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Cryptos sleeping giant

What’s driving the FTM run?

Some things are best left unsaid, but sometimes we can't just keep quiet. The Fantom giant is about to wake up, and boy, are we in for a tectonic crypto shift.

Crypto Banter by Crypto Banter
January 12, 2022
in Breaking News
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Some things are best left unsaid, but sometimes we can’t just keep quiet. The Fantom giant is about to wake up, and boy, are we in for a tectonic crypto shift.

Ran’s Twitter mojo is on track. He called LUNA December in November, and the moon wolves have been howling since. He called FTM January in December, and we’re about to witness the Fantom spirit take over the market.

FTM January.

— Ran Neuner (@cryptomanran) December 29, 2021
  • Fantom has been rallying even in a downward market.
  • DeFi protocols on Fantom continue to challenge the TVL on established Layer-1s.
  • A new project by Andre Cronje is spiking interest in DeFi on Fantom.

The mythical Fantom protocol got a grip on the entire crypto narrative, and it’s not letting go anytime soon. Who in their right mind would not bet on an awakening giant that’s GREEN like HULK when markets are exhausted? NOT THIS FANTOM!

It’s the season to be Fantom

Fantom is not as scary as it seems. In fact, FTM’s price is all positive as the sleeping giant  starts to awaken! This year is FTM’s, with its price action still in the green – and not that many can brag about calling it. Even more so, FTM is standing tall with a 21.9% increase on the AltRank, which shows the sentiment is strong with this one!

Top 5 Tokens by Alt Rank: January 12th

Alt Rank is a unique measurement by https://t.co/SjCk33fhRi, that combines actual altcoin price performance relative to Bitcoin and social activity indicators.$FTM $VRA $ROSE $NEAR $ONE pic.twitter.com/Qcf8ONuwbD

— Ben GCrypto (@GCryptoBen) January 12, 2022

Let’s talk about Fantom’s total value locked (TVL). JUST LOOK AT THAT TVL! DeFillama data shows Fantom is on a hot streak both daily and weekly, outperforming the TVL increase across the top 10 chains. Its TVL is up by 21% on the seven-day time frame and 4.93% on the one-day. How’s that for a WOW factor?

https://defillama.com/chains

During his Crypto Banter show, Sheldon The Sniper charted the DeFi Index showing how DeFi is on the way to a swift recovery. Money is moving back into DeFi, and Fantom could be one of the catalyzing agents for why this is happening – FTM January *cough*.

Let’s acknowledge it! The FTM giant is here to stay. But why is FTM the chosen one for January? One giveaway is the increased Fantom activity on Multichain!

We are officially eleven days into 2022💫
Let's take a look back👀at the most active blockchain with the highest trade volume on #Multichain in the past ten days

🥇#Fantom
🥈#Ethereum
🥉#BSC #Fantom #Ethereum #BSC #AVAX #Polygon #Arbitrum #HarmonyONE #MoonRiver #Aurora #oec pic.twitter.com/fzeOKmssfF

— Multichain (Previously Anyswap) (@MultichainOrg) January 11, 2022

Fantom can’t be missed

Fantom plays into the Layer-1 (L1) narrative. It bulldozed its way into the top ranks because it has strong fundamentals – it’s EVM compatible and cheap. It’s got everything other L1s have and even something extra.

Fantom has Avalanche’s speed, gas costs, and EVM-compatibility, Solana’s parallel tx processing, Terra’s stablecoin-focused DeFi engine ($SPELL) + a hardcore community and multichain focus. Going to be hard to beat.

4/x

— John Wang (on Farcaster) (@j0hnwang) January 5, 2022

That extra Fantom charm is its take on DeFi protocols, not just forks. Tomb Finance is a clear-cut example – It’s changing DeFi, adding insane returns of up to 31,000% APY without any risks of impermanent loss looming around. So get a grip on how to stake and make the TOMB here.

Oh you understand the @tombfinance Game and system $TOMB $TSHARE $TBOND 🪦🐸😍 https://t.co/oVMGejyyYc

— Harry Yeh 🪦👻🔺 (@harryyeh) January 8, 2022

Then there’s the ongoing social media hype about what’s expected of Fantom shortly. Some speculate about a Coinbase listing, plus the expected release of Felix Exchange, and a grand announcement by Harry Yeh! Of course, we can’t imagine him going more degen than he already is, but let’s wait for 19 January.

FTM January is just beginning..

1. ve(3,3) @AndreCronjeTech @danielesesta
2. FELIX @Felix_Exchange
3. Special Announcement on Jan 19 @harryyeh

Later in 2022:
4. Coinbase
5. FVM

I don't think any of us are ready.. 🚀

— Miles Deutscher (@milesdeutscher) January 10, 2022

The Three Musketeers go degen… AGAIN!

But the keys to the castle are the three degen musketeers who feed the Fantom giant. As we covered in our Layer 1 2.0 article, Daniele Sesta, Andre Cronje, and Harry Yeh continue building up the protocol with new use cases. 

https://twitter.com/THEVinhVuong/status/1480244884976148484

Teamwork makes the dream work, what? These guys fit together like Jack and his beanstalk.

ve(3,3) could change DeFi forever. @andrecronje, @danielesesta, and @FantomFDN have banded together to create a new, secretive, and highly anticipated project.

Here's a thread of everything we know (and some speculation) on the protocol:

Also, how to play the trade: 🧵👇

— Jack Niewold 🫡 (@JackNiewold) January 11, 2022

The trio are true geniuses. They’re degens who have an eye on the pulse, each carrying their own stick. Andre Cronje is a wizard who along with Daniel Sesta helped put the pin on AVAX and has other notable achievements under his belt like TIME, SPELL or MIM. Now, with Harry Yeh backing them, the beanstalk could reach the moon.

@danielesesta and @AndreCronjeTech helped drive Avax’s massive boom, and now they’re shifting their focus to Fantom. FTM is in a similar position to NEAR as one of the emerging L1s with huge untapped potential. https://t.co/KjepShne0H

3/x

— John Wang (on Farcaster) (@j0hnwang) January 5, 2022

The new protocol on the block

Pull back a bit, and let’s focus on why the Fantom TVL is increasing. It’s because the trio has been brewing something grand under the name of allegedly called SOLID – at least that’s what the blurry sign might say. 

THE TOKEN: Currently referred to as ve(3,3), it's speculated from the below (censored) image that it will be called 'SOLID'.

It will use the same:

• 've' (vote escrow) mechanics as protocols like Convex and Curve
• staking/dilution mechanics (3,3) as OlympusDAO. pic.twitter.com/qkX6L7Rsb2

— Jack Niewold 🫡 (@JackNiewold) January 11, 2022

The token, ve(3,3), as highlighted by Jack Niewold, uses the same voting mechanism protocol as Convex and Curve and staking mechanism as Olympus DAO. Nothing major, just the BEST DeFi protocols on the market. And the gift keeps on giving!

https://twitter.com/AndreCronjeTech/status/1480872998504747012

The good/bad news is that degens can’t buy it straight up. Fantom will have another protocol that’s abiding by the same ethos of no-ownership and no-founder, while tokens will be distributed to the Top 20 protocols on Fantom by TVL. At last, the AHA moment we’ve been building up to.

1. Buy $FTM: The whole Fantom ecosystem will draw attention & TVL if this succeeds.

2. Ape into a top 20 $FTM protocol: the only way to get (indirect) ownership of the token for now is to own any/several/all of the top 20 tokens on $FTM by TVL pic.twitter.com/8TpyS6Q9ZT

— Jack Niewold 🫡 (@JackNiewold) January 11, 2022

The only way to obtain indirect ownership or interact with the new tokens is to enter the Fantom ecosystem and jump into DeFi. Route 2 Fi and @surycapital have a handful of strategies that involve Reaper Finance for an API of 900%, for starters. Or take Route 2 Fi’s path of credit for a high stablecoin APY. 

https://twitter.com/surycapital/status/1480923190696235012

A strong community has  always, and we mean always translated into a thriving ecosystem. If the Fantom community could get a prize, it would be for the most DEGEN and active community for protocol utility! They’ve been there from Day 1 and are garnering the support from many other communities through the shared success of defi and integration with other protocols.

That's more than $50 million distributed in 4 months, most of which went back to the Fantom community.

Amazing.

Remember: Fantom incentive program is different.

We don't decide who gets the rewards or not. If a project meets the requirements, they will get the rewards https://t.co/rzPAUBOjbN

— Simone Pomposi (@theotherpomp) January 11, 2022

Banter Wisdom

If that was a handful of insightful data, that’s just to keep you degens level-headed in the upcoming weeks/months when Fantom goes full-on!

$FTM is probably the most degen ecosystem for DeFi right now.

It is also the most undervalued. No other chain has a lower mcap/TVL.

mcap $5.9b/TVL $5.45b = 1.09

There are so many opportunities to earn yield here.

Let's look at how you can make it in 2022 with $FTM 👻

/THREAD

— Route 2 FI (@Route2FI) January 11, 2022

Fantom has been a sleeping giant for a long time, and it’s ready to wake up. It’s a Layer-1 protocol: it’s EVM compatible – and we saw what happened with those in 2021. It’s also a cheap and scalable blockchain that is severely undervalued, but not for long.

In 2021, FTM had only 5,000 active addresses. It had over 1.5 million active addresses on 1 January 2022. FTM was originally priced around US$0.02, and now it’s past US$2.50. We’ll let you do the math, but the giant is about to wake up!

Tags: BTCFTM
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