Fantom Weekly Recap Week 45 (03/11 – 10/11) 

Source : cryptodaily.io

The Fantom ecosystem is always growing and moving forward. To help you not miss any news & movements of the ecosystem in the last 7 days, here is your Fantom Weekly Recap Week 45.

Key Takeaways

  • A Week on Fantom Review
  • Fantom On-chain Data Highlights
  • The Return of Andre Cronje
  • ARC Reactor is deploying GMX to Fantom
  • Fantom Ecosystem Spotlight: Kanpeki
  • Fantom’s Total Unique Addresses have reached 10M+

Ecosystem Update

The bullish trend continued on the Fantom ecosystem last 7 days. Much huge news was announced with the spotlight: the return of Andre Cronje. However, the bulls are expected to stop after the announcement of the collapse of FTX – Sam Bankman-Fried.

A Week on Fantom Review

Last week was a bullish week for the whole Fantom ecosystem. All critical metrics have skyrocketed, especially the Social Metrics as the community was excited about the return of Andre Cronje.

Leading in both TVL & Price gainers is Based Finance while the most influential project of the week is Floki Inu.

However, with the collapse of FTX & Sam Bankman-Fried this week, we cannot expect a bullish trend like this in the next few days.

Fantom On-chain Data Highlights

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All key On-chain Metric of Fantom have risen significantly over the last 7 days, especially on the Unique Addresses metric, with an increase of nearly double compared to the previous week. Fantom has also maintained a low gas fee & a stable level in Daily transactions while keeping burning FTM tokens.

The Return of Andre Cronje

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Andre Cronje – The “Godfather of DeFi” has officially returned to Fantom Foundation. He is now the Vice President of Meme at Fantom.

In the past, Andre Cronje was a DeFi Architect & Technical Advisor of Fantom. The DeFi heritage that Andre left for the Fantom ecosystem & the crypto market was huge: Yearn Finance, Keep3r Network, Cream V2 & Solidly – the name that created a booming on Fantom in Q1 2022. 

Now returning as Vice President of Meme, can Andre make Meme Coin, GameFi, or Metaverse the next trend on Fantom? 

ARC Reactor is deploying GMX to Fantom

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ARC Reactor – a Web3 collaborative visual developer studio, is fully integrated into Fantom. ARC Reactor can instantly visualize & audit code, change smart contract functionality & redeploy any functionality cross-chain to Fantom.

The first mission of ARC Reactor on Fantom is to pull GMX code from Avalanche to Fantom, or in other words, porting GMX to Fantom.

GMX is the leading Decentralized Perpetual Exchange that was famous as the pioneer of the “real yield” trend. GMX is currently also the no.1 project in Arbitrum in terms of TVL.

For more information, click here.

Fantom Ecosystem Spotlight: Kanpeki

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(Source: Fantom Foundation)

Fantom Foundation is honored to introduce the new member of Fantom Ecosystem Spotlight: Kanpeki Finance.

Kanpeki is an incentivized, non-custodial, individualized, fixed-rate borrowing and lending platform. 

On Kanpeki, lenders and borrowers decide what amounts they wish to lend/borrow and at what interest rate. The protocol individualizes lending and borrowing by matching both sides, but borrowers are heavily incentivized with KAE to accept higher interest rates. 

For more information, click here.

Fantom has reached 12M+ Unique Addresses

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The Total number of Fantom’s Unique Addresses has reached a new all-time high: 12M Total Unique Addresses. 

Surprisingly, Fantom achieved this new milestone just a week after reaching 6M, which means the Total Unique Addresses on Fantom are doubled in just 7 days! 

The skyrocketing of Unique Addresses, as we have explained in the previous newsletter, came from the appearance of XEN Crypto – a project that allows users to free mint tokens. The news of Andre Cronje’s return last week also pushed this metric to an even higher level.

Hope this rally can continue in the next few days despite the harsh market situation.

Additional Highlight Events

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