Скачать или смотреть What Is Fantom (FTM)? Features, Tokenomics and Price Prediction

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Published on: August 31, 2021
Written by: Hassan Shafiq

Fantom (FTM) is a decentralized and scalable platform that plans to overcome the limitations of (current) blockchain networks. The Fantom (FTM) token holders can stake their holdings and earn staking rewards from the Fantom network.

100% Price Gain After The Launch Of 370M FTM Incentive Program
After the announcement of the 370 million FTM incentive program, the FTM token has seen an increase of more than 100% in its price which now stands at $0.8463. From July 20, where the FTM token witnessed a low of $0.15, the price has gone through the roof and gained 500% by touching an all-time high of $0.9571.

The official FTM website defines the 370m Incentive program as:

‘’From today on, protocol teams will be able to apply for rewards from the Fantom Foundation based on their total value locked (TVL), scaling from 1,000,000 FTM up to 5,000,000 FTM in its first iteration, and to be changed accordingly depending on the needs of builders.’’

How Does Fantom (FTM) Work?
Fantom (FTM) recognizes the limitations of current blockchains in the crypto world and plans to overcome them. The FTM platform is decentralized, scalable, permissionless and open-source which provides it an advantage over major blockchains.

Fantom lowers the costs and increases the performance of decentralized apps (DApps) through Lachesis – a DAG-based asynchronous non-deterministic algorithm that runs the Opera mainnet of Fantom. The main purpose of Opera mainnet is to enable the use of smart contracts through Ethereum's EVM (Ethereum Virtual Machine).

A unique element of Fantom is that its network is completely independent, which means that one area's performance of traffic congestion does not have any effect on other parts of the network. This high level of scalability offered by Fantom (FTM) provides every application with its personalized (independent) blockchain with custom governance rules, tokens and tokenomics.

Unlike Ethereum, which represents a single decentralized machine, Fantom is made up of an uncountable number of decentralized systems which interact with each other, despite working independently in their specific zones.

A major problem that Fantom solves is known as the 'Blockchain Trilemma'. Blockchain trilemma refers to the balance between speed, security and decentralization which cannot be achieved at the same time. Fantom, however, utilizes a permissionless protocol to achieve decentralization and security and uses asynchronous Byzantine Fault Tolerance (aBFT) to process transactions asynchronously which increases the speed of the overall process.

The Vision Behind Fantom (FTM)
Fantom claims to offer high levels of security and scalability, with fast transaction speeds and low transaction costs – an offering that most blockchains don't offer in the crypto world.

The creators of Fantom are making efforts towards starting a digital revolution that makes people more connected, and transforms their lives in a digital economy where everything from identity, payments and personal records become digital assets.

Unique Features Of Fantom (FTM)
Fast, Secure and Cheap Payment Platform
The payments made on the Fantom network take around 1 second and cost $0.0000001. Additionally, the transactions made on the FTM platform are highly secure due to the Proof-of-Stake system.

Staking Rewards For Fantom Holders
Users who stake their Fantom (FTM) tokens on the platform gain an APR of a minimum of 3.79% to a maximum of 11.59%. The rate of APR depends on two factors:

‍‍The amount of FTM tokens staked
‍The total time for which the tokens are staked.

For example, if a person stakes 10 FTM for a period of 221 days, they'll receive 1 FTM token with a current APR of 8.39%.

On the other hand, if someone stakes 20,000 FTM tokens and with a locking period of 30 days, they'll receive 69 FTM with a current APR of 4.14%. To get a custom idea of the APR rate and estimated rewards, you can visit the official website and use the calculator by selecting the number of tokens you hold and the amount of period you want to lock them in the FTM network.

It must be noted that FTM holders cannot trade, buy, or sell their FTM tokens; they have to unstake them first, which will take about 7 days. Also, if FTM holders unstake their tokens before the lockup period is complete, all of their FTM tokens will be burned!

On-Chain Governance
FTM is completely decentralized and permissionless – any decision can only be carried out by FTM holders who have staked their tokens in the FTM network.