Key Takeaways

  • A Week on Fantom Review
  • Fantom On-chain Data Highlights.
  • Equalizer Exchange is deployed to Fantom
  • Morphswap has integrated into Fantom
  • FinalCypher is coming to Fantom
  • Andre Cronje released an article on “the ZK Future on Fantom”
QuickNode - 970x90

Ecosystem Update

The cryptocurrency market has experienced some challenging days. The market is currently in a relatively unfavorable state due to the significant consequences and aftershocks of the FTX collapse.

The Fantom ecosystem is also having difficulties, but we are still expanding and getting better, just like we have done since the start of the bear market in 2022.

A Week on Fantom Review

Fantom Weekly Recap Week 47 - Week Overview

Not a bullish week for the Fantom ecosystem. All key metrics have declined, however, if compared to the last week, the plummets were much lower, as the aftermath of FTX has been cooling down.  

The Leader in terms of TVL gainers was WOO Network while the leading Price Gainer was Qi Dao. The Most Influential Project of the week is WigoSwap. 

Fantom On-chain Data Highlights

Fantom Weekly Recap Week 47 - Key Metrics

The bearish situation from the aftermath of FTX incident has led to a decrease in many metrics, such as Price, Market Cap, TVL & Daily Transactions.

However, Fantom has still maintained the low gas fees while our Total Unique Addresses still keep rising, proving the activeness & development of Fantom Opera Chain

Equalizer Exchange is deployed to Fantom

Fantom Weekly Recap Week 47 - Equalizer Exchange

(Source: Equalizer Exchange)

Equalizer Exchange is a DEX that uses a vote escrowed model to drive Liquidity to the highest volume pairs.

Equalizer was derived from the initial concept of Andre Cronje. The mechanism that was used to create a perpetual decentralized exchange was unique and ingenious. 

The launch of this platform is to take the concept and apply it to a more natural style DEX. Equalizer will become the trading mechanism for the Fantom network, utilizing the Solidly perpetual model with some tweaks to fee structures and emissions.

Morphswap has integrated into Fantom

Fantom Weekly Recap Week 47 - Morphswap New Chains

(Source: Morphswap)

Morphswap empowers interoperable DeFi with fast-finality cross-chain swaps

Fully decentralized, on-chain computation and execution o Fast-finality support for any asset you can dream of All code updates are voted in by token holders

In addition, there will be token rewards for early liquidity providers of Morphswap

FinalCypher is coming to Fantom

Fantom Weekly Recap Week 47 - Finalcypher Coming Soon

(Source: Station Zero X)

Station Zero X is renowned for Encounter, the first strategy board game on the Fantom network, and now FinalCypher is the next in line.

FinalCypher is a team-based game, each player control one agent, and every agent has a different basic ability and auxiliary one. FinalCypher has multiple modes of playing; Including the ranked and unrated modes.

One of the goals of Station Zero X is to solve the issues concerning traditional e-sports and for that, Station Zero X is considering the idea of making web3 games E-Sport tournaments, & FinalCypher will be the first shot.

Andre Cronje released an article on “the ZK Future on Fantom”

Fantom Weekly Recap Week 47 - Technical Update

(Source: Andre Cronje)

Zero Knowledge (ZK) Proof is a verification method, in which the prover is able to prove to the verifier that they have the knowledge of the information without revealing the information itself. In a blockchain, ZK will help:

  • Increase Blockchain Scalability: Allows verification / confirm transactions to process quickly.
  • Increase Blockchain Security: Confirm the data without disclosing important information

A blockchain node would require infinite storage and infinite computation. Fantom already has infinite storage on their roadmap, while infinite computation is where the ZK technology goes in – specifically localized in FVM

ZK will bring major benefits to Fantom, such as increasing scalability through mass transfer processing; increasing privacy & security; increasing speed by 500x while continuing to reduce transaction fees

Additional Highlight Events

  • Firebird Finance announced integration with Based Finance’s DEX Liquidity
  • Solidly announced partnership with DEUS Finance DAO & Tarot Finance
  • Fantom Foundation released their own NFT Collection on Paintswap: Future Forward

Follow us to stay updated on everything in the Fantom ecosystem! 

Website | Twitter | Telegram

QuickNode 300x250