The Fantom ecosystem has seen an unprecedented rise in the past few months. According to CoinGecko, it has a USD 6 billion marketcap with more than 30 tokens.
DeFi – Fantom projects have exploded, and the TVL numbers are only going to increase. Fantom has started consolidating now, and it’s up to these Ecosystem projects to carry the Blockchain forward. Some of these projects have been launched and are still in a very early stage. But these are Fantom projects that will become pioneers in the Fantom ecosystem shortly.
Fantom is a scalable and decentralized smart contract platform. It is a direct competitor to top Blockchains like Ethereum, Polkadot, Cardano Solana, etc. The two main features of Fantom are:
- High Speed: Transaction gets confirmed in 1-2 seconds.
- Low Cost: $0.0000001 per transaction.
Source: Fantom Network
On the other hand, the official Fantom portal lists about 73 dApps as of today in various category including DeFi, NFTs, Platforms, Wallets, etc.
In this article, you’ll discover the best NFT and DeFi projects in the Fantom ecosystem:
1. Fantom Starter
FantomStarter aims to become the gateway to many upcoming Fantom projects. It is a launchpad with staking features and promises investor priority through a Tier structure. Also, the FantomStarter will expand into DeFi, NFTs, and distributed exchange (DEX) listings.
Source: Fantom Starter
On the other hand, the valuation of the company is at USD 3.6 million. Notable investors included Ankr Network, Signum Capital, ZBS Capital, etc. The project will support Fantom (FTM), Binance Smart Chain, Ethereum, Polygon (Matic), and many other EVM compatible networks.
Also, the availability of Fantomstarter NFTs is restricted. Holding these grants access to utilities that regular $FS holders do not have, and likewise. These NFTs will be offered in the website’s forthcoming Store.
Finally, Fantomstarter has an upcoming IDO; Luckily, the whitelisting period is live from October 16th to October 24th. The investment phase will be opened from October 25th to October 27th.
HyperJump positions itself as Gamify Defi. Built on Binance Smart Chain and Fantom, it is trying to build an ecosystem around NFTs, gaming, and tokenomics to benefit the community. It currently consists of an alpha game release, a yield farm, single asset staking pools with dual staking rewards, vaults, and an Automated Market Maker.
HyperJump has two tokens on the Fantom ecosystem:
- HyperAurora ($AURORA) is the primary token of Hyper Jump. It is a deflationary token where a % of it burns on every transaction.
- HyperOrillium ($ORI) is generated as yield farm rewards and can be staked to earn more.
Also, HyperJump has four major features:
- Hyperswap – A DEX.
- Asteroid Field – A Yield Farm.
- Mech Workshop – A staking tool.
- Star Vaults – A yield optimizer.
Other Features About HyperJump
HyperSwap is a popular AMM on Fantom. It has a mechanism of using 0.05% of transaction fees to buy back ORI and burn it. Also, In the Asteroid Field, users can deposit LP tokens to mine ORI. Rewards are as high as 250% currently for specific pairs.
On the other hand, StarVaults is a savings instrument that optimizes your yield earning potential automatically. You can lock your LPs and enjoy the highest possible rewards.
It’s important to say that the HyperJump team fixed many vulnerabilities in other protocols, including the PancakeSwap syrup bug. The platform passed through a Certik audition.
3. Geist Finance
Geist Finance is a lending and borrowing market on Fantom, where depositors can earn by providing liquidity. Also, borrowers can withdraw funds using over-collateralized deposits. It is a very new project that was launched on October 6th. Since its launch that same day, the $FTM Price increased by 36%.
Source: Geist Finance
On October 8th, the Geist Finance Market size reached USD 10 billion. It is comfortably sitting at a TVL of USD 2.5 billion now and has quickly become one of the most popular Fantom Projects. Also, Geist Finance constitutes 50% of the total TVL of the entire Fantom DeFi Ecosystem.
Other Features About Geist Finance
What makes Geist Finance different is:
- Staking: 50% of the revenue generated through borrowing is distributed directly to users who stake $GEIST. Staking has no lockup. Currently, the protocol fees are averaging over USD 1 million per day. The reward is as high as 216%
2. Locking: $GEIST liquidity mining rewards are vested for three months but maybe claimed immediately for a 50% penalty. Then, users who choose to lock $GEIST for three months get the penalties as rewards. The current locking rewards are as high as 1900%.
Source: Geist Finance
On the other hand, the sudden popularity of Geist is because of the following key reasons:
- Simplicity: Geist is a simple Lending and Borrow protocol based on the popular DeFi protocol AAVE.
- Community Centric: It has no governance and no VCs. Instead, it features revenue-earning token sharing platform fees between token holders and liquidity providers over USD 5 million in protocol fees were distributed to $GEIST holders.
- Backing by Fantom: Michael Chen, ex-CMO of the Fantom Foundation and personally offered $FTM incentives for Geist protocol stakers until the $GEIST token meets requirements set by the Fantom Foundation to receive a developer grant.
4. Beefy Finance
Beefy Finance is a multi-Chain Yield optimizer platform that allows users to earn compound interest on their crypto holdings. The protocol includes liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities.
Source: Beefy Finance
According to DeFiLlama, the TVL of Beefy Finance has recently reached USD 1.1 billion. The contribution of Fantom in its growth is massive, where the TVL has increased almost 60x since June 2021.
Also, the main product of Beefy Finance is ‘Vaults,’ where users can stake tokens, and the protocol gives yield and automatically increases your deposits by a compounding mechanism. The funds are never locked. You can withdraw them anytime.
Finally, what makes this platform different from others are:
- Beefy Finance is a supported partner of Trust Wallet, Binance’s official decentralized wallet
- The platform distributes a large portion of platform revenue back to those who stake $BIFI.
- The mooVaults for yield optimization boast large APYs that outperform many of our yield farming competitors. Check out some of the yields on the farm.
Artion is an NFT marketplace built on Fantom. It immediately became popular because their founders are Andre Cronje and by Fantom Foundation. The platform is currently in its Beta version.
Fantom already has a big NFT Market. For example, it has 3000 NFTs of Ancestral Umans on Fantom that sold out hours after launch, collecting over a million dollars in revenue. Other projects like FantomRock, Degen Apes, and StrangeBrew gained immense popularity.
On the other hand, Artion can bring together all the famous NFTs of Fantom and become the “Opensea of Fantom.”
- Zero platform fee-Trade NFT’s via auction or direct offers without any fee taken by Artion
- Zero commission: Artion charges no commission of sales (compared to a flat 2.5% fee charged by Opensea)
- ERC 721 Support For the Beta release, Artion will support the ERC721
- NFT Bridge- Artain will be interoperable. In the next release, Artion will add a built-in version of Anyswap’s Ethereum-Fantom NFT bridge for interoperability with Ethereum
- wFTM wrapper- A built-in swap station allows users to wrap/unwrap FTM/wFTM without needing to leave the platform.
- Along with art, Artion will start selling Domain Names soon
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