Fantom General Update | November 22 2021
November is slowly coming to an end and we are finishing off strong with the news of the last 14 days.
Expanding the 370m FTM rewards program to support more protocols
Since the launch of our incentive program, TVL has increased by an impressive +600%. The Fantom Foundation now adjusted the reward tiers and minimum TVL requirements to incentivize even more teams to build on Opera.
- Tier 1: 500,000 FTM reward
- Tier 2: 900,000 FTM reward
- Tier 3: 2,500,000 FTM reward
- Tier 4: 6,000,000 FTM reward
The minimum TVL requirement for each tier is 20 x (FTM reward * FTM price in $).
By considering the FTM price in our calculation, we are rewarding protocols for real TVL growth, not TVL growth/reduction based on FTM price changes. As a result, we have a fairer incentive distribution.
To check all info about Fantom’s incentive program, visit our newest blog post.
Fantom multi-chain expansion
We have seen a growing interest of cross-chain projects to integrate Fantom:
- Rubic integrated for multi-chain swaps with Ethereum, Polygon, BSC, Moonriver and Avalanche.
- PolyNetwork announced a Fantom integration.
- SpiritSwap added bridge support for Avalanche and Arbitrum. As a cherry on top, users now automatically receive a small amount of FTM when bridging to Fantom to pay for gas.
- Anyswap has hosted the first Avalanche <-> Fantom cross-chain NFT swap.
- Crypto wallet TokenPocket added support for NFTs (ERC-721) on Fantom.
- O3 now supports Fantom for its cross-chain swaps.
FTM incentive on votemak
The Fantom Foundation is offering a $260,000 reward to TOKE holders via votemak. TOKE holders vote on where to direct Tokemak’s liquidity. The goal of the incentives is to improve FTM liquidity.
Ovre NFT marketplace release
ZooCoin launched Ovre, a beautiful curated NFT marketplace on Fantom.
Network Stats
October and November have seen incredible growth of verified contracts deployed on Fantom. We have seen a rise in developer interest over the last months, plus an additional jump in September after announcing the FTM incentive program.
- Su Zhu and Hasu discuss crypto valuation models.
- Social tokens – the missing piece of the metaverse?
- The Metaverse Primer.
💻 Check out Fantom CEO Michael Kong’s appearance on Cointelegraph’s market report, explaining Fantom to a broader audience.
📰 Two new articles in our ecosystem spotlight are up. Find out more about the team behind Portalheads and the SpiritSwap roadmap.
ℹ️ Want to get started with DeFi or NFTs on Fantom? Check out this comprehensive guide by long-time community member alexandomega.
+++ For those new to the #Fantom network, this is a detailed thread on how to buy & use $FTM, bridge, make use of key #DeFi products, buy & sell #NFTs and yield farm. Every tweet one tutorial, all on fast & inexpensive #Fantom chain. Let’s #BuildOnOpera +++
— αlex | αlex and Ωmega (@alexandomega) November 8, 2021
