Fantom

Overview

Fantom is a layer-1 blockchain platform launched in 2019, designed to provide smart contract functionality with high throughput and low transaction costs. The platform uses a unique consensus mechanism called Lachesis, based on Directed Acyclic Graph (DAG) technology.

Purpose and Utility

Fantom's primary purpose is to serve as a scalable blockchain platform for decentralized applications (dApps) and digital assets. The FTM token is used for network security through staking, transaction fees, and governance. The platform specifically targets DeFi applications, NFTs, and enterprise solutions.

Business Model and Operations

The platform generates revenue through transaction fees, which are paid in FTM tokens. These fees are used to reward network validators who secure the network through staking. The network operates on a Proof-of-Stake consensus mechanism.

Real-World Adoption

Fantom has achieved significant adoption in the DeFi space, with numerous active projects built on its blockchain. As of 2024, the network processes hundreds of thousands of daily transactions and hosts various decentralized applications. Notable partnerships include those with multiple government entities, particularly in the Middle East and South Asia.

Development Activity

The project maintains active development with regular updates to its core protocol. The GitHub repository shows consistent commits and improvements to the platform's infrastructure. The Fantom Foundation continues to fund development grants and support ecosystem growth.

Token Distribution

The initial token distribution allocated 40% to the sale, 25% to the team and advisors, and 35% to ecosystem development and rewards. Team tokens were subject to a vesting schedule to ensure long-term alignment with the project's success.