1.	What is Fuel?

#Fuel — In its first version, the project was the first optimistic rollup on Ethereum. In its second version, Fuel changed its approach and became a modular platform that separates transaction execution from consensus. The project’s main product became the L2 solution called Fuel Ignition.

Official Warpcast : @fuel-network
Official X : @fuel_network

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3.	Funding

Investors: Blockchain Capital, Bain Capital Ventures, CoinFund, Fenbushi Capital, TRGC, Almora Capital, Origin Capital, Alameda Research, Maven 11 Capital, Dialectic Capital, ZMT Capital, Blockwall Management, Stratos Technologies, Spartan Capital, YAY Network.

Raised: $90.9 million.

4.	Tokenomics

$FUEL — Governance, staking, and payment/settlement token.
	•	33.1% — Purchasers
	•	20% — Community
	•	15.4% — Ecosystem & R&D
	•	15.4% — Ecosystem & R&D (24 months)
	•	9.8% — Contributors (48 months)
	•	6.2% — Contributors (24 months)

Total supply: ~10 billion tokens.

5.	How It Works

At its core, Fuel Network is a modular blockchain used as an execution layer. Fuel’s primary goal is to enhance Ethereum scalability by creating a developer-focused ecosystem.

Fuel is built on two key components:
	•	Fuel Virtual Machine (FuelVM) — Optimized to address the shortcomings of traditional virtual machines. It uses a UTXO model to enable parallel transaction execution and reduce gas fees.
	•	Sway — Fuel’s proprietary programming language, based on Rust, designed for secure and efficient development, combining the best features of Rust and Solidity.

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Fuel also offers a range of tools and ready-to-use SDK for developers.

As mentioned earlier, the main product within the Fuel Network is the L2 solution Fuel Ignition.

For data storage and availability, Fuel relies on Celestia.

2.	Team

Fuel launched back in 2020, and its development is led by:
	•	John Adler — Co-founder and Vice President of Fuel Labs, also the founder of Celestia.
	•	Nick Dodson — Co-founder and CEO of Fuel Labs, holds a degree in Behavioral Economics from the University of Toronto, and is also the founder of WeiFund.