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Over $300 Million in Incentives!!! Fantom massively steps up their DeFi game Pt. 1
What happens when a $1.25 billion market cap smart contract platform commits over $300 million to build out its ecosystem? We are about to find out! In less than 3 days, Fantom’s market cap has nearly doubled, hovering about $2.25 billion.
In this article, you will find out more about what this means for Fantom and it will be followed up in Pt. 2 with instructions on how I am interacting with the Fantom ecosystem. This article is not financial advice and I am not a financial advisor. These are my opinions and observations.
Why is Fantom’s incentive program so important?
Currently, we have some pretty hefty competition in the smart contract arena. And with over $100 billion in total value locked on smart contract platforms, the pie is growing exponentially. Take a look at the graph below. One year ago, we had about $10 billion locked on Ethereum with no competition.
Let’s look at the main competitors: Ethereum, Binance Smart Chain, Terra, Polygon, and Solana. In the near future, we should be seeing smart contracts coming to Cardano, Polkadot, Kusama, Elrond, and…
