Fantom is yet another DEFI focused 'blockchain of blockchains' that offers improved speed, security, scalability, and the Fantom Foundation also happens to have one of the most accessible web sites I've ever seen for any crypto project:
I just really like the way the site is laid out - with all the links seeming to be in the 'right order' and when you scroll down it's very clear what other chains are linked to Fantom and what projects (and what types - Dexs/ bridges/ optimiser and so on) are built on Fantom.
The total value locked in DEFI protocols on Fantom has quadrupled in early October, rising to $6 billion which now means that there is more crypto locked on Fantom than there is on Polygon...
Fantom is a network of networks.
At its core is its aBFT consensus mechanism called ‘Lachesis’ which uses a proof of stake protocol to secure the network.
Lachesis powers Fantom's Mainnet called ‘Opera’ (see what they did there!) which uses Ethereum’s Virtual Machine, and Fantom is compatible with Ethereum, in fact you can access it via MetaMask.
Fantom is modular. Lachesis is just the consensus layer and any application built on it is give its its own blockchain, which can be customised with their own tokenomics
Thus each application is independent of other applications, however communication between these networks is also easy on Fantom.
It's also very easy for existing projects to link to the Fantom network - as many have done, such as Curve, Beefy, Autofarm and many more.
The FTM token secures the network - you can earn up to 13% reward for locking it up for one year and you are rewarded in... Fantom. As far as I can tell the only way you can earn FTM is by locking it up.
There is currently two years of distribution left on FTM, pending any governance decisions which may change this.
As I mentioned above, one thing I like about Fantom is that it's easy to see what's built on it from the Foundation's Website (assuming it's up to date!).....
Thus far there are a few of the usual suspects.... Curve, Autofarm for example, and then there are a few degenerates too - Spooky finance and Tomb Finance for example, which both offer you some of those SILLY APYs for staking their SILLLY tokens.
However, some of the returns on the more 'sensible' Beefy Finance are pretty attractive:
And needless to say there are some generous offers for pooling various coins with FXM.
Well it looks like another viable cross-chain project offering a decent range of DEFI options with very low fees.
It's also stand alone, decentralised and modular, so more attractive than Polygon (dependent on ETH), and Binance (Centralised), and it seems popular.
There are all the usual pooling options and more the unusual (but same old) degen options.
And there's some decent bridges between more established chains such as ETH and BSC too.
And with two years of steady printing to go with FXM, a REASONABLE return for locking it up, FANTOM certainly seems like a reasonable place to park some of your coins for DEFI returns, and maybe, just maybe, FTM is worth a small punt too.
