Various decentralized finance (DeFi) token investors rely upon a slew of new information to make their investment decisions. This news is really important for investors in DeFi tokens like Fantom and those considering the Fantom (FTM) price predictions to decide if FTM deserves a place in their portfolio or not. On the other hand, FTM is currently down by 5% due to the downtrend in the Crypto industry caused by Elon Musk tweets. Also, for a long time, Cryptocurrencies have been dragged down by widespread bearish sentiment. The news that Fantom has suffered fewer losses than many of its competitors is intriguing. However, a Cryptocurrency exchange like Gemini came up with some good news for investors by disclosing that, along with three other Cryptocurrencies, FTM will be added to its crypto trading platform. Indeed, investors should rejoice at this news, and it’s possible that this will be the case in the long run. Following the announcement of a $15 million investment by Singapore-based HyperChain Capital, Fantom is rising in trading. FTM-USD is now trading at 57 cents, up roughly 14% since April 28, 2021. For the time being, investors have been left wondering when the diminishing trend in the Crypto markets would stop. Let’s look at the FTM price predictions for 2021 and beyond to understand the future of Fantom Token. What Is Fantom Token (FTM)? The Fantom ecosystem’s lifeblood is the FTM token, which uses the Proof-of-Stake method to enable decentralized governance and security. The FTM token can also be used to pay for Fantom network costs and for seamless payment transactions. Dr. Ahn Byung Ik is the originator of Fantom, the Korea Food-Tech Association president, Michael Kong, who has several years of expertise as a smart contract developer in the Blockchain field, will take over as CIO at Fantom. Fantom is an Ethereum Blockchain alternative that validates transactions using an asynchronous Byzantine Fault Tolerant (aBFT) consensus architecture. The network can now be scalable, decentralized, and secure, rather than simply two of the three. In practice, transactions will almost be immediate, and this means low fees. Fantom launched Go-Opera, a massive network upgrade, last week. Transactions now take less than a second, and network efficiency has increased as a result of this change. As a result, Fantom is one of the world’s quickest Blockchains. FTM tokens have a total quantity of 3.175 billion and are currently in circulation in the amount of 2.5 billion. The remaining tokens should be set aside for staking rewards, according to the Fantom Foundation. What Is the FTM Used For? The FTM token’s primary purpose on Fantom is to safeguard the network through a Proof-of-Stake scheme. Validator nodes must have a minimum of 3,175,000 FTM, and stakers must lock up their FTM in order to participate. Both the nodes and the stakers are compensated with epoch awards and fees in exchange for their services. The Fantom network’s high-throughput, low costs, and high speed make the FTM token perfect for making and receiving payments. Because Fantom is a fully permissionless and leaderless decentralized ecosystem, on-chain governance is required for on-chain governance. Fees on Fantom are quite low, yet they are sufficient to make carrying out an attack exceedingly costly for a malevolent actor. Because Fantom is EVM (Ethereum Virtual Machine) compatible, dApps developers on Ethereum can easily deploy and execute them on Fantom. What Are the Four Main Products in the FTM Suite? Fantom Token is a one-stop-shop for all your decentralized finance (DeFi) needs, which can help DeFi protocols run smoothly with near-instant transaction completion and low fees. In its DeFi suite, Fantom Token offers four key products: fMint: Users can manufacture synthetic assets, such as pegged assets and Cryptocurrencies like national currencies, using this protocol. fTrade: fTrade is a Fantom-based automated market maker (AMM) decentralized exchange (DEX) that can be accessed via the Fantom Wallet. This enables users to conduct any Fantom-based token transaction from a single wallet. Liquid Staking: Users can lock their FTM tokens and receive sFTM tokens (staked FTM) in a 1:1 ratio from Fantom. These tokens are ‘liquid,’ meaning they can be utilized throughout the Fantom ecosystem’s various protocols. Furthermore, there is no charge for minting or returning sFTM tokens. fLend: In Fantom’s lending and borrowing protocols, users can use their liquid sFTM tokens. As a result, consumers can obtain exposure to these products without putting their FTM token investment at risk. Fantom also provides a development environment and enterprise services for enterprises that require safe, scalable Blockchain solutions. All of this is made possible via the FTM token, which ensures the project’s security and decentralization. Furthermore, instead of all processing power being navigated on a single network, Fantom can enable developers to construct their own networks within the Fantom ecosystem. What Are the Cons of FTM Token? Despite … Continued
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