Fantom (FTM)

Fantom is a Layer 1 blockchain that features multiple execution chains on top of a single consensus layer, earning the nickname “the Ethereum killer.”

The Fantom team built a new model for reaching consensus called the Lachesis protocol, which is an Asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism using Directed Acyclic Graphs.

The big innovation with this model is that transactions are not confirmed between nodes in a particular order.

Instead, individual nodes confirm transactions and then agree with other nodes later in no particular order.

This model results in enhanced performance in terms of speed, scalability, and security relative to older consensus models like Classical and Nakamoto.

In addition to the consensus layer, Fantom uses an EVM-compatible smart contract chain called Opera.

With its enhanced consensus performance, Fantom has been viewed as a strong alternative to the Ethereum network as it takes very few adjustments to deploy EVM-compatible smart contract dApps onto the Fantom network.

What is the Fantom (FTM) token?

FTM token is the native token of the Fantom network and is used to pay transaction/smart contract fees, as well as for staking to participate in Fanton’s on-chain governance system and to secure the network.

FTM tokens are also given as compensation for validators participating in transaction processes and preventing spam transactions.

As an ERC-20 token, FTM can be used across in DeFi offerings other EVM-compatible platforms, and blockchains, including the Ethereum network, Avalanche, and Binance Smart Chain.

Team Background

Fantom Foundation was founded by Ahn Byung Ik and led by Michael Kong as the CEO.

Ahn Byung Ik holds a Ph.D. in Computer Science from Yonsei University in Seoul, Korea. In 2010, he established a food-tech platform called SikSin and is the President of the Korea Foodtech Association.

Michael Kong studied Information Technology and Finance at the University of Sydney, where his final thesis was on decompiling and analyzing virtual machine instructions for the EVM to find issues in smart contracts.

Notable Investors: Alameda Research, Arrington XRP Capital, Block Tower Capital, Elysium

Token Metrics: 

  • Holders Addresses: 3.6M on Fantom, 94K on Ethereum, 76K on Binance Smart Chain
  • Tokens in supply: 2.818B FTM
  • Tokens in circulation: 2.545B FTM
  • Inflation Rate: 8.58%

Notable Projects:

  • SpookySwap: DEX
  • Geist Finance: decentralized liquidity market
  • Tomb Finance: algorithmic stablecoin
  • Curve: Stableswap DEX
  • Beefy Finance: Yield Aggregator

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