Fantom Launched The First DeFi Platform Fantom.Finance

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • This will be the first full-feature DeFi (Decentralized Finance) platform which is launched outside of the cryptocurrency Ethereum.
  • Finance is the first ever to be commenced on an aBFT consensus.
  • Per report, it is expected that Fantom Finance will be launched in the second quarter of this year.

Today, Fantom Foundation announced its new DeFi platform Fantom.Finance. This will be the first full-feature DeFi (Decentralized Finance) platform which is launched outside of the cryptocurrency Ethereum.

Fantom.Finance is the first ever to be commenced on an aBFT consensus.

Features of aBFT 

The benefits of aBFT consensus include high security, right off finality, and a high transaction throughput on a smart-agreement platform.

Fantom’s aBFT consensus Lachesis will help the users on buying and selling, and on-chain trading in a fast and secure manner. And also, there will be no delays or congestion in the users’ financial operation.

Know about Fantom Finance

Fantom Finance is a DeFi platform that is to be launched on aBFT consensus.  It has two primary components fLend and fTrade.

The fLend allows the users to lend and borrow tokens from the collective liquidity pool for pellucid, supportable APR. As an FTM stakeholder, the users will be able to collateralize there locked FTM rewards, mint fUSD and lend the fUSD to the liquidity pool to gain extra returns. Also, one can use fUSD to borrow synthetics.

On the other hand, fTrade supports a dazzling 176 marketable synthetic assets. These are with high liquidity, zero slippage, and fast transactions.

Secured on-chain by Opera network’s Proof-of-Stake consensus, these synthetics are traded directly from users’ wallets with no caretaker. It ensures maximum protection of the users’ assets in all aspects.

Per report, it is expected that Fantom Finance will be launched in the second quarter of this year. Currently, the team is working on its final minutiae.

What is Fantom?

Fatom is a cryptocurrency with its own blockchain. It is the world’s first smart platform which is based on DAG. It solves the issues on scalability and authorization time of existing blockchain technology.  Fantom exists on 17 exchanges with 26 active markets.

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