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Crosschain Fantom

What is FTM token used for?

How Fantom uses the FTM token. Fantom is a fast and scalable smart contract blockchain. It used Lachesis aBFT Proof of stake consensus.

FTM token is


FTM is the staking and native token of the Fantom Network.

FTM token is used for


  • Staking and securing the networks Proof of Stake consensus.
  • Voting
  • Transaction fees.

How could value accrue to the FTM token?


Locking tokens

  • Staking for the network.
  • Higher yield for longer stakes.
  • Tokenholders has the option to delegate their tokens to a validator and receive staking rewards.
  • Stakers receive sFTM which can be used as collateral in Fantom DeFi.

Fees

  • Fees are paid on every transaction to validators and a portion is kept for the network.

What is Fantom Network?


Fantom is a fast and scalable smart contract blockchain. It used Lachesis aBFT Proof of stake consensus.

How Fantom works


Fantom relies on fewer nodes to secure the network which makes it able to be faster and scale to thousands of transactions per second. It uses Proof of Stake and is fully compatible with the EVM (Ethereum virtual machine) and Metamask.

Proof of Stake

Lachesis is a break-through aBFT consensus algorithm developed by Fantom.

  • Byzantine Fault-Tolerant: up to 1/3 of dishonest nodes.
  • Confirmations: Transactions are confirmed within 1-2 seconds.

Transaction fees

  • Each transaction requires a fee in FTM.
  • Fees are paid to validators
  • 30% of transaction fees are held by a network smart contract.
  • 70% distributed between validators proportional to their transaction reward weight.

Validator Requirements

  • Minimum stake: 3,175,000 FTM
  • Rewards: ~13% APY

Cross-chain

Fantom has an ERC20 token. When you send your ERC-20 to the Fantom Wallet, it’s swapped to Opera Mainnet.

Fantom exists on

1. Opera FTM: Used on Fantom’s mainnet Opera Chain
2. ERC20: Exists on the Ethereum network
3. BEP2: Exists on Binance Chain

This enables cross-chain swapping and transaction easier.

On-chain voting

1 token = 1 vote

Read more here.

FTM token Isssuance


Max supply: 3.175 billion

  • Circulating 2.1 billion.
  • 2 years to distribute all the rewards to reach max supply.

Token sale

  • Date: June 18, 2018
  • 11582 Fantom/ETH
  • Price: ~ $0.04

Docs


Similar projects


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FTM token price


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