Fantom General Update | February 8 2021
An eventful two weeks for Fantom. The main theme is growth, whether it’s social media, website traffic or Fantom users. We are happy to see rising interest.
Here’s a recap of everything you need to know!
Ledger adds support for Fantom
You can now safely store native FTM (Opera FTM) on your Ledger Nano S and Nano X hardware wallets. Even better, you can use all the fWallet features, such as staking, minting and the DeFi suite with it.
How to get started?
👉 Read this guide
Coinbase Custody now supports Fantom
Coinbase Custody, the world’s most trusted custodian for digital assets, now allows institutional investors to hold FTM in a safe way. It’s an exciting first big step in the US market for Fantom.
Coinbase Custody now supports Fantom!
Coinbase Custody is world's most trusted custodian.
Excited for Fantom's first step in the US market. https://t.co/e5Xi6Qni5Q
— Fantom Foundation (@FantomFDN) January 27, 2021
Listings, listing, listings – Fantom on Sushiswap and 1inch
Making FTM and other Fantom assets like synths available on Ethereum is crucial to realize Fantom’s potential.
— Fantom Foundation (@FantomFDN) January 25, 2021
1inch is a DEX aggregator that lets you save on fees.
— Fantom Foundation (@FantomFDN) February 2, 2021
Fantom announces pilot in Afghanistan to increase the efficiency in trade and commerce
The Afghanistan Chamber of Commerce and Investment (ACCI) and Fantom enter into a blockchain pilot program. Fantom technology will help to secure and audit ACCI’s databases and issue national certificates as well as facilitate cross-border paperless trade. Upon successful completion, the parties will work towards a long-term relationship.
Andre explains DAG and blockchain
What are the differences between DAG and blockchain? How are they related to each other? Learn more in our thread on this topic, based on Andre’s comments.
Is Fantom a DAG or a blockchain?
"Two nomenclatures to first clear up;
1. Blockchain the category
2. Blockchain the structure
A blockchain is a DAG.
– Directed: moves in one direction only
– Acyclic: you can't return to a node from the current node
— Fantom Foundation (@FantomFDN) January 26, 2021
UniLend integrates FTM and Fantom synthetic assets
You will be able to use Fantom and synths such as fUSD and fEUR as collateral for lending on UniLend. Listing Fantom native assets on Ethereum-based lending platforms open up new possibilities like leveraged yield farming, deeper liquidity and increased capital efficiency.
Revamped cross-chain swap fee system
- The 5,000 FTM withdrawal limit has been removed.
- Cross-chain swaps cost a fixed fee of 100 FTM. These changes are necessary due to high transaction costs on the integrated chains.
- Opera to Opera transfers don’t incur any additional fees.
Use Cases of Fantom
Fantom is ready to power real-world applications thanks to its scalable aBFT consensus. Take a deep dive and see what’s possible. Spoiler: One platform. Endless possibilities 😉
DeFi, real estate tokenization, CBDC, supply chains, smart healthcare, it all can be made more efficient, transparent and cheaper with Fantom.
Investors are bullish on Fantom
Harry Yeh, Managing Partner at Binary Fintech Group, gave a talk about portfolio diversification in crypto. He shared his view on Fantom and why he invested. We are happy to have Harry by our side and are excited for the way ahead.
Harry’s talk was part of The North American Bitcoin Conference, sponsored by Fantom, that took place on January 28 and 29.
Famous street artist Alec is also a Fantom supporter.
Fantom network stats
A lot of announcements and a whole lot of engagement on Twitter. We see this reflected on-chain, with a strong increase in address growth on Fantom. The daily increase was at 105 addresses per day, with a peak of 259 new addresses on January 29.
Total value locked (TVL) is also growing. With 439,000,000 sFTM and 105,000,000 wFTM, TVL currently stands at 74,000,000$.
- The Robinhood/GME drama has the potential to be the perfect storm for DeFi. Interest for DeFi has been skyrocketing as a result. Questions is if the interest by new users can be retained.
- Elon Musk says bitcoin is ‘on the verge of getting broad acceptance’ by traditional finance people’.
- Crypto and NFTs might build the foundation of the metaverse, a digital universe for people to spend time, with a fully digital economy.
The community engagement is still high and we’re seeing record-breaking numbers on Twitter, our website and the Fantom network.
Onwards and upwards 🔥