Thread by @0xOtw

🔑Points after Confronting #FTM CEO @michaelfkong for 1.5hrs

1. He thinks the current algorithm for UST stablecoin doesn't work because it is not backed by anything but faith, so it could go negative cycle when people lose faith.

(1/x)

2. He wants fUSD to have an over-collateralized model tied to the value of FTM.

3. He learned that Foundation should focus on tech, and Dapps protocols/fUSD should pass to community devs to handle.

(2/x)

4. He thinks FTM is unique amongs L1 because the transaction is processed asynchronously. It's like a Multicore processor vs. a single-core processor nowadays.

5. The algorithm makes the Fantom chain never goes offline.

(3/x)

6. FTM only needs 16GB of RAM to run a validator node, & the requirement will become lower along with the upcoming upgrades.

7. FVM will make FTM unbeatable in Speed & scalability.

(4/x)

8. As a CEO the KPI is to ensure they are on time achieving the technology goals, improve scalability, and ensure 0 downtimes.

9. On the ecosystem side, ensure they hit targeted metrics such as daily uses, wallet growth, applications being deployed on FTM, social media.

(5/x)

10. FTM dev progress looks slow because there is a lot of testing that needs to be done before launching on market. Rather slow & makes things right when handling others' money.

11. Coinbase listing or VC? It's just a matter of time. The focus now is the tech & longterm.

(6/x)

12. He markets FTM as the Fastest, Cheapest, 0 downtime network. These are should be the keys for all SmartContractPlatform to be usable on a big scale.

13. Andre still advising the FTM team. Just keep it in low profile. shh...

(7/x)

14. 5 yrs vision for FTM: 50~100x bigger chain. Scale 50x~200x throughput. FVM. P2P insurance.

15. FTM wants to focus on various Dapps not limited to DeFi.

(8/x)

16. He thinks ETH2.0 will delay again because there are some difficult issues & they are very conservative. He can't imagine how it works yet.

17. FTM now focuses on engaging the Dapps devs

18. 2022 FTM will upgrade to improve speed through data input-output & time sync

(9/x)

19. When FTM reaches max supply, fUSD is the answer.

20. He believes FTM is much more decentralized than other L1. Because all nodes are able to produce blocks without priority. And the low requirement will make it more decen. over time.

(10/x)

21. He sees decentralized as how the node is distributed. Not the token holders.

22. Follow @FantomFDN. All info will be posted there.

RT the first post & thank me later.