Fantom
Crypto Overview
Intended and Actual Utility
Fantom is a Layer-1 blockchain platform designed to provide smart contract functionality and decentralized application (dApp) development with high throughput, low transaction costs, and fast finality. The platform utilizes a Directed Acyclic Graph (DAG) structure and a novel consensus mechanism called Lachesis.
The FTM token serves multiple purposes within the ecosystem: network security through staking, governance participation, and gas fees for transactions. The platform currently hosts numerous DeFi protocols, NFT marketplaces, and decentralized applications.
Real-World Adoption
Fantom has demonstrated significant adoption metrics: Over 3 million unique wallet addresses, processing around 1 million transactions daily as of 2024. The network hosts over 200 active dApps and maintains consistent developer activity according to GitHub statistics.
Token Distribution and Founder Analysis
Initial token distribution allocated 40% to token sale participants, 15% to advisors and team (with vesting periods), 30% to ecosystem development, and 15% to staking rewards. The Fantom Foundation maintains transparency through regular updates and public GitHub repositories. The founder, Dr. Andre Cronje, has a respected reputation in the blockchain space and continues active development.
Revenue Model and Technology
Fantom's revenue model is primarily based on transaction fees and network usage, avoiding interest-based mechanisms in its core protocol. The staking mechanism follows delegated Proof of Stake principles, where validators secure the network and earn rewards from new token emissions and transaction fees, which is considered halal as it represents payment for a service rather than interest.
Crypto Impact
To assign a comfort level investing in Fantom from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Fantom.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.