A @FantomFDN Overview - The Sleeping Giant of DeFi
The L1 revolution is gaining momentum. However, one blockchain project that is severely undervalued right now is Fantom.
So here is a thread 🧵 on $FTM
First, let's start with the basics.
What is #FTM?
Fantom is a fast and scalable next-gen Layer-1 platform.
Layer-1 refers to the blockchain networks like Bitcoin and Ethereum.
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$FTM uses a leaderless Proof-of-Stake consensus mechanism called Lachesis.
Simply put, a consensus mechanism is an engine that powers the blockchain.
Lachesis is a faster, more scalable, and more secure choice than the Classical Nakamoto consensus #Bitcoin uses.
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Transactions fees are low compared to $SOL and $LUNA.
Transaction Finality on $FTM is around 1-2 seconds.
Finality is when the block is confirmed. For $ETH, it is 10 minutes, and for $BTC, it could take up to an hour.
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The fact that $FTM is more centralized than a network like $ETH could still be a problem.
However, investors do not care about this in the short run if we look at the success of $SOL and $NEAR.
We wrote a mega-thread on NEAR 👇
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twitter.com/sahicoin/status/1513900967749566464
$FTM is EVM compatible.
EVM stands for Ethereum Virtual Machine.
If you build something on $ETH, you can copy-paste your work with a few changes on $FTM, and it should work.
Fantom has established itself as one of the L1s with the best chances of winning in alt-EVM wars.
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Because of this seamless interoperability, several ETH-based apps have chosen $FTM as their multi-chain deployment approach. Some of the tech being created on Fantom will completely revolutionize DeFi.
It is one of the most developed L-1s, Significantly undervalued.
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If the use case is so great, why is $FTM undervalued right now?
The Market cap to Total value locked ratio, or MCap/TVL, is one of the first metrics analysts gauges to see if a project is undervalued.
So, what exactly does this mean, and is it a reliable indicator?
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TVL represents the total value of assets locked on the chain or protocol. Therefore, TVL is often seen as a measure of the overall health of any given DeFi protocol.
The higher the TVL, the more $$$ is being implemented on the chain.
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Fantom has a market cap of just under $3 billion with $5.84 billion in TVL.
So how does this compare to other layer 1 chains?
By this metric, as shown below, $FTM is significantly undervalued with a ratio of just 0.50
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$FTM is sometimes called 'ghost chain' and has no activity, but it's not true.
$FTM ecosystem is rich with innovation, thanks to some of the best minds in DeFi.
Let's Look at some of the great projects in $FTM ecosystem👇
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Lending/borrowing: @MIM_Spell, @TarotFinance, @Screamdotsh
,
@GeistFinance
Yield optimizers: @finance_beefy, @iearnfinance
,
@reaper_farm, @tombfinance
OHM /add forks: @xPhantomDAO
,
@Spartacus_Fi
,
@HectorDAO_HEC
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Oracles: @BandProtocol
,
@Chainlink
,
@API3DAO
Data:
@FTMScanHQ
,
@TheGraph, @Covalent_HQ
Wallets: fwallet, @Metamask, Coinbase
Wallet, @Ledger
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Want to earn a +1000% yield on your $FTM bag?
Here is a 🧵by @shivsakhuja
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twitter.com/shivsakhuja/status/1473991702926946304
The $FTM community is the most welcoming and encouraging you'll find in the crypto space, and they'll gladly assist you on your DeFi journey.
Join the discord server, and ask questions.
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discord.com/invite/zS4Ek4WByA/
If you want to learn more about the projects on $FTM, check out this Website👇
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projects.fantom.network/
For all the $FTM alpha, here is a list of folks you should be following; they share fantastic insights and information.
@FTMAlerts
@crypto_klay
@NickDrakon
@Tweak896
@ChadMcchief
@oscarroriz
@doublesp33k
@milesdeutscher
@deficryptofarm
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If you have found this thread 🧵 helpful, please consider liking and sharing it, and do give us a follow, it helps us out!
We at @sahicoin strive to provide Simple and Honest Information for crypto enthusiasts 💪
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