Fantom

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Fantom (FTM), a leading Layer 1 (L1) blockchain platform, has launched a new Gas Monetization program to incentivize high-quality Decentralized Applications (dApps) and attract top talent to the ecosystem. 
With the recent announcement of the long-term vision for the protocol by Andre Cronje, co-founder of the blockchain platform, the community is buzzing with excitement for the future of Fantom.
Fantom’s Gas Monetization, which just went live on May 28th, is one of the most highly anticipated updates for the platform. The governance proposal was first approved in January 2023, with an overwhelming 99.8% of the votes, showcasing the community’s support for the initiative.

Fantom Launches Gas Monetization Program
Gas monetization is an incentive program to reward high-quality dApps for their generated fees. These dApps will receive a 15% kickback on all the gas fees generated, incentivizing development and attracting more developers to the ecosystem. The money for this reward comes from the fact that the FTM burn rate will be reduced from 20% to 5%.
This is a win-win situation for both developers and the Fantom network. Developers are compensated for the value they create on the network, while the network benefits from increased adoption and usage. The reduction in the FTM burn rate also helps control inflation and gives more stability to the token’s value.
Francesco, a leading figure in the blockchain industry, remarked that this incentivization of development is exactly what Fantom needs to achieve its goals. With Gas Monetization, the platform is taking a significant step forward to become one of the leading L1 giants in the blockchain industry.
However, the mechanism could be targeted by spam dApps and malicious actors trying to exploit it. To prevent such exploits, Fantom has implemented certain criteria that dApps must meet to be eligible for Gas Monetization.
Fantom’s Eligibility Criteria
A dApp must have completed at least 1 million transactions and been live on the Fantom network for at least 3 months to be eligible. These criteria are valid for each smart contract on the Fantom mainnet and may be subject to change during the program based on their effectiveness.
Once approved for the program, dApps will receive 15% of the gas fees they generate. The FTM tokens received are unlocked and can be used as the dApps see fit. However, what happens to the 15% share of gas fees made by dApps that do not participate in the Gas Monetization Program?
These transactions are ineligible and do not qualify for the 15% share of gas fees. The Fantom Foundation has clarified that only dApps that meet the eligibility criteria can participate in the Gas Monetization Program and receive rewards for their contributions to the network.
The Foundation also reserves the right to suspend rewards to participating dApps for any necessary reason, including fraudulent user activity or the overall well-being of the Fantom ecosystem.
The Gas Monetization Program is a great opportunity for dApps to showcase their value and be rewarded for their contributions to the network. However, ensuring that spam dApps or malicious actors do not exploit the program is essential.

This new approach is just a series of incentives Fantom builds to attract developers and keep them engaged with the ecosystem. The platform’s long-term vision includes creating a decentralized finance (DeFi) ecosystem that is fast, secure, and user-friendly, with various dApps and tools that make it easy for users to interact with the network.

Featured image from Unsplash, chart from TradingView.com 


Fantom (FTM), a leading Layer 1 (L1) blockchain platform, has launched a new Gas Monetization program to incentivize high-quality Decentralized Applications (dApps) and attract top talent to the ecosystem.  With the recent announcement of the long-term vision for the protocol by Andre Cronje, co-...

newsbtc.com

Fantom (FTM) Gas Incentive: The Secret Sauce To Reclaiming L1 Dominance

Rumors of the arrest of the Multichain team have sent shockwaves throughout the Fantom ecosystem. Despite trading volumes of $129 million, the fear, uncertainty, and doubt (FUD) have resulted in a 5x increase in daily bridging volumes. However, upon closer examination of the on-chain data, the bridging volumes do not show a significant sign of panic.

Fantom’s Risky-Wrapped Token Exposure
According to a Twitter thread by the crypto researcher DeFi Ignas, Fantom (FTM) is the most exposed to Multichain’s wrapped tokens. This suggests that Fantom is particularly vulnerable to any negative impact that may result from the rumored arrest of the Multichain team. This is because Fantom has significant exposure to Multichain’s wrapped tokens, with 35% of its total value locked (TVL) dependent on these wrappers.

In addition, Multichain issues 40% of non-FTM assets, which is equivalent to a sizable $650 million. This means that if anything were to happen to Multichain, it could have a significant impact on the overall value of these assets.
Furthermore, Multichain handles 81% of Fantom’s total stablecoin market capitalization. Stablecoins are digital assets that are pegged to the value of a real-world asset, such as the US dollar. They are often used as a way to hedge against market volatility. However, If anything were to happen to Multichain, it could have a significant impact on the value of these stablecoins and cause instability in the Fantom ecosystem.
Fantom Investors Stay Calm Amid Multichain Arrest Rumors
According to Ignas, there should have been a significant outflow of Total Value Locked from Fantom due to its reliance on Multichain. However, the data shows that the amount withdrawn was only 1% of its total TVL of $1.78 billion, which indicates that there is not much panic in the market.

Furthermore, while the TVL has dropped by 9.55% in USD, adjusting for the price of FTM shows no significant outflow of capital. The clearest and only sign of panic is the Multichain Liquidity Providers (LPs) on Fantom, with a total of $33 million being withdrawn by LPs from Fantom, and only $1.7 million in deposits.
However, what is most worrying is the lack of communication from the Multichain team. It has been reported that the current Multichain CEO Zhaojun hasn’t been online in a week. This has left many investors and traders in the cryptocurrency market feeling uncertain about the future of the project.

Additionally, Multichain has reported that some of the cross-chain routes are unavailable due to force majeure and that Kava, zkSync, and Polygon zkEVM routes were temporarily suspended. There were also 83 transactions pending for more than a day, which has raised further concerns among investors and traders.

Featured image from Unsplash, chart from TradingView.com 
 


Rumors of the arrest of the Multichain team have sent shockwaves throughout the Fantom ecosystem. Despite trading volumes of $129 million, the fear, uncertainty, and doubt (FUD) have resulted in a 5x increase in daily bridging volumes. However, upon closer examination of the on-chain data, the br...

FUD Or Fact? Multichain Team Arrested, On-Chain Data Uncovers Fantom Exposure To Wrapped Tokens

Fantom (FTM) has been on a bearish movement since April 19, 2023, resulting in a loss of about 30%. The price decline contributed to the negative market sentiment around the asset, making it hard for any possible retracement. 
However, these days, some minor green candles indicate a potential bullish trend. This is because the price of Fantom experienced rapid price action recently as the bulls took back control and increased buying pressure.
Examining The Bullish Trend of Fantom (FTM)
The recent bullish momentum has triggered a significant price action resulting in a price increase in the general FTM market. The price of FTM has increased by 5.09% in the last 24 hours trading session, taking the token to a high of $0.3885.
Related Reading: Bitcoin Tweets Surpass Dogecoin Despite Meme Coin Craze
Also, with an increase of 57.26% in the 24-hour trading volume, the overall market cap is currently up by 5.09%. This data confirm the bullish momentum present in the asset.
Furthermore, the current significant buying and selling activities suggest a surge in market participation, likely leading to heightened price volatility.
The current market sentiment of Fantom (FTM) is Neutral, while the Fear & Greed Index is showing 50, meaning Neutral. This indicates that the market is stable, with no pressure from bears or bulls. 
The recent development and partnerships with SUPA Foundation also contribute to the bullish sentiment among investors and traders. 
As more individuals and institutions recognize the potential and value of the Fantom ecosystem, it’ll drive up buying pressure and support an upward price movement.
Fantom (FTM) Technical Analysis
Fantom currently trades above the 200-Day Simple Moving Average but below the 50-Day Simple Moving Average. This may indicate a mixed or transitional phase in Fantom’s price action.
The asset trading below the 50-Day SMA suggests a short-term weakness or a corrective phase in the price of FTM. Traders may use the 50-Day SMA as a resistance level preventing the FTM from moving higher.
The asset is trading above the 200-Day Simple Moving Average, indicating a potential long-term bullish price movement.

In general, the asset trading above the 200-Day SMA but below the 50-Day SMA suggests a phase where there’s a conflict between buyers and sellers. The Relative Strength Index confirms the present market indecision as Fantom is currently at the 44.53 region, which signifies neutral pressure.
The Moving Average Convergence Divergence (MACD) is slightly below the signal line, indicating a low pressure from the bears.
FTM trades between its support level of $0.3585 and resistance level of $0.4498, respectively. With increased bullish sentiment and buying pressure, FTM might hit the next significant resistance level of $0.5499.

Conversely, if the bears increase selling pressure and the bulls fail to hold their positions, FTM might change the trend and drop sharply to the next support level of $0.3034.
Featured image from Pixabay and chart from Tradingview.com


Fantom (FTM) has been on a bearish movement since April 19, 2023, resulting in a loss of about 30%. The price decline contributed to the negative market sentiment around the asset, making it hard for any possible retracement. However, these days, some minor green candles indicate a potential bull...

Fantom (FTM) Price Surge Hints At Bullish Trend, What’s Ahead?

Fantom (FTM) co-founder Andre Cronje is teasing the launch of a new cryptocurrency-friendly bank later this year.
Cronje tells his 384,500 Twitter followers that a bank providing crypto-related financial services may launch later this year.

“Need a card, or just payments infrastructure? If the latter, I can add you to our closed beta. If card, that will be available by end of 2023, crypto-friendly bank available to public within this year.” 
However, Cronje says that the services will likely not be available to the citizens of the United States, citing an anti-crypto stance from US regulators.
“Legally we can, but given the USA’s stance, we probably won’t accept US citizens.”
Cronje also says that the financial services would fall under the know-your-customer (KYC) guidelines and regulations, which apply to traditional financial services.
“No, it’s a standard banking license, we can’t avoid KYC.” 
Cronje broke the news of the banking plans when responding to a tweet from Curve Finance CEO and founder Michael Egorov alleging that the financial technology company Revolut had blocked his account after disclosing to them that crypto was the source of his funds.
“Learned recently on practice that Revolut App is not crypto-friendly. Have been their customer since 2016, but they closed my personal and business accounts once they got information (from me showing) that source of funds is crypto.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Fantom (FTM) Founder Andre Cronje Drops Hint About New Crypto Bank appeared first on The Daily Hodl.


Fantom (FTM) co-founder Andre Cronje is teasing the launch of a new cryptocurrency-friendly bank later this year. Cronje tells his 384,500 Twitter followers that a bank providing crypto-related financial services may launch later this year. “Need a card, or just payments infrastructure? If the la...

dailyhodl.com

Fantom (FTM) Founder Andre Cronje Drops Hint About New Crypto Bank

A crypto strategist who nailed Bitcoin’s (BTC) 2018 bear market bottom says that a trio of altcoins is giving warning signs for the rest of the crypto markets.
Pseudonymous analyst Smart Contracter tells his 222,300 Twitter followers that he has reduced his crypto holdings after seeing the charts of Fantom (FTM), The Graph (GRT) and dYdX (DYDX).

According to the crypto strategist, the three altcoins appear to be on the cusp of a sell-off event.
“Haven’t looked at any charts over the last few days over Easter, but I actually just trimmed some exposure now after having a proper scan.
Seeing quite a few bear flags breaking down on a lot of alts which may be giving off warning signs for the rest of the market.” 
Source: Smart Contracter/Twitter
Looking at the trader’s chart, it appears that Ethereum (ETH) rival Fantom has already taken out the diagonal support of the bear flag, with the next support at around $0.386.
At time of writing, FTM is trading for $0.453.
As for blockchain-indexing protocol The Graph, the crypto analyst shares a chart showing that GRT is in the midst of an ABC corrective wave while trading in a bear flag with a downside target at $0.12.
Source: Smart Contracter/Twitter
At time of writing, GRT is trading for $0.144.
Looking at the decentralized exchange dYdX, the trader shares a chart to show that the altcoin has already broken down from a bear flag.
Source: Smart Contracter/Twitter
At time of writing, DYDX is worth $2.47.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/4K_HEAVEN/WindAwake
The post Analyst Known for Calling Bottoms Says Fantom and Two Other Altcoins Flashing Warning Signs for Crypto Market appeared first on The Daily Hodl.


A crypto strategist who nailed Bitcoin&#8217;s (BTC) 2018 bear market bottom says that a trio of altcoins is giving warning signs for the rest of the crypto markets. Pseudonymous analyst Smart Contracter tells his 222,300 Twitter followers that he has reduced his crypto holdings after seeing the ...

Fantom price	$0.323341
Low - High 24H	$0.31886 - $0.325988
Market cap	$902.38M
Volume 24H	$73.07M
All time high	$3.46 -90.65% October 28th 2021
All time low	$0.001902 16897.18% March 13th 2020
Genesis date	N/A

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