Fantom General Update | 15th June 2020

Fantom General Update | 15th June 2020

Since the last General Update, we've been working on several important aspects of the Fantom ecosystem. We released the new PWA wallets that bring additional functionalities, and we're continuing to push additional updates and features automatically.

The proposed fluid staking model has been well received, and we look forward to the community vote in the coming week; we're finalizing the date.
Initial tests have also shown that by changing internal parameters relating to GAS, we would be able to increase the TPS of the network significantly.

Meanwhile, we've also maintained the intensity of work associated with Fantom Finance - from minting fUSD to Oracle work and fLend.

Launching the new PWA Wallets

The new PWA wallets make it easier than ever to hold and stake FTM. Swapping between ERC20, BEP2 and Opera FTM is effortless: click the 'Receive' button in the wallet, select the token type you're sending to the wallet, and a unique address is generated to send your FTM.

Other improvements include a streamlined staking process with support for identifying validators by name, as well as increase delegation, partial undelegation, claim rewards features introduced with the latest SFC upgrade.

We'll continue to push updates and new features to the PWA wallets automatically. Please restore your wallet(s) to the new PWA wallet site as soon as possible.

You can find installation instructions here, at the beginning of the wallet guide.

Fluid Staking proposal

We've proposed a new staking model for the Opera network, to take effect after the rewards unlock date. When thinking of potential models, we asked ourselves the following question:

Can we propose a new staking model that's more sustainable (lower inflation, a longer reward runway, etc.) while allowing our most committed network participants to continue earning rewards that significantly outperform inflation of the network?

The proposed solution is fluid staking: FTM stakers can choose a lockup period, and receive an annual reward rate proportional to their lockup period. Those that commit to staking for the longest period get the highest rewards, while those who prefer flexibility are free to choose no lockup or a shorter lockup period.
This model keeps inflation across the network to a minimum while still allowing holders to earn high real returns.

An on-chain vote will take place in the coming week to decide which model will be adopted. Please stay tuned to the Fantom announcement channels for this information.

Fantom Finance

With the upcoming release of our full-featured DeFi suite, Fantom Finance, we've also been working on the various technical components required for launch. For example, a price oracle for FTM to mint fUSD, the smart contract for maintaining fUSD debt balances, and the front-end wallet updates to make it all accessible to users.

More details of individual commits related to Fantom Finance can be seen in our latest Technical Updates, here and here.