DeFi Project: The Fantom Ecosystem

Fantom Token $FTM
  1. Staking : is an important part of blockchain security. FTM is used to secure the network and earn rewards in the form of APY(Annual Percentage Yield) which is about 13%. Liquidity staking is an added advantage on the platform. It’s the rewards gotten from staking used as collateral in other DeFi protocols.
  2. Payments of fees: FTM token is used for payment of transaction fees between users and smart contract creation on the network.
  3. Virtual shopping : Fantom network has made virtual shopping easy for its holders. They partnered with a crypto e-commerce brand, Shopping.io, to allow users purchase goods and services from retailers like Amazon,eBay and Walmart.They are one of the first cryptocurrencies to achieve that feat making cryptocurrencies more adoptable amongst them consumers.
  4. On-chain Governance: FTM can also be used to give opinions on how the network is being run, vote on proposals, and create new proposals. It’s a great way to give everyone an equal chance to improve the network and be involved in the development of the Blockchain.

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