Happy Crypto Halloween to the Leo Finance Community!
WARNING: THIS IS NOT FINANCIAL ADVICE, TRY THIS PROJECTS WITH RISK MANAGEMENT AND RESPONSIBILITY.
Trick or Treat
Salute to the HIVE and Leo Finance community! In this crypto halloween I want to present tw projects within
of the FANTOM ecosystem, a blockchain with serious potential.
In th
is blog we will talk about the Fantom ecosystem and some projects in this blockchain, whose exponential growth has not gone unnoticed among the
lovers of protocols and blockchains focused on decentralized finance.
But first of all, we must ask ourselves what is FANTOM?
Simply put, they describe this project as a custom blockchain network designed for speed, this means the FANTOM approach is
scalability and speed of transactions on this blockchain. If you want to know more about this project, please
see their official video.
VIDEO: What is Fantom?
The project was founded in 2018 by Ahn Byung Ik.
This man has a doctorate in computer science,
and he has worked in different technology companies with great
success in South Korea. According to Sales Wallet, a columnist for
Medium, apparently Byung Ik withdrew from the Fantom project due to
to the increase in cryptocurrency regulations in South Korea.
Currently Andre Cronje is Fantom's DeFi architect, and consultant at the
Fantom Foundation. According to Sales Wallet, this company is currently based
in the Cayman Islands
Source: https://medium.com/general_knowledge/fantom-ftm-deep-dive-serious-potential-5b91123a7c43
If you want to check in depth how Fantom and technology works
of this ultra fast blockchain, please read the article that I leave you here above and this article on Leo Finance from @revisesociology aboutt this project:
https://leofinance.io/@revisesociology/fantom-worth-fomoing-into
Now, the price of FANTOM has skyrocketed in recent months, reaching the
$ 3 ATH recently, on October 27th.
Source: Coingecko
This growth in the price of FTM has pleasantly surprised me, because the ecosystem
Fantom is big, and every day more developers are creating projects in DeFi protocols and
the NFTs. Here we can see some of the projects of this Blockchain.
The Fantom ecosystem is very interesting to investigate, among other projects, include Spooky Swap, but I have checked another swap from the FANTOM ecosystem, and this is SPIRIT Swap,
Let's look at Defi Llama, how the TVL of FTM and SPIRIT is currently:
Source: DeFi Llama
The FANTOM ecosystem alone has a total of $ 6 billion, distributed
in various projects, highlighting SPOOKY Swap, Spirit Swap, AnySwap, Geist Finance, Tarot,
among many others ...
Source: DeFi Llama
Now, let's see how the price behavior of the Spirit Swap token has been, (SPIRIT)
Source: Coingecko
Currently the Spirit Swap token is ranked at # 512 on Coingecko's list and is priced at
$ 0.35. Despite the downfall, I trust the Spirit Swap project as another project that may have the
the same growth that SPOOKY Swap has had, in addition to the fact that the yield farms offer very good percentages
within the DeFi world, compared to other chains such as Ethereum, BSC and Solana.
If you want to see the SPIRIT Swap page, visit this link.
Source: Spirit Swap dApp
WHERE ARE THE MATRIX CHARACTERS ON FANTOM CHAIN?
Morpheus and Neo come at the end, I think almost everyone who is reading this article some
once in their lives they saw the Matrix movie. And we love that trilogy.
What would you say if Morpehus and Neo have reached the Fantom ecosystem and allows us to do YIELD FARMING
through decentralized applications? That's right, Morpheus and NEO, our favorite Matrix characters are now in the DeFi world.
WHAT IS MORPHEUS SWAP?
Source: Morpheus Swap Webpage
Briefly, Morpheus Swap is a yield farming / aggregation protocol powered by Fantom
The Morpheus Token (MORPH) chart also looks like a lot of potential for future earnings.
If we enter the dApp, we can see that the interface is the same as other DeFi protocols
like Pancake Swap and Uniswap. If you want to make transactions or enter the pools
of liquidity, you can connect your wallet with Metamask, Trust Wallet and Math Wallet.
If we see the yield farms, we can see the liquidity pools, in this section the pairs stand out
MORPH-FTM, MORPH-MIM, WETH-FTM, SPIRIT-FTM, among others. APRs are ridiculously high, starting at 77% in
USDC-FUSDT stablecoins and a maximum of 500% on the MORPH-MIM pair. If you want to investigate these farms, please go to this link and investigate it yourself.
And the best of all, the Morpheus TVL has relative low money locked, but has a great potential to grow even more.
Source: Morpheus Swap
Finally, if we look closely this dApp, we can also watch the NEO POOLS and stake tokens with a high yield return!. And, if we look at the MORPH Token chart and price, we can see that this token has a lot of volatility, due the high yields that this platforms offers to the users.
Source: Coin Gecko
That's all for today, if you like this blog please leave a comment below. And remember, if you invest on this tokens or platforms please consider the risks and do it on your own responsability. Personally, my strategy consists on gaining money trading on CEX like Binance and FTX and put the money i gain on the DEX, i want to migrate from decentralized exchanges to decentralized exchanges an projects like Cub Finance here on Leo Finance and this projects in Fantom and other chains will offer us a lot of opportunities.
Keep safe and happy crypto halloween!
Useful links:
https://www.fantom.foundation/
https://ftmscan.com/
https://anyswap.exchange/
https://app.spiritswap.finance/#/
https://morpheusswap.finance/
Posted Using LeoFinance Beta
As someone who's trying to diversify away from being so reliant on BSC, this has been a really interesting read.
Do you think Fantom (FTM) based DeFi dApps could be what I'm looking for?
Any recommendations that I should research a little bit deeper?
PS. Why are there all those weird line breaks lol?
Posted Using LeoFinance Beta
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