Fantom: speed, scalability and affordability

In a new installment of our series on networks supported by 1inch, we’re discussing Fantom, a blockchain that offers users speed, scalability and affordability.

The Fantom blockchain has emerged as a leading platform for DeFi, offering high speed, low fees and scalability. Known for its efficient architecture and developer-friendly environment, Fantom has become a favorite among projects and users alike. Since 1inch’s integration, users have been able to enjoy seamless, cost-effective swaps on this cutting-edge network.

What is Fantom?

Fantom is a high-performance, scalable and secure smart contract platform designed to overcome the limitations of traditional blockchains. Built on its proprietary consensus mechanism, Lachesis, Fantom offers near-instant finality and low transaction costs, making it a good choice for DeFi applications, NFTs and more.

Key features of Fantom include:

• scalability: Fantom’s DAG-based structure ensures high throughput and seamless scalability.
• speed: transactions on Fantom are reportedly confirmed in 1-2 seconds.
• low fees: users benefit from negligible transaction fees, fostering mass adoption.
• EVM compatibility: Fantom supports the Ethereum Virtual Machine, enabling developers to port Ethereum-based applications effortlessly.

Why Fantom?

Fantom is noticeable in the blockchain landscape for several reasons:

• Decentralized and secure: Powered by its Lachesis consensus algorithm, Fantom delivers high security without compromising decentralization.
• Developer-friendly: With robust tools, detailed documentation and an active community, developers can easily build and deploy dApps.
• Growing ecosystem: Fantom boasts a vibrant DeFi ecosystem, including lending platforms, DEXes, and yield farming projects.

Ecosystem highlights

Fantom’s ecosystem has rapidly expanded, with notable projects including:

SpookySwap: A leading DEX offering liquidity pools and yield farming opportunities.

Beethoven X: A next-generation AMM for optimized trading and earning.

Geist Finance: A lending and borrowing protocol with innovative features.

1inch on Fantom

Thanks to 1inch’s support for Fantom, users have been able to gain access to the best rates across DEXes on the network. Key benefits include:

• Optimized swaps: 1inch aggregates liquidity from multiple sources on Fantom, ensuring users get the most efficient trades.
• Low costs: Fantom’s low gas fees combined with 1inch’s efficient routing minimize trading expenses.
• Speedy transactions: Near-instant transaction confirmations make trading seamless and user-friendly.

Discover the power of Fantom and start swapping with 1inch today!