Fantom Mainnet (FTMMAINNET) Price

Fantom is a highly scalable blockchain platform for DeFi, crypto dApps, and enterprise applications. It is a high-performance, open-source, and energy-efficient blockchain platform designed to enable fast and secure transactions at a low cost. It utilizes a unique consensus mechanism called Lachesis, which allows for near-instant finality and high throughput, making it suitable for various use cases, including DeFi, NFTs, and enterprise applications.

The FTM token has three versions, including the Mainnet token, Ethereum (ERC-20) token, and Binance Chain (BEP-2) token.

The Mainnet FTM token has multiple use cases, including network fees, securing the network through staking, and on-chain governance. Transactions on Fantom are confirmed in less than one second and cost just a few cents, making it an affordable and speedy network for payments.

FTM token holders can earn rewards by participating in securing the network through staking, where they lock their tokens for a specified amount of time and earn rewards proportionally according to the number of tokens delegated and the lock period. Users with a minimum of 500,000 FTM tokens can participate as validators and earn transaction fees on the network.

On-chain governance is another essential utility of the FTM token, allowing stakers to propose and vote for policy changes or improvements. When voting, each staked Fantom represents one vote.

The FTM token is also available as an ERC-20 token standard, usable on Ethereum, and a BEP-2 token on Binance Chain. The Binance Chain handles transactions on the Binance DEX, making FTM available for trading on the exchange.