The goal of the Fantom Foundation is to create infrastructure for a future that is democratic. One that is trusted that is obtained from solving challenges faced by older blockchain projects such as Ethereum. It also plans on creating solutions to problems like the agility, soundness, and scalability of decentralized cryptocurrencies.
Is Fantom A Good Investment?
FTM is the chain token for Fantom. It has so many functionalities. Some of which are for staking, governance, transactions, and network fees. The founder of FTM is Dr. Ahn Byung Ik. He is a preeminent network scientist with a history in food technology. After he quit the project, the CIO, Michael Kong, took over. He has several experiences working on several blockchain projects. These experiences made him the best fit for the CEO. The big name to watch out for in Fantom is its DeFi Architect, Andre Cronje. In addition, he is a prolific DeFi developer known for his establishment, Yearn Finance. The above information certifies that it is a trusted platform. Thus, it is recommendable.
Top 10 Coins On Fantom
There are several coins on Fantom. The designs of these coins are per various optimization functions. Currently, 2,545,006,273 Fantom coins are circulating out of a max supply of 3,175,000,000. Choosing the type of coin to invest in sometimes can be questionable. Hence, we are bringing the top 10 coins on Fantom that are worth your investment. In this article, there is relevant information about the top 10 coins on Fantom. Read on to gain relevant knowledge on each of the leading coins.
SpookySwap (BOO)
SpookySwap, the first on the top 10 list, is automated market-making (AMM) decentralized exchange (DEX) used on the Fantom Opera network. Currently, this decentralized cryptocurrency is rated #460 by market cap. It has a maximum supply of 14M BOO (BOO is its token of operation) and a moving circulation of 4.4M BOO. In the current trade market, it is marketed for $19.32 on 1 market over 1 exchange. It has a market rank of #3753.
Curve (CRV)
The Curve is a decentralized exchange developed for low slippage and low fee exchange during transactions between assets fixed at the same value. The Curve is a programmed market creator that performs functions as a Balancer. It is dependent on liquidity pools on Ethereum. People who fund this pool are receiving high rewards because it depends on volume and numbers. One of its limitations is that it only transacts stable coins. Examples of such coins are DAI, TUSD, sUSD, GUSD, bUSD, USDC, etc. Regardless of the limitation, this stability is of high value to crypto users who want to trade. The Curve runs the governance token of CRV.
The CRV in circulation from creation was 1.3B. Then, due to the contribution of the liquidity provider after the distribution of the coin token, it experienced growth to 3.03B. The total value locked is $13.96b.
CRV has a 24hours trading Volume of $747,671,420.04 9.73%. It has a Market Cap of 0.5409 and a Market Dominance of 0.06 %.
Beefy Finance (BIFI)
Beefy Finance is a decentralized, Multi-Chain Yield Optimizer platform that enables its users to gain compound yield when they practice crypto holdings. It uses a set of investment plans ensured and fortified by Smart contracts. User gains from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem are maximized by Beefy Finance.
Beefy Finance has a Market Cap $88,226,845, a 24 hour trading volume of $1,374,712, fully diluted valuation of $90,489,071, a fully diluted valuation(TVL) Ratio 0.11, and a market cap (TVL) Ratio of 0.1.
Scream (SCREAM)
Scream is a very scalable decentralized lending contract hosted by Fantom. Currently, the price of Scream (SCREAM) is 97.66. SCREAM can not be exchanged in any recognized exchange markets.
SpiritSwap (SPIRIT)
SpiritSwap is a decentralized exchange. It uses the regular product automated market maker (AMM) model used by every other coin on the Fantom network. Liquidity providers can deposit two-sided tokens which would be used to generate a market set on the exchange. According to the reputation of Fantom network, the transaction fee is low. This is verifiable- it can be seen of the evidence of stake and its high transaction throughputs. The trade token is gotten by swapping, providing liquidity, farming, and staking.
It has a total value locked of $112.34m, Fantom value of $112.34, staking value of $14,491,561. It has a market cap of $18,303,798, a fully Diluted market cap of $163,535,879, a zero 24 hours Volume. The verified circulating Supply of SPIRIT is 111,762,638.00. It has a maximum Supply and a Total supply of 1,000,000,000 and 193,320,736 respectively.
Tarot (TAROT)
LP tokens can be deposited by Tarot Vaults and also, protocol users can get Vault Tokens. Farming is done on the stored LP tokens to receive an automatic earning. It uses the system of AI-powered staking & yield Farming, decentralized exchange, personal finance tools for asset management, saving, micro-investment, fee-free transactions, simple, safe, and quick payment methods.
It has a total value locked of $78,450,579. The current circulating supply is 4,832,941.426 TAROT. In addition, it has a market cap of $9,108,038, a 24 hour Trading volume of $4,89, fully Diluted Valuation of $140,685,640, a total Value Locked (TVL) of $79,313,971, fully Diluted Valuation / TVL Ratio of 1.77. Furthermore, it has a market Cap (TVL) Ratio of 0.11. It has a total supply and max supply of 100,000,000.
Reaper.Farm (-)
Reaper. Farm(-) is a Rapid auto-compounder on the Fantom network. It works automatically. You do not have to do anything. It is supported by industry-leading analytics, current UI, and a dedicated team. All you have to do is deposit your liquidity tokens, and the auto-compounding yield farm does the work.
It has a total value locked of $32,104,395.
CREAM Finance (CREAM)
C.R.E.A.M. Finance is a permissionless, open-source, blockchain agnostic protocol helping users on Ethereum, Binance Smart Chain, Polygon, and Fantom. Users who are passively holding Ether or wBTC can deposit their assets on C.R.E.A.M. to earn yield, similar to a traditional savings account.
Total Value Locked of $1.76b comprises Ethereum of $1.38b, Binance of $364.59m, Fantom of $22,596,104, and Polygon of $3,158,025. Currently, CREAM has a total supply of 9 million coins. Among the total supply number, 150,000 are currently in circulation. Some of the top exchanges to trade in Cream Finance are Binance, Binance.KR, FTX, Hoo and Uniswap (V2).
Grim Finance (GRIM)
It is a smart yield optimizer platform that enables users to stake LP-Tokens circulated from the AMM’s in Smart Grim Vaults. These tokens are automatically harvested and re-staked. The reward of the liquidity provider is LP-Tokens. It is a stress-free process where users reap their rewards.
Total Value Locked $13,273,169. In addition, the TVL data is pulled from the Grim Finance API.
StakeSteak (STEAK)
It is the prime Fantom-native, interest-bearing stable coin known as iFUSD. If you need less exposure as liquidity providers (LPs) and reduced underlying assets’ price risks, StakeSteak is the best.
It has a total STEAK Supply of 465,150, market cap of $2,176,90, total Value Locked of $10,691,912, and staking of $1,878,297. TVL calculates the fUSD transferred to create ifUSD and also, the tokens in Masterchef. Steak is calculated towards staking. On CoinGecko, TUSD can replace fUSD since fUSD is not listed.
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Written by: Narender Charan
