Fantom Weekly Recap Week 49 (1/12 – 7/12)

Dec 2022

Key Takeaways

A Week on Fantom Review
Fantom On-chain Data Highlights.
Fantom New governance proposal: dApp Gas Monetization Program
Lossless is now supporting Fantom
WigoSwap announced a partnership with Chainlink
Fantom Ecosystem Spotlight: Cask Protocol

Ecosystem Update

A bullish signal still maintains within the Fantom ecosystem this week. Many important on-chain metrics of Fantom still have positive signals, despite the FTM price stalled. There were also many major news & partnerships coming from both Fantom Foundation & Fantom’s projects last 7 days.

A Week on Fantom Review

The uptrend has continued on the Fantom Ecosystem this week. FTM Price & TVL have still increased, while Fantom Social Metrics have been surging – this proves the activeness & bullishness of the Fantom community.

Many projects on Fantom had a significant increase last week. The Top TVL of the week is Kyber Swap. The No.1 Price Gainer last 7 days is Based Finance. The Most Influential Project is still Floki Inu.

Fantom On-chain Data Highlights

Despite the harsh market situation, the Fantom Opera Chain still shows positive signals.

There are significant increases in Daily Transactions & Unique Addresses. A new milestone in Unique Addresses has also been achieved, at 23M Total Unique Addresses. Fantom also still maintains a cheap gas fee of $0.00005 and a stable FTM burning rate. Currently, more than 8,3M+ FTM has been burned.

Fantom New Governance Proposal: dApp Gas Monetization Program

Fantom Weekly Recap Week 49 - Image 3 — (Source: Fantom Foundation)

The dApp Gas Monetization Program is a part of Fantom’s continuous push toward implementing sustainable monetization incentives for builders, alongside Gitcoin Grants Protocol & Ecosystem Support Vault

This proposal seeks to reduce Fantom’s current burn rate in order to redirect more network fees directly to dApps building on Fantom.

If passed, this implementation will reduce Fantom’s burn rate from 20% to 5% and redirect this 15% reduction toward gas monetization. This gas monetization will reward high-quality dApps, retain talented creators, and support Fantom’s network infrastructure.

Lossless is now supporting Fantom

Fantom Weekly Recap Week 49 - Image 4 — (Source: Lossless)

Lossless is the unrivaled exploit identification and mitigation tool, designed to foolproof Web3 from hacks.

This partnership will bring the Lossless product – Aegis to the Fantom ecosystem. Aegis provides threat monitoring and smart contract defense capabilities to prevent exploits before they happen.

For more information, click here

WigoSwap announced a partnership with Chainlink

Fantom Weekly Recap Week 49 - Image 5 — (Source: WigoSwap)

WigoSwap is the leading DEX on the Fantom ecosystem, with a unique mechanism called Gamified Burning Mechanism – in which users become the ones to burn WIGO tokens throughout minigames.

This integration brings Chainlink Automation and Chainlink Price Feeds into WigoSwap’s on-chain Prediction mini-game on Fantom mainnet.

Chainlink Verifiable Random Function (VRF) is also integrated to help underpin our upcoming Lottery feature with a transparent source of randomness.

For more information, click here

Fantom Ecosystem Spotlight: Cask Protocol

Fantom Weekly Recap Week 49 - Image 6 — (Source: Fantom Foundation)

Cask is a decentralized non-custodial protocol for powering money flow automation in web3. Money flows include NFT subscriptions, auto investing (DCA), recurring peer-to-peer payments, and automatic decentralized protocol interactions.

Cask Protocol’s automated money flows on Fantom provides users, projects, and protocols with a convenient, accessible, and cost-efficient way to move money on web3 on a recurring basis.

Some use cases: