Fantom General Update

Published in

Fantom Foundation

3 min readApr 27, 2020

The past two weeks have been busy at Fantom with several important developments released, covering all facets of the Foundation’s operations. From business development and financials to technical development from us and our community, see it all below!

Smart Medicine & Smart Education Use Cases

Sam Harcourt, our Business Development Specialist, created two videos to showcase the application of Fantom technology in the Smart Medicine and Smart Education sectors. These are use-cases that we expect to see growth in demand for, and we’re excited to be actively building products to advance both industries.

Watch the Smart Medicine and Smart Education videos here on our official YouTube channel!

Fantom Foundation Treasury Update

We’re living through uncertain times, so here’s some peace of mind: The Fantom Foundation has a treasury of $5.4 million for operations, equivalent to 3.5 years’ runway at the current expenditure rate.

We haven’t included our future DeFi income as it’s highly variable, but we do expect this to increase the runway further.

See the full details here, with further disclosure on our monthly costs and a high-level overview of the team.

#BUIDLonFANTOM Developer Contest Results

The winners of our #BUIDLonFANTOM Developer contest were announced, with four prizes awarded for the successful launch of full products and proofs-of-concept.

block42 were awarded 950,000 FTM for their work on fantomstaker.info; the staking dashboard used extensively by our community.

FantomScan was awarded 950,000 FTM for his unofficial explorer, wallet and Opera data analysis tools — he’s since developed a Tipbot & Activity monitor for our Discord Channel.

Matt Prime & Bitcoin Alchemist were awarded 200,000 FTM for a Meme of the Day dApp that supports uploading, voting and commenting on memes. It’s also possible to verify the original creator of the meme. These general principles could extend to other forms of intellectual property in future iterations.

GoFantom earned a contract to work with us at Fantom. The SpeedTX and Supercharge dApps show how fast Opera can finalize transactions, and they’ve since made astounding progress on our new explorer, wallets and Ledger integration.

Check out more on what each of the teams has built here!

FantomVision PWA Explorer

We migrated the FantomVision explorer to the official explorer site. A new-and-improved GraphQL API gives us more power to handle periods of high load, while the PWA functionality allows users to download the explorer to their device. In future, you’ll even be able to opt in to push notifications to stay up-to-date on everything Fantom-related!

Learn how to install the official Fantom Explorer here!

Monthly Discord AMA

Our first Discord AMA since moving the official community chat was a huge success— 6 of the Fantom team were on hand to answer all your questions on Afghanistan, the Treasury, Wallet upgrades and more. These Discord AMAs will be held monthly going forward, taking place on the third Wednesday of each month; we can’t wait to see you there on the 20th of May!

If you missed April’s AMA, you can read through the transcript here in our Discord server.

New Technical Paper: Validity-Based Optimistic Smart Contracts

We’ve always placed a strong emphasis on academic research to push the performance of our technology forward. Last week, we released our latest technical paper on Validity-Based Optimistic Smart Contracts, proposing a new smart contract language that allows smart contract functions to execute concurrently for increased speed and efficiency.

Read a simple summary here, and the full paper here.