By You have jumped into the crypto-verse! Welcome to the second edition of “Foundations of Fantom,” a report published for those who want to dive deep into the metrics of Fantom tokens. This report is independent of the Fantom Foundation and does not necessarily represent their views. The main objectives of this report are to help you understand Fantom, discuss important events and partnerships that have recently transpired, graph key metrics, identify any trends or correlations, and package the data in an easily consumable way. This report is also useful to those who do not keep up with daily/weekly events and enjoy reading a single report which will catch you up on all things Fantom. It is important to note that the reports in and of themselves are not meant to encourage you to buy or sell any specific cryptocurrency. Instead, we hope that you can use this analysis, in addition to doing your own research, to build a portfolio that matches your risk/reward goals.
Partnerships
There are several developments since the last report so let us jump right in! One of the ways that the Fantom protocol is seeking to change the world is by becoming the nervous system for smart cities. By incorporating novel scalability techniques and high-performance throughput, Fantom wants to secure smart cities with its DAG-based distributed ledger. Of course, this is a tall order and would obviously come with competition, so what is the Fantom Foundation doing to actually obtain this goal?
Recently, the Fantom Foundation became the first Directed Acrylic Graph (DAG) member of the Government Blockchain Association (GPA), an organization which consults the government on blockchain technology. By connecting government employees with experts in blockchain technology, the GPA is fostering informative discussions that will usher in this technology to the world. By strategically placing consultants of the Fantom Foundation in the GBA consultant directory, we can ensure that our vision of the future in this space is communicated to those in government.
The Fantom Foundation has also recently joined the Australian Digital Commerce Association (ADCA), which advocates blockchain technology to government as well as regulatory stakeholders. By fostering the responsible adoption of blockchain technology, the ADCA will be a strategic partner for the Fantom Foundation as it positions itself for integrating into the development of smart cities.
The Fantom Foundation also recently partnered with the private office of Sheikh Saeed bin Ahmed Al Maktoum and SEED Group in Dubai, which will allow the Fantom Foundation to directly engage with the public and private sectors of the city. By maintaining a strong presence in Dubai, Fantom is going to take steps to fulfil the Smart Dubai initiative strategy and integrating itself into the smart city. Incorporating the Fantom protocol into the city will ensure individuals and corporations will have access to state-of-the-art blockchain solutions. This will also be a good test case for integrating Fantom into other cities that are wanting to incorporate blockchain solutions.
One thing is clear is that there is no shortage of partnerships in relation to the Fantom Foundation. Yet another recent partnership is that with the World Blockchain Innovation Association (WBIA), a global entity coordinating public policy regarding distributed ledger technologies. As with other recent partnerships, this partnership will also connect Fantom with blockchain discussions at the government level, which will hopefully lead to Fantom being incorporated into next-generation cities.
One of the most exciting events to transpire recently is the partnership between Fantom Foundation and Lition. Lition will be using the scalability of Fantom’s DAG technology to implement features such as deep learning algorithms. The development of machine learning algorithms and neural networks are revolutionizing the way humans solve problems and in fact, allow for more robust solutions never previously imagined.
One off-topic but simple example of the implementation of neural networks and its potential impact on society is to look at how it has altered the way board games such as chess and go are played. Recently, a neural network trained itself on playing chess for 4 hours and easily beat the leading, open-source chess engine, Stockfish, which has been developed for decades by people all over the world. We are only beginning to tap the true potential of artificial intelligence, and Fantom’s DAG mechanism is enabling others to explore this area.
Lition will also be incorporating its private sidechain technology into Fantom’s mainnet to allow Fantom users access to additional privacy features they do not currently have. This added feature to the Fantom mainnet will bring it in full compliance with various data protection laws. The collaboration between Fantom and Lition will also extend to technical and marketing collaboration as our world unlocks the potential of blockchain technology.
Increasing Liquidity
One fundamental issue with investing in any coin within the cryptocurrency asset class is maintaining liquidity in a sometimes naturally illiquid market. However, in order for the Fantom Protocol to reach its true vision, it needs to develop enough liquidity so that Fantom tokens are seamlessly transferrable between peers. While Fantom has already been listed on several exchanges, it is necessary to continue to seek further opportunities to include Fantom tokens on more platforms.
For this reason, the Fantom Foundation has decided to launch Fantom tokens on BEPSwap, a decentralized market platform for the THORChain protocol which allows peers to swap BEP2 tokens at the going market rate.
This increased liquidity will help ensure the reliability of the Fantom protocol by further enabling secure smart contract execution. For those who plan to hold Fantom tokens long-term, staking Fantom tokens is a nice way to earn a small return from fees for your contributions to improving market liquidity.
Fantom has also recently listed on Probit, a new Korean exchange that opens Fantom trading to a new pool of investors. The processing capacity of Probit of 1.5 million order matches per second and security they provide by keeping 95% of coins in cold storage provides yet another medium for exchanging Fantom tokens, the native currency of Fantom protocol.
Additionally, Fantom has listed on Beaxy exchange, the All-In-One Cryptocurrency Exchange with 9 different order types. The speed of the order matching engine has made Beaxy more prominent and will further the cause of improving the liquidity of the Fantom token
In the last few weeks, Fantom was also listed on Airswap, a decentralized exchange for ERC-20 tokens. As we discussed before, the lack of liquidity on exchanges can cause slippage and thus negatively impact the Fantom protocol. To mitigate this, one of Airswap’s partners, Keyrock, is being used to democratize liquidity. Keyrock is implementing this feature using self-adaptive algorithmic technologies aimed at reducing slippage by increasing market liquidity.
Stable Coin Platform
Having partnerships with companies around the world, made possible by the Fantom Innovation Lab, is raising awareness of the Fantom protocol and helping educate people on blockchain technology. Additionally, by listing on various exchanges, more cryptocurrency investors are seeing Fantom for the first time and investigating what it has to offer. However, in order to expand the Fantom brand and reach new customers that are outside of traditional channels, Fantom has recently introduced Fantom Statheros, a stable coin issuance platform. This technology, built onto the Cosmos stack, gives companies the ability to issue, transfer, and trade stable coins.
To be clear, Fantom Slatheros is not a stable coin, but rather a platform that will allow others to mint 1:1 backed fiat currencies into KYC/AML approved wallets. Additionally, Fantom has also implemented the Fantom Pay ecosystem, which provides merchants with portals for cryptocurrency payments. These new developments of the Fantom brand highlight how committed The Fantom Foundation is to develop a protocol and brand which will revolutionize the cryptocurrency industry. Adding new features like this will open up The Fantom Foundation to people that would have never otherwise been reached.
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By BENJAMIN J. COWEN, PHD
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