Explore Fantom By Swapping With LI.FI
LI.FI Interoperability Expands To Fantom
Fantom is a smart-contract platform, and the organization behind the Opera mainnet blockchain. Blockchains built with Fantom’s tools, including Opera, are EVM compatible, making porting projects over from Ethereum a straightforward process. This simplicity has drawn many integrations from major players in the DeFi space, but Fantom is also gaining attention for its innovative consensus mechanism, Lachesis.
Lachesis, Fantom’s consensus algorithm for the Opera chain, combines Asynchronous Byzantine Fault Tolerance, Direct Acyclic Graphs, and a process similar to sharding to create a decentralized, secure and stable consensus, with block finalization times of 1 to 2 seconds. High speeds, low transaction costs, and fast block times have attracted a booming dApp ecosystem, which has made Fantom’s value grow over 30% in December 2021.
This article talks about Fantom and throws light on some of the most popular dApps in its ecosystem.
Let’s dive in!
Source: The Fantom Foundation
Exploring the Fantom Ecosystem
Fantom’s Opera chain launched in December 2019, and since then the Fantom ecosystem has grown to an incredible $8 billion TVL. With partners like Chainlink, The Graph and Covalent, Fantom is making huge waves in crypto, and new projects are clamoring every day to make use of the fast, low-cost transactions unlocked by Fantom’s Lichesis consensus mechanism. LI.FI is proud to be the leading aggregator of cross-chain bridges to Fantom. You can check out our documentation to get started integrating Fantom into your dApps today.
Here’s an overview of the most popular dApps on Fantom that you can use by swapping with LI.FI:
Source: Coincu
Decentralized Exchanges (DEXs)
When Sushiswap announced they would be integrating Fantom, it was a major moment for the Fantom ecosystem. At the time, Sushi boasted a liquidity of $3 billion, and to this day its TVL in Fantom is $300 million. This was just one of many DEXs that have either integrated or been built natively on Fantom, including Beethoven X and Curve. What attracts DEXs to Fantom is its fast transactions and low gas fees, which is what users are always looking for.
Developers who integrate LI.FI into their dApps have full access to swapping assets onto and from Fantom’s Opera chain with Spookyswap, Sushiswap, Curve, and all other Fantom-compatible DEXs.Source: Hyperswap Twitter
Gaming & NFTs
Low costs and high speeds open up many doors for innovators, and some of the most exciting new blockchain gaming projects are launching on Fantom’s Opera network. One standout is HyperJump, a platform that combines a yield farm, a staking pool, a yield optimizer, and a game called HyperHeist into one ecosystem. HyperJump’s Fantom TVL is over $2 million dollars and growing. Meanwhile, the popular GameFi NFT platform tofuNFT is supporting Opera-native NFT sales.
Gaming is one of the areas Fantom plans on making huge progress in, and the future looks very bright.
Lending Protocols
2021 was a big year for Fantom, especially with the announcement of C.R.E.A.M. launching on Opera and collaborating with Yearn to bring the Iron Bank lending protocol to Fantom. While C.R.E.A.M. makes lending easy, FujiDAO makes borrowing easy, aggregating liquidity markets (including Iron Bank) to offer its users the most optimized APR’s. Both C.R.E.A.M. and FujiDao have hundreds of millions locked into the Fantom ecosystem. That liquidity is accessible cross-chain for those who integrate LI.FI into their dApps.
LI.FI offers any-2-any cross-chain swaps from and to Fantom with its innovative cross-chain liquidity aggregation protocol.
Source: Fantom Partners Page
Native Fantom dApps
This section is about the amazing dApps built natively on Fantom that haven’t been mentioned above. Here’s a list of some of the most widely used native Fantom dApps:
Opera House — Built natively on Fantom’s Opera chain, Opera House is an NFT platform that caters specifically to users who want to create NFTs in a series.
SpiritSwap — Incentivizing economic activity on Fantom is SpiritSwap’s mission, and they do so with their ever-growing platform for trading, staking, and farming.
SpookySwap — Users love SpookySwap’s all-in-one platform because it provides them with swapping, staking, farming, and even bridging from ETH and BNB to Fantom.
Tomb Finance — Tomb Finance is a yield farm that ties its algorithmic TOMB token to Fantom’s FTM token, aligning its incentives with the growth of the Fantom ecosystem.
Degen Watch — Users in need of a DeFi portfolio monitoring app on the Fantom network need to look no further than Degen Watch, which also works as a yield farm tracking solution.
There’s a nearly endless list of ambitious projects integrating Fantom, and you can check them out on Fantom’s official projects and dApps page.
So, how can users explore the Fantom ecosystem?
By using cross-chain bridges individually or using a bridge aggregator like LI.FI that integrates the best bridges in the ecosystem and allows users to move their assets onto and from the Opera network.
To learn more about Fantom, check out:
The future is multi-chain and we strive for more interoperability. We aim to build the multi-chain ecosystem by maintaining good relationships with all the stakeholders. We’re grateful to have Fantom in the LI.FI family!
We’ve partnered up with the brightest minds and aim to build the best abstraction and aggregation solution available on the market. If you’re a blockchain network, bridge builder, or dApp developer, come talk to us and let’s work together!
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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.