AC Universe Hidden Map? Yearn founder tweets in support of Fantom, which has surged over 5000% this year

Since the beginning of 2021, Fantom FTM has surged over 5,000%. Apart from the influence and promotion by DeFi star developer Andre Cronje AC, recent significant updates have also been a key driver behind the token's surge.

What is Fantom FTM

Fantom, launched in 2018, is a smart contract platform based on Directed Acyclic Graph (DAG). As early as 2019, the cryptocurrency rating agency Weiss Crypto Ratings emphasized multiple times that this is a highly underrated public chain project.

DeFi star developer and Yearn Finance founder Andre Cronje AC once served as the chairman of the technical committee at Fantom. He remains a technical advisor for the project to this day.

Fantom Positive Developments Summary

• 03/07/2019: Launch of DeFi platform Fantom.finance
• 10/16/2019: Launch of fUNI, a Uniswap clone project
• 12/10/2020: Introduction of liquidity staking
• 01/12/2021: Release of on-chain governance
• 02/18/2021: Insurance protocol Cover goes live on Fantom
• 02/21/2021: Cross-chain asset bridging
• 02/24/2021: $35 million investment from Alameda Research
• 02/24/2021: On-chain data indexing protocol The Graph goes live on Fantom

Among these, "on-chain governance" is not particularly positive, as many DeFi protocols achieve similar on-chain governance through Snapshot. "Liquidity staking" increases capital efficiency, allowing users to receive sFTM at a 1:1 ratio while staking FTM, maximizing returns in DeFi.

The most anticipated positive development in the community is the endorsement by Andre Cronje. After he mentioned the advantages of deploying cross-chain assets on Fantom in a tweet, the FTM price quadrupled. Of course, the investment from Alameda also contributed to the price surge. Cronje described the cross-chain trading experience on Fantom as:

Users won't even realize they are on another chain; all operations will become fast and cheap instantly.

https://twitter.com/AndreCronjeTech/status/1362263811386839043

Nearly 6000% in Two Months

Under the impact of various positive developments, the FTM token price was only $0.016 at the beginning of 2021, and by February 9th, it had reached $0.14. As of the time of writing, it peaked at $0.86, representing a 5,418% increase in two months.

Below is the fluctuation of public chain concept tokens from 2/9 to present, with FTM still leading by a large margin.

Andre Cronje also emphasized that Fantom's original intention was not to be an Ethereum killer. Even though Binance Smart Chain (BSC) is currently competing with Ethereum, Ethereum will ultimately emerge victorious. Ethereum just needs some load balancing to ease its on-chain transactions.