Fantom General Update | February 22 2021
Your overview of the last two weeks!
DeFi on Fantom has been developing rapidly, faster than we can write summaries 🔥
DeFi products on Fantom
A timeline of the recent developments.
New assets coming to Fantom
New ERC-20 token contracts are being added to Fantom. You can bring your assets from Ethereum to Fantom for lending and borrowing, trading and minting synthetic assets.
fUSD on Ethereum
Fantom assets will also be coming to Ethereum and will be added to other DeFi protocols there. Such as fUSD.
Bridging Fantom and Ethereum
A multichain bridge allows anyone to transfer assets from one chain to another in a decentralized fashion.
[embed]https://twitter.com/FantomFDN/status/1363494943512170496[/embed]
Users can then make use of their assets in Fantom's DeFi products. Fantom can even power ERC-20 swaps on Ethereum in the background.
https://twitter.com/FantomFDN/status/1363254186398257153
Multichain is live on multichain.xyz
https://twitter.com/AndreCronjeTech/status/1363575906028060672
Cover Protocol on Fantom
One of the most essential DeFi building blocks in insurance. Therefore we are happy to welcome Cover Protocol on Fantom!
[embed]https://twitter.com/CoverProtocol/status/1362124916716371969[/embed]
How does it keep you safe?
- Insured cross chain deposits
- Insured protocol risk
- Insured platform risk
[embed]https://twitter.com/AndreCronjeTech/status/1363019330334564355[/embed]
https://twitter.com/AndreCronjeTech/status/1363721011787567104
The Graph on Fantom
All developers can now use The Graph on Fantom to build their own subgraphs. It makes it possible to query data that is difficult to query directly. Check the documentation to deploy your own subgraph.
https://twitter.com/AndreCronjeTech/status/1362872425801601024
https://twitter.com/FantomFDN/status/1362942846983053314
yVaults on Fantom
With wFTM yVaults, users will be able to earn yield conveniently on their wFTM across all the new yield farming opportunities on Fantom.
https://twitter.com/AndreCronjeTech/status/1363729459220602885
And more ...
We have also spotted Keep3rV1 on Fantom and a flashloan wrapper 👀
https://twitter.com/FantomFDN/status/1362165635074060296
https://twitter.com/crypto_pumpkin/status/1362534350844096512
Ukraine government ministry securing intellectual property on Fantom
The Ministry of Digital Transformation of Ukraine has signed a memorandum with Intelmax to create a platform for the exchange of intellectual property based on the Fantom blockchain. Fantom was chosen as the go-to platform as it increases security and transparency while being scalable and cost-efficient. It is also planned to introduce blockchain technologies in state processes and public services.
👉 Read the government announcement
Afghanistan government pilot memorandum signed
The Afghanistan National Standard Authority (ANSA) and Fantom have signed a Memorandum of Understanding (MoU) for a technological plan that takes advantage of Fantom blockchain tools. Fantom will perform a technology overhaul for ANSA. This will include database migration, anti-corruption transparency tools, and an advanced system for the issuance of specific national certifications.
On-chain governance voted YES on refunding slashed validators
FTM stakers decided to give the funds back to validators 18 and 25. The nodes and their delegators got slashed 100% of their FTM after not conforming with the consensus rules. As it turned out afterwards, it wasn’t a malicious act but rather a technical issue. We are happy to see the Fantom community support fellow members. Welcome back, validators 18 and 25.
https://twitter.com/FantomFDN/status/1361716856529317896
AMA with UniLend
Michael Chen and Simone Pomposi joined the UniLend Telegram to introduce Fantom to the UniLend community and talk about the partnership. UniLend will allow trading, lending, and borrowing of Fantom native assets on Ethereum, expanding Fantom DeFi presence on the platform.
Fantom network stats
You can now easily keep track of DeFi TVL on Fantom with DeFiLlama. With $200,000,000, Fantom is currently ranked #34.
The top 3 assets are
🥇 sFTM - $168,000,000
🥈wFTM - $25,000,000
🥉fUSD - $21,000,000
- Bitwise Asset Management launched a DeFi index fund, allowing accredited investors to gain exposure to DeFi assets. The fund holds 10 Ethereum-based protocols.
- Speaking about funds, the Coinmetrics team put out a beautiful analysis on how trusts effectively remove free float supply from the market.
- The Coinbase stock is trading at an implied valuation of $100 billion based on private market data. Investors seem hungry for Coinbase long-awaited direct listing.
Congratulations to block42 on the grant to natively integrate Chainlink on Fantom. The block42 team are long-time supporters of Fantom and have been running a validator node since day 1.
https://twitter.com/FantomFDN/status/1362769483857764358
Community member @pixel_praxis is selling awesome Fantom NFTs on OpenSea and will be giving 30% of the proceeds to a charity funding PC’s for Afghan students. The NFT collection’s topic is Fantom’s pharmaceutical tracking in Afghanistan.
https://twitter.com/FantomFDN/status/1362101668674867202
Onwards and upwards 💪
