Fantom currently holds roughly 5% of the TVL in DeFi
DappRadar is happy to announce the integration of the Fantom blockchain and its dapp ecosystem. Users can analyze which dapps attract the most trading volume, unique user wallets, or process the most transactions through the Fantom rankings. This way everybody can gain insight into which dapps and tokens build solid communities and value on Fantom.
Like other Ethereum alternatives, Fantom intends to provide more scalability and lower costs than Ethereum’s current 1.0 setup. Fantom’s infrastructure is tied together through its Asynchronous Byzantine Fault Tolerant Proof-of-Stake consensus mechanism, which maintains the operational efficiency of the whole network. Moreover, the structure of the Fantom network is designed to preserve network security while maximizing speed.
Fantom: Built for DeFi
Fantom currently boasts $9.26 billion in total value locked, giving it around 5% of the total value locked in DeFi. An impressive figure considering Fantom only launched its mainnet right at the end of 2019. Fantom, which arrived at roughly the same point as BSC, quickly built a solid user base and grew the value locked in its network. Increased exposure of its dapps through DappRadar, The World’s Dapp Store, will raise awareness of Fantom dapps even more.
At launch, DappRadar will track 94 dapps within the Fantom ecosystem with the vast majority catering to DeFi and finance dapp users.
However, there are a growing number of dapps in the gaming, collectibles, and marketplace categories on Fantom. The NFTKEY Marketplace stands out, sitting within the top five dapps on Fantom right now. SpookySwap is the clear leader, accounting for almost 20% of Fantom’s total TVL with close to 90,000 users connecting their wallets to the DeFi dapp in the last 7 days.
Fantom Dapp Developers
DappRadar invites dapp developers to submit their dapps to DappRadar, creating more visibility on The World’s Dapp Store. Developers interested in learning more about Fantom and the possibilities available there can start on the Fantom website.