later be used to govern Furucombo. Features include proposing, voting, and deciding on the followings:
- List new cubes integration;
- Delist current cubes;
- New partnership;
- Distribute community reserved tokens;
- Grants given to combo creators, developers, etc.
3. Unlock Premium Features
Furucombo will continue shipping new features and integrations in 2021. We are particularly excited about some huge features that will provide a robust experience. These killing features will be only accessible with the use of COMBO.
In short, Furucombo V2 is owned and shared by the COMBO holders, and the core development team will make sure the transition of ownership is smooth and steady.
COMBO Distribution
COMBO distribution
- Total Supply: 100,000,000 COMBO tokens
- 26,000,000 for Core Team & Future Hire (vested)
- 2,500,000 for Advisors (vested)
- 19,500,000 for Investors & Shareholders (vested)
- 52,000,000 for Community Growth
The long term success of Furucombo lies in the hands of the community. With that in mind, we’re committed to never stop giving back. We allocate the majority of COMBO token supply for the community, which will gradually be distributed to Furucombo users. Eventually, it will be COMBO holders’ call to decide how we distribute the tokens.
The core development team is committed to the long-term success of Furucombo with a 48-month vesting plan (10-month cliff, linear vested). The portion of advisors, investors, and shareholders are also vested for 48-month with a 10-month cliff, 15-month with a 3-month cliff, 15-month with a 3-month cliff, respectively.
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