Fantom ftm

Fantom is a smart-contract platform providing ledger services to businesses and dApps. Powered by a consensus algorithm ‘Lachesis’, Fantom is designed as a scalable blockchain that’s Ethereum-compatible, making it possible to run Ethereum dApps on Fantom.

Fantom launched on mainnet in Dec. 2019, with a goal for businesses, and individuals to develop dApps with real-world applicability across many industries. They claim Fantom can help solve the classic blockchain trilemma of balancing speed, security and decentralisation.

The protocol is built on the Fantom OPERA Chain to allow apps to achieve instant transactions and near-zero-transaction fees. Fantom Foundation (the Team) is focused on using its technology in areas such as supply chain management, pharmaceuticals, payments and smart city programs worldwide.

A key part to Fantom is Fantom Finance, initially launched on Sep. 19, 2020. It’s a DeFi suite combining a range of DeFi services, such as minting, lending and borrowing. The first component is fMint, allowing users to lock any amount of FTM and use it as a collateral to mint fUSD. The Fantom DeFi suite will feature 3 key components: fMint, fSwap, and fLend—currently, only fMINT is available.

Fantom’s native token is FTM. As of this writing, ~2.5B FTM are in circulation and there is a maximum supply of ~3.175B. The total supply is distributed over variety of tokens standards—currently FTM is available as a native mainnet token, an ERC-20 token, and a BEP-2 token.

FTM has 3 main uses: securing the network through staking, governance, and for fees/payments.

• Used for network fees such as those relating to transactions, deploying smart contracts or creating new networks. An average transaction on Fantom costs $0.0000001, making it useful for payments.
• When staked, it helps secure the network.
• Required for on-chain governance. FTM stakers can propose and vote for changes and improvements in the Fantom ecosystem.
• Will also be used as a collateral in the upcoming Fantom DeFi suite.

The entirety of the FTM supply, including staking rewards, was issued at launch. FTM supply was distributed as follows: public and private sale (including private sale bonuses) (40%), advisors (15%), founding team (10%), strategic reserve (3.6%), staking rewards (31.4%) (to be distributed daily until 2024).

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