Fantom FTM / USD is a directed acrylic chart (DAG) smart contract platform that essentially provides decentralized finance (DeFi) services to developers using its own custom consensus algorithm.
Fantom aims to solve the problems associated with smart contract platforms, specifically transaction speed, which developers indicate can be reduced to less than two seconds.
The OpenOcean partnership as a catalyst for Fantom Growth
In April, we discussed the investment Fantom received of $ 15 million from HyperChain Capital. Today we will discuss your OpenOcean implementation.
OpenOcean is one of the world’s leading DeFi and CeFi aggregation protocols, and has announced its collaboration with Fantom.
Fantom uses a consensus mechanism called Lachesis, which offers increased capacity as well as two-second transaction completion along with security enhancements over traditional platforms based on proof-of-stake (PoS) algorithms.
Fantom’s core DEXs are also included, including SpookySwap, SpiritSwap, SushiSwap, and Curve.
OpenOcean users, as such, will have greater access to more business opportunities at the best price.
This decision for the fantastic OpenOcean aggregate is based on community votes as well as Fantom-based assets.
OpenOcean also joined Avalanche in August.
Additionally, OpenOcean has added ten networks, as well as more than 45 DEX and CEX so far.
Should I buy Fantom (FTM)?
On October 6, Fantom (FTM) was worth $ 1.31.
To get a better perspective on what kind of point of value this is for the FTM token and see how much it can grow, we will compare it to its all-time highest value, as well as its performance in September.
Its lowest point for September was on September 1, when the token’s value fell to $ 0.70.
Fantom’s all-time highest value (FTM) was achieved on September 9, when the token was worth $ 1.92. We now have a perspective of its highest value point and its highest value point in September.
When we compare this value with the value on October 6, we can see that the token was worth $ 0.61 higher, or 46%.
However, from September 1 to September 9, the token saw an exceptional increase in value of 174%, or $ 1.22.
With this in mind, the token has the potential to surge to $ 1.76 at the end of October based on this OpenOcean partnership, which could lead to increased activity from the Fantom network and the FTM token.
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