Fantom Weekly Recap Week 33 (11/8 – 17/8)

Aug 2022

Fantom Weekly Recap Week 33 Featured Image

The Fantom ecosystem is always growing and moving forward. To help you not miss any news & movements of the ecosystem in the last 7 days, here is your Fantom Weekly Recap Week 33.

TL;DR

Spirit Swap released Spirit Swap v2
Liquid Driver released Liquid Driver v3 & Shadow Farm
Beethoven X released Beethoven X v2
Fantom announced a partnership with Cypher Capital
Fantom Ecosystem Spotlight: WigoSwap

Ecosystem Update

Despite the market turmoil, developers & community always strive to enrich the Fantom Ecosystem constantly. There are some major updates and news this week on the Fantom Ecosystem, which are listed below.

Fantom Highlight On-chain Data

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 1

The bearish sentiment of the cryptocurrency market last week caused some on-chain data of Fantom to decline. However, The Fantom Opera network maintains a relatively high active user & daily transaction, which proves our chain is still very active & the faith of Fantomians is still on despite any market sentiments!

Top Price Gainers on Fantom Last 7 Days

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The fact that last week was a slow down for the whole cryptocurrency market as the rally of Ethereum has stopped, Bitcoin once against take over the dominance then go down making the price of many tokens decreased.

However, there were still some “outlaws” in the Fantom ecosystem with decent growth, such as Magic Craft, Starter & Iron Bank.

Fantom Price Analysis

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 3

(source: Trading View)

The last week’s break-out failed from our expectation, as FTM 2 times retested the resistance at $0.41 – $0.42 but was unsuccessful. As the result, the FTM price dropped along with the trend of the cryptocurrency market, cut below the EMA 20 & broke down the support at $0.35. Now our target price for the next week will be around the next support range – from $0.30 to $0.31

Spirit Swap released Spirit Swap v2

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Spirit Swap, the leading AMM/DEX on Fantom, has released the newest major update – Spirit Swap v2.

In this v2 update, Spirit Swap has brought a completely new AMM mechanism – the hybrid model with vAMM (inspired by Solidly) & sAMM (Stable AMM) & also the new fee distribution structure for each AMM.

Spirit Swap has also introduced the brand new Spirt Bridge – the bridge aggregator which will pave the way for a myriad of other chains to be added to the bridge. As a part of this upgrade, people will now be able to simultaneously swap while they bridge.

We have covered a quick overview of how Spirit Swap v2 works down below:

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Finally, the UI of Spirit Swap has also been upgraded in this Spirit Swap v2 with a more minimalist and direct design.

For more in-depth information, read here.

Liquid Driver released Liquid Driver v3 & Shadow Farm

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Another DeFi Protocol that has a major update is Liquid Driver – the leading Yield Aggregator on Fantom, with the new Liquid Driver v3 & Shadow Farm.

The v3 update introduces Master Gauge – a brand new product inspired by Curve Finance that allows xLQDR holders to vote on gauges to set $LQDR emissions.

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 7 — (source: Liquid Driver)

Shadow Farms are a Convex style layer to boost your yields, with linSPIRIT Single Staking on top to supercharge your yields even further. With Shadow Farm, users now can earn compound interest from many top DEXes on Fantom with just a click on Liquid Driver!

Spirit Swap & Liquid Drive have a tight connection, as Liquid Driver is the largest holder of inSPIRIT in the Spirit War. As both Spirit Swap & Liquid Driver get to the new v2 & v3, we can be sure these two projects will go wild next season.

For more in-depth information, read here.

Beethoven X released Beethoven X v2

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 8 — (source: Beethoven X)

The upgrading season on Fantom has not stopped yet. Beethoven X – the leading AMM/DEX on Fantom & Optimism, has also released Beethoven X v2 (beta). However, unlike Spirit Swap & Liquid Driver, this v2 update from Beethoven X is not including a smart contract upgrade. This is the complete overhaul of Beethoven X UI & the infrastructure to support it.

To try out the new layout of Beethoven X v2, click here.

Fantom announced a partnership with Cypher Capital

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 9 — (Source: Cypher Capital)

Fantom welcomes the newest addition to the VC round table, Cypher Capital.

Cypher Capital is the new venture capital & consultant firm based in Dubai, UAE that mainly operates & investing in the blockchain & cryptocurrency industry.

This partnership with Fantom will allow Cypher Capital to support Fantom projects across Web3, DeFi, and Gaming & provide Early-stage backing & Solutions Expertise.

Fantom Ecosystem Spotlight: WigoSwap

Fantom Weekly Recap Week 33 (11/8 - 17/8) - 10 — (source: Fantom Foundation)

WigoSwap is an all-in-one suite where you can enjoy the benefits of DeFi in an accessible and usable way while having fun and earning by participating in games and contests.

WigoSwap’s comprehensive Web3 platform provides DeFi services including DEX, Yield Farming, and Staking, with the lowest transaction fees (only 0.19%). Alongside DeFi, exclusive products like WigoGalaxy and PREDICT inject fun and bring even more earning opportunities.

The unique Gamified Burning Mechanism – allow users to burn tokens from the circulating supply by playing games, which extends the emissions distribution period without exceeding the 2B token hard cap.