On December 26, Andre Cronje announced his return as a board member of the Fantom Foundation. At the same time, the team’s main plan for 2023 is to develop Fantom to become the most secure and high throughput blockchain that offers a single secure settlement layer for all decentralized activity, creating a sustainable environment for Dapps developers, thereby further expanding the Fantom ecosystem.
The DeFi architect also revealed that he accepted a position as board member for Fantom Foundation Ltd and Fantom Operations Ltd. https://t.co/nHl4IDSHLi
— Cointelegraph (@Cointelegraph) December 26, 2022
Key points on Cronje’s 2023 Fantom roadmap:
– Gas monetization which would allow revenue to be split among decentralized applications, or DApps based on previously used gas as a development incentive. Tokens other than FTM
would also be eligible for use as gas fees on the protocol. Fantom had also previously committed to cut its token burn rate by 75% to reward Dapps which had made over 1 million transactions and stayed active for at least 3 months on the Fantom network.
– Work on new middleware for Fantom Virtual Machine and a new storage mechanism.
– Training for new builders and non-blockchain native developers. This will help with the goal of base layer scaling and make it easier for builders to build easier Dapps and onboard users
– Other important announcements at the end of Q1 and beginning of Q2/2023.
Fantom is the 8th largest TVL ecosystem in the market. There used to be more than 12B$ TVL on the network, but after Andre Cronje’s sudden exit in March 2022, while still developing Solidly (the project that brought the majority of TVL to Fantom at the time), a fleeing race happened, causing TVL on Fantom to fall sharply to about 445M$ at the moment.
Since the announcement of Andre’s return and plan for 2023, TVL on Fantom, however, remains unchanged.
One of Fantom Foundation’s actions in response to this is to pack their bags with tokens within the Fantom ecosystem, in detail:
– Over 100.000 BOO (~128.000$)
– 2.200.000 BEETS (~85.300$)
– 3.300.000 GEIST (~33.000$)
– 13.500 MMY (~32.000$)
– 4.200 EQUAL (~6.800$)
Spookyswap (BOO), Beethoven X (Beet) and Geist finance (GEST) are the 3 biggest projects (in terms of TVL) on Fantom at the moment.
Meanwhile, Mummy Finance (MMY) and Equalizer (EQUAL) are the new projects with the fastest growing TVL recently.
Mummy Finance is a Derivatives DEX fork from GMX with a trading volume reaching more than 11 million dollars almost 1 month after its launch. It also achieved more than 3 million dollars in value locked in the protocol.
Equalizer is an AMM Dex with a similar model compared to Andre’s phenomenal Solidly in early 2022. The new project launched in early December and currently has nearly 10 million dollars in TVL.
The number of purchased tokens of Fantom Foundation was staked back into the projects. This can be a supporting movement from Fantom Foundation after announcing its development goals in 2023. The stated projects will be a crucial part of the Fantom ecosystem in the future.
Track the latest updates on the Fantom Foundation wallet at DePocket Dashboard: https://s.depocket.com/Fantomwallet