FTM (FTM/USDT – Trade it Here) is the in-house token of the Fantom Ecosystem. Fantom is a Defi-oriented smart contract platform based on the Lachesis protocol which uses asynchronous event transmission for practical Byzantine fault tolerance (pBFT) to create a leaderless, scalable, asynchronous Directed Acyclic Graph (DAG). This article will explore the core features and overall tokenomics of the Fantom Ecosystem (plus ways of how to buy and earn it on MEXC).
Core Features of FTM
Fantom is a layer-1 blockchain whose mainnet Opera is EVM-compatible and powered by the Lachesis consensus protocol. Lachesis is a directed acyclic graph (DAG) based, asynchronous, Byzantine Fault Tolerant, Proof-of-Stake consensus protocol that maintains the efficiency of the entire system.
- Speed. Transactions on Fantom are finalized in a second and cost a fraction of a cent.
- Security. Fantom’s validator nodes form a global, trustless, and leaderless Proof-of-Stake network.
How does Lachesis work?
- Each node in the Lachesis protocol operates on a local block DAG, namely OPERA DAG. Proof-of-Stake consensus protocol is integrated into a DAG model in the Lachesis protocol so that the general model leverages participants’ stakes as their validating power. Lachesis’s consensus algorithm uses Lamport timestamps, graph layering, and concurrent common knowledge to guarantee a consistent total ordering of event blocks and transactions.
- Lachesis protocol allows dynamic participation of new nodes into Opera network. Lachesis optimizes DAG storage and processing time by splitting local history into checkpoints (so-called epochs).
FTM Tokenomics
There is a total supply of 3.175 billion FTM tokens. Fantom is an ERC-20 token that is used on Ethereum, the Binance Chain, and on Fantom’s mainnet Opera chain. As with other governance tokens, FTM mainly serves to 1) compensate validators, 2)grant voting rights to holders, and 3)provide network security by requiring validators to hold a sufficient amount of FTM tokens to start earning rewards.
Users who stake Fantom (FTM) tokens on the platform gain an APR of a minimum of 3.79% to a maximum of 11.59. The rate of APR depends on 1) the amount of FTM tokens stake and 2) the total time for which the tokens are staked.
How to buy FTM Token?
Looking for how to buy FTM? You can purchase the Fantom Ecosystem token on MEXC following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “FTM” using the search bar to see the available trading pairs. Take FTM/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of FTM you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy FTM] to confirm your order. You will find the purchased FTM in your Spot Wallet.
For the comprehensive guide on how to buy Fantom Ecosystem and other available tokens, please visit special MEXC How to Buy Guides Section.
Recent FTM Token Price & Performance
FTM reached the highest price (ATH) of 3.264 USDT on January 16th, 2022. The lowest price of FTM since the ATH date was 0.198 USDT on June 13th, 2022.
FTM Token Staking
On MEXC you can periodically stake FTM and other tokens via MX DeFi event plus other staking products with flexible and fixed APYs. You can check the availability of the FTM token staking option here.
Interested in crypto like Fantom Ecosystem?
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