Fantom General Update | March 08 2021
Let’s go through all the new developments in the Fantom ecosystem in the last fourteen days!
Alameda Research and BlockTower invest in Fantom
We are excited to welcome Alameda Research and BlockTower as Fantom investors.
Alameda Research has acquired $35m worth of FTM tokens and will collaborate with the Fantom core team in integrating Solana, Serum, Raydium, and other cross-chain products.In addition, Alameda Research will run a Fantom validator node.
👉 Read the announcement
BlockTower Capital, a leading crypto and blockchain investment firm, has acquired a $20 million stake in the Fantom ecosystem through the purchase of FTM tokens.
👉 Read the announcement
New DeFi applications
SushiSwap deployed on Fantom
You can now add liquidity and trade any ERC20 token supported on mainnet using SushiSwap.
👉 Read how to use SushiSwap on Fantom
Curve launches on Fantom
Curve, the stablecoin AMM, has launched on Fantom. You can now swap between stablecoins with low slippage and low costs on Fantom.
👉 Read how to use Curve on Fantom
C.R.E.A.M. launches on Fantom
With Cream, you can lend and borrow ERC-20 tokens on Fantom. At launch, the following 19 tokens are supported: wFTM, CREAM, WETH, wBTC, DAI, USDC, YFI, SUSHI, AAVE, CRV, BAND, KP3R, sUSD, COVER, HEGIC, LINK, SNX, SFI, FRAX.
👉 How to use C.R.E.A.M. on Fantom
Frax stablecoin
The Frax stablecoin is coming to Fantom. Frax is partly backed by collateral, partly algorithmic. The mechanism is working great on Ethereum, keeping Frax pegged to $1. We can’t wait to see it on Fantom.
— Fantom Foundation (@FantomFDN) February 22, 2021
Ecosystem updates
Binance supports native FTM
Users can deposit and withdraw Opera mainnet FTM on Binance. Compared to transfers of ERC-20 FTM and BEP-2 FTM, this significantly increases speed and drastically reduces fees.
#Binance Completes @FantomFDN $FTM Mainnet Token Wallet Integrationhttps://t.co/fzi3lb2pEK
— Binance (@binance) March 1, 2021
Network incident analysis
On February 25 2021, Fantom Opera mainnet halted new block confirmations, which resulted in a temporary outage for 7 hours. No funds were at risk at any time.
The problem was caused by one of the biggest validators slowing down the block emission. This affected another node, which also slowed down as a result. As both together represent more than ⅓ of stake, the network halted.
The team is working on a proposal to lower the validators’ requirements. Once finalized, the community can vote via on-chain governance.
We want to publicly thank all Fantom validators that coordinated and worked together to solve the issue and bring the network live as soon as possible. A big thank you to the community as well for being incredibly supportive and understanding during those hours.
19 new Band Protocol price feeds go live
All the new assets that are getting added to Fantom need price feeds. Band Protocol made price oracles for 19 new assets available on Fantom. These include AAVE, BAND, BTC, COVER, CREAM, CRV, DAI, ETH, FRAX, HEGIC, KP3R, LINK, SFI, SNX, SUSD, SUSHI, USDC, USDT, YFI
1/ Over 19+ new decentralized price feeds are now live on the Fantom Opera Mainnet! Secured by @BandProtocol, all price feeds will be integration-ready for $FTM developers to leveraging the strengths of $BAND, empowering scalable cross-chain #DeFi interoperability. pic.twitter.com/LB068nonhv
— Fantom Foundation (@FantomFDN) February 26, 2021
Four open bounties for developers for a total of $2m DAI
If you are an expert developer, take a look at our open gitcoin bounties:
- Proposal To Optimize Stake Based Emission Speeds
- Proposal To Decrease Message Overheads
- Proposal To Optimize Gossip Propagation And Routing
- Proposal To Implement State Snapshotting And Booting
FTM listed on FTX
You can trade spot FTM and perps
FTM now listed on @FTX_Official! https://t.co/4UdnVphhGV
— Fantom Foundation (@FantomFDN) February 23, 2021
FTM added to Sushiswap Onsen
You will now receive SUSHI token rewards on top of trading fees when providing liquidity for the FTM/WETH pair.
FTM/WETH has been added to the Onsen on @SushiSwap
That means you can now earn $SUSHI on top of trading fees when providing liquidity to the pair. pic.twitter.com/5aW92Zw4JH
— Fantom Foundation (@FantomFDN) February 25, 2021
Native FTM comes to Trezor Wallet
You can now safely store mainnet FTM on your Trezor.
Starting now, you can safely store your Opera mainnet $FTM on @Trezor!https://t.co/8NqP0Kv2tA pic.twitter.com/npVryTpPaa
— Fantom Foundation (@FantomFDN) February 26, 2021
Multisender and Token Faucet now support Fantom
With Multisender, you can efficiently send FTM to multiple addresses at once. Multisender batches up to 145 token transfers into one transaction.
Token Faucet allows you to mint ERC-20 tokens to an address easily.
Multisender and Token Faucet now support Fantom opera mainnet!
Check them out at:https://t.co/D8fFZyQIMShttps://t.co/6oISxqI91A pic.twitter.com/RiVCMB0Wvy
— Fantom Foundation (@FantomFDN) February 27, 2021
Fantom launches BandChain validator node
We have been working with the Band Protocol team for a long time and are happy to strengthen our strategic partnership by becoming an active part of their network.
👉 Read the announcement
Fantom network stats
TVL on Fantom has been on a tear. It now stands at $400m, up 100% from two weeks ago 👀
We also have a new Twitter account that posts Fantom stats daily.
👉 Go give @FantomStats a follow.
- Arthur Hayes is back with a thoughtful piece about the current macro environment and what it means for one’s portfolio composition.
- Citibank released a report on Bitcoin, noting its advantages for international trade. According to the report, Bitcoin is currently at the tipping point of mainstream adoption, which will help the entire ecosystem of digital assets to grow further.
- EIP-1559 will be included in Ethereum’s upcoming London upgrade scheduled for July. Here you can read more about the potential impacts.
Mark Cuban mentioned Fantom in his fireside chat with CZ at minute 13:25. Awesome to have you in the community, Mark 😉
Great to have @mcuban as a $FTM supporter! https://t.co/FdD2oSuGhC
— Fantom Foundation (@FantomFDN) February 26, 2021
