4 Reasons Why You Should Pay Attention To Fantom (FTM)

CryptoMode Fantom Protocol fMint DeFi

Based on the recent developments in the cryptocurrency industry, there is a significant price increase for Fantom (FTM). Some people may see this as a random pump, yet there are other things at play. Plenty of developments behind the scenes confirm the ecosystem is performing well.

Decentralized Price Feeds

For users of the Fantom Opera network, there is one exciting development to look forward to. The Fantom Foundation confirms decentralized price feeds are now live on the network. Secured by Band Protocol, all feeds are ready for integration by developers building on Fantom’s blockchain today and in the future. 

Eventually, the integration of these decentralized price fees may give birth to cross-chain DeFi operations and projects. While decentralized finance has a lot of potential, the majority of projects center around one blockchain only. Changing that narrative will require different tools, including decentralized price feeds. The team will provide developer documentation to integrate price data shortly. 

The Graph Collaboration

In a somewhat surprising turn of events, The Fantom Foundation decided to collaborate with The Graph. As a result, it will become possible to take a big step toward developing the Web 3 ecosystem.  By giving developers more options to experiment with – such as subgraphs – querying data across multiple blockchains becomes possible.

Furthermore, this collaboration paves the way for cross-swapping with Ethereum and other blockchains to be supported in the future. Developers will now also be eligible for The Graph Foundation grants by building new tools and services. A significant step forward for both ecosystems, yet it remains to be seen what developers will do with these new options. 

Frax Finance Taps Fantom

The ecosystem built by Fantom provides solutions that other blockchains may lack, particularly on the scalability front, there are vast improvements to explore. Frax Finance’s team confirms the project will be coming to Fantom soon. 

DeFi solutions seem to acknowledge the potential of existing on multiple blockchains, allowing for broader adoption of decentralized finance. All of these projects must keep growing, expanding, and tap into new sources of liquidity. 

Curve Finance Has Arrived

As one of the many projects struggling due to Ethereum’s network costs, Curve Finance is on a mission to explore alternative blockchains. As the network now operates on the Factom blockchain, users can explore the 2pool for USDC and DAI. Keeping in mind how Fantom is EVM-compatible, it will also work with Metamask.

For interested users, it is possible to use the same account as the one you use on Ethereum. It will be interesting to see how many users decide to explore Curve Finance via this alternative approach. Having more options is never bad, but getting users to explore them is a different matter. 

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