Fantom (FTM) To Get Leveraged DeFi

February 14, 2022 11:15 am Comments

Fantom (FTM) is a blockchain that is specifically focused on the decentralized finance space that has been popular for developers to create decentralized apps and DeFi applications on its network.

The blockchain is a proof of stake and is compatible with Ethereum which may be several reasons why it has been able to maintain a sizeable community of support so far.

Currently, Fantom has a total market capitalization of around $5 billion and is ranked as the 32nd largest coin according to CoinMarketCap at the time of this writing.

Investors are optimistic about the future roadmap of Fantom because the number of DeFi applications that are continually being built on the blockchain is impressive with its top three dAPPs having a total combined TVL of around $4.5 billion.

The most exciting thing that is coming to Fantom that was recently announced is that Stader Labs will be introducing liquid staking pools to Fantom which will accelerate Fantom’s position as one of the leading DeFi blockchains in the world.

FxLeaders reports:

Stader Labs is a cryptocurrency staking platform with liquid staking pools and next-generation staking infrastructure.

It is expanding to the Fantom network, with the implementation being complete by March. When the integration is complete Fantom users will be able to participate in liquid staking.

This means that users who have staked FTM, can mint liquid tokens on these stakes FTM and then use these minted tokens to reinvest in Fantom or on other DeFi schemes in other networks.

This means that you can now leverage staking on Fantom and increase the interest collected exponentially. Stader labs will also introduce stake pools where users can easily earn staking rewards.

On top of this, Stader will also increase network decentralization by spreading stake among more validators.

Fantom (FTM) had caught a lot of attention last year in 2021 as it was one of the biggest winners during the crypto bull run where it went from a base price of around $0.20 to a peak of $3.48 towards the end of 2021.

The coin also reached that peak again during January 2022 while the majority of the crypto market had since declined from its all-time highs.

This indicates that there is strength in the outlook of Fantom as investors look forward to the blockchain to take advantage of the expanding DeFi industry that is now starting to gain mainstream traction.

Other metrics that show recent growth on the network include the fact that it had recently had a number of transactions that surpassed those of Avalanche (AVAX).

Coindesk reports:

Transactions on emerging layer 1 blockchain Fantom crossed those on Avalanche this week as crypto users looked for the next decentralized finance (DeFi) play.

Layer 1 blockchains refer to individual blockchain platforms such as Ethereum, Fantom and Solana that can support products and services built atop their networks.

More than 1 million transactions were processed on the Fantom network, compared with 728,000 transactions on Avalanche earlier this week, research from Delphi Digital found.

Such transactional activity on Fantom was previously seen in September, data from blockchain trackers show.

Future DeFi projects that continue to be developed and mature on the network are bringing the expectation that there will be even more inflows of funds to Fantom in the future.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.