Fantom General Update and Recap

Fantom Foundation

Published in

Fantom Foundation

3 min readMar 16, 2020

By Connor Hughes

Fantom Finance

We recently launched the fantom.finance website to give an insight into what features users can expect from our upcoming DeFi platform. With fLend and fTrade at the core, the platform will allow users to collateralize their staked FTM (and rewards) to mint a stablecoin, fUSD.

This stablecoin is the heartbeat of Fantom Finance — you can choose to either lend/borrow fUSD with fLend or use it to generate synthetic assets and speculate on their price over time.

Check out the fantom.finance site, and stay tuned for further updates on the platform.

DCRM Alliance

Fantom was announced as a member of the DCRM Alliance, a group of organisations working towards decentralized custodianship and interoperability of distributed ledger platforms. Our friends at Fusion are spearheading the project and revealed the progress made to date.

Milestones achieved so far include the creation of a fully functional test network and generating transactions on different networks in a distributed manner. Future work will centre around contingency situations — unresponsive nodes and malicious actors among them.

Moving to Discord

We decided to move our official community to Discord to create a more organized and efficient space for the community to engage with and learn about Fantom. Discord’s native functionality means those with questions related to specific topics will be able to find the answers they need as soon as they join.

We’ve seen a much more constructive level of conversation since the switch — technical support issues have a dedicated channel, facilitating easier discussion of ideas in the general channel.

Here’s the full article announcing the move.

Come and say hello on Discord!

New development team joins Fantom

To help us achieve our lofty goals set out in the latest roadmap, we decided to hire an additional development team. GoFantom were already building awesome community tools like Supercharge, a dApp that lets you put Lachesis to the test by sending multiple test transactions at once. Following this, we decided to hire the team full-time to develop more ecosystem tools for the community.

Their development is currently centred on:

Optimising the foundation’s explorer
High-performance GraphQL API for the official wallets and explorer
Hardware wallet support for the official Fantom wallets
MetaMask-like compatibility for the Opera network for seamless connection to dApps.

Learn more about the team here.

Technical Update

To keep our community up-to-date with the latest technical developments, we decided to start a biweekly technical update release, with the first edition published last Monday. There was a strong focus on improving the special fee contract, tailored for the upcoming integration of Fantom Finance. Other updates include achieving decreased time-to-finality, enhanced validator documentation and further development of Xar Network.

Follow this link to catch up on everything Michael Kong laid out in last week’s update — the next technical update will be published in one week’s time (23/03/20).