Fantom Weekly Recap Week 42 (13/10 – 19/10)

Oct 2022

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 42

KEY TAKEAWAYS

Fantom On-chain data Highlights
Top Price Gainers on Fantom Last 7 Days
Hector Finance Emission Plan is now live
Paint Swap introduced new branding & website
Bitfinex listed three Fantom projects
Fantom adjusted staking rewards to 6% after governance vote passed

Ecosystem Update

Despite the market instability, developers & community always strive to enrich the Fantom Ecosystem constantly. Below are a quick look at Fantom on-chain key metrics, as well as some major updates and news on the Fantom Ecosystem last 7 days

Fantom On-chain Data Highlights

Fantom Weekly Recap Week 42 (13/10 - 19/10) - 1

As the bearish situation of the market continue, some on-chain key metrics of the Fantom network has some significant decline last 7 days compared to the previous week. However, the blockchain has still maintained a high daily unique addresses while maintaining a low transaction fee of $0,00002.

Top Price Gainers on Fantom Last 7 Days

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Although the cryptocurrency market has gone through some gloomy days last week; there were some tokens in the Fantom ecosystem that have significant growth, such as Scarab or Magik or TETU.

Hector Network’s Emission Plan is now live

Fantom Weekly Recap Week 42 (13/10 - 19/10) - 3 — (Source:Hector Network’s Official Twitter)

Hector Network’s Emission plan is a structured approach to creating sustainable supply growth for the HEC token. It is designed to provide regular, calculated rewards for those who stake HEC while mitigating token inflation.

The plan consists of a 2-year roadmap, divided into 13 periods of 8 weeks. In each period, the tokens emitted by the plan are reduced by 25% of the previous period. The longer a user locks their tokens into any Emission Plan Farm, the higher the return. Tokens can be locked for up to 3 years.

For more information & access the Emission Plan, click here

Paint Swap introduced new branding & website

Fantom Weekly Recap Week 42 (13/10 - 19/10) - 4

Introducing the new look PaintSwap branding and home page. The new design helps move PaintSwap forward into the next phase of project development.

Besides the new logo design, there are major changes in Paint Swap’s Website, including:

Featured collections.
Top collections by multiple sorting options.
Homepage banner & basic stats about the marketplace.
New top level menu with expandable links.
New collection posters with names & basic stats.

Check out the Paint Swap’s New Webite here
Bitfinex listed three Fantom projects

Fantom Weekly Recap Week 42 (13/10 - 19/10) - 5

Bitfinex – a tier 1 CEX on the market, has listed three Fantom projects:

HEC token from Hector Network – the all-in-one Web3 protocol
TREEB token from Retreeb – the leading payment service on Fantom
BOO token from Spooky Swap = the No.1 DEX on Fantom

To celebrate this, Bifinex is also holding an event called “Fantom Rush” that bring many exciting offers for HEC, TREEB & BOO.

Deposits & trading for all three tokens are now live, check it out here

Fantom adjusted staking rewards to 6% after governance vote passed

Fantom Weekly Recap Week 42 (13/10 - 19/10) - 6 — (Source: Fantom Foundation)

The vote on staking rewards on Fantom has concluded. On October 5, the Fantom community signaled a majority agreement to set the staking APR to 6% and to extend the duration of staking rewards emissions to 4.7 years.

Prior to the vote, staking rewards yielded a 13% yearly return. This was far above the market rate.At a rate of 13%, the maximum supply of tokens would have been reached in just 2 years. The new staking rewards rate of 6% aligns with peer Layer-1s and ensures sustainability for the next 4.7 years.

For more information, click here