Did you know that Fantom has the best Market Cap/TVL Ratio of AND the most diverse DeFi ecosystem of any chain in the top 100?
So why hasn't it been crowned as the king of Alt-L1s?
In this 🧵
-State of the Fantom Network 👻
-Driving innovation in bear mkts 📖
-Future of $FTM 🏆
Founded in 2018 and developed by @FantomFDN, Fantom differs from other L1s through its consensus mechanism Lachesis, which leverages Directed Acyclic Graph (DAG) tech.
To put it simply, TXs on the network are validated by other TXs, instead of individual miners
Using Lachesis instead of traditional blockchain consensus mechanisms helps with:
Ethereum is deflationary for the first time since Dec 2022!
But what exactly is burning all this Ether? Let's find out 🦇🔊
1/ NFTs
While far from bull market highs, transaction volumes on @opensea have seen a resurgence, and >4,000 $ETH has been burned across various NFT marketplaces