Fantom is a Layer-1 blockchain (L1) launched at the end of the ICO era of 2016-2018. The project’s promise of building a faster, cheaper version of Ethereum was met with overwhelming enthusiasm, and the team raised almost $40 million.
However, today, towards the end of 2021, Fantom has lost much of its popular support. Although the team delivered on its promise in terms of technology, its ecosystem is weak. And as additional L1s launch with similar possibilities of being a better version of Ethereum, Fantom’s market opportunity is fading.
Fantom needs to evolve and create a vibrant ecosystem, be it DeFi or NFTs. High staking interest rates are not enough to keep FTM competitive; it needs to offer something more. Otherwise, whatever gains made this year will flow over to the next shiny, new L1.
Key Takeaways:
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Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.
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