Fantom: FTM Deep Dive!! Serious Potential??
👻What Is Fantom?👻
Fantom was founded in early 2018 by Ahn Byung Ik. that Fantom is more frequently associated with Andre Cronje, the famous South Africa DeFi developer who created the yearn.finance protocol In the beginning, Fantom’s focus was to create a cryptocurrency that would be suitable for smart cities. To that end, Fantom touted it’s theoretical speed of 300 thousand transactions per second Today, Fantom has turned its focus to DeFi and enterprise solutions relating to supply chain tracking healthcare, tokenized assets, and of course, CBDCs
👨🏫How Does Fantom Work?👨🏫
Instead of a blockchain, Fantom uses something called a directed acyclic graph or DAG for short This is a type of distributed ledger technology that allows any computer connected to the network to process transactions in parallel This set up makes it possible for Fantom to process ‘thousands of transactions per second.’ This is a far cry from the 300k TPS the team initially promised
⛓Fantom Staking⛓
Validator nodes on Fantom must put down a minimum stake of 1 million FTM. Delegators only need to put down 1 FTM and delegation is easily done through Fantom’s web wallet Fantom staking rewards for validators and delegators depend on how long they lock up their FTM for. This can be anywhere from a day to 1 year
💱Fantom DeFi💱
Fantom technically has two DeFi ecosystems. The first is Fantom Finance, and it is designed to be a one stop shop for everything DeFi It features synthetic assets that can be bought and sold using fUSD, a synthetic stablecoin that can be minted using FTM or staked FTM Obviously, Fantom Finance has it’s limits, which is why Fantom has a second DeFi ecosystem consisting of some of the most popular Ethereum DeFi protocols such as Sushiswap and Curve Finance
💸FTM Tokenomics💸
FTM is Fantom’s native token. FTM used for staking, governance, network fees, and as collateral to use the Fantom Finance ecosystem FTM also exists as an ERC-20 token on Ethereum and as a BEP2 and BEP20 token on the Binance Chain and Binance Smart Chain respectively FTM’s total supply across all chains is 3.175 billion. This is FTM’s maximum supply, and all FTM tokens were minted when the Fantom mainnet launched in December 2019
📈FTM Price Analysis📈
Even though FTM’s price looks pretty dismal at the moment, its one of the few cryptocurrencies on the market that’s fully functional. It also checks all the boxes in terms of tokenomics With a market cap of just 600 million at the time of shooting, taking FTM back to it’s all time high of 90 ish cents would not be very difficult
📰Fantom Updates📰
The run up to FTM’s all time high in early May was in response to a flurry of bullish announcements about Fantom The first was a partnership with the government of Afghanistan to track fake medication. The second was a partnership with the government of Tajikistan to power their digital infrastructure And the third was a partnership with a private school institution in Pakistan. Fantom recently partnered with an Uzbekistani consulting firm
📅Fantom Roadmap📅
A recent interview with the Fantom Foundation’s head of marketing suggests that the focus going forward will be around institutional and retail adoption
~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
