Thread by @crypto_klay

1/ As co-host of a #FantomUnchained; I often find myself reflecting on the future of $FTM 🧵 Part I

- What's working?
- Where are the gaps?
- Comparing vs. $AVAX, $MATIC, $OP

With thesis formed, I'll often analyze it against the prior decisions & future plans of the @FantomFDN

2/ It's easier said than done. I don’t work there.

I do my best to objectively lend perspective on #Fantoms trajectory. At times, I'm sure both sides would like increased communication between us...

But I do know, starting at the top, @FantomFDN's door is always open 🤝

3/ @michaelfkong (CEO), @SjHarcourt (BD), @theotherpomp & @juanaxyz00 (Marketing) always make time...

That’s RARE. It can’t be overlooked, dismissed or taken for granted!

And yet, @FantomFDN has a challenging task ahead. The L1 space is competitive & only getting more crowded.

4/ As a community, we are often very critical. As investors, we want tangible progress, visible results

We criticized $FTM grants, BD, Lack of VC’s, MKTing, & FDN Focus (TECH). Slightly warranted. Many chains are ahead in at least 2-3 areas

But now, positive change is coming...

5/ On 7/21, @FantomFDN joined @Maple_block for a joint AMA. Naturally, I listened!

It was eye opening 👀

The @FantomFDN opened the hood; laying out their future plans for #Fantom

Here, I'll do my best to outline the conversation from a 5 vertical perspective, see above ☝️

6/ Protocol Support & BD:

When the $FTM grants program abruptly ended, the reality is, it fractured some relationships in its wake.

You could also argue it negatively impacted chain TVL:

Alpaca, Alchemix, AAVE, who likely came to benefit, quickly deprioritized those efforts

7/ We acknowledge the past, but no longer dwell. Plus, TVL metric isn't bullet proof, it changes rapidly

A new initiative begins:

The 'Ecosystem Support Partners Initiative' from @FantomFDN, of which, @Maple_block is the 1st announced partner

Let's explain its significance...

8/ Ecosystem Support Partner Initiative is the 1st ever @FantomFDN / VC connection program

Raising capital is hard.

The @FantomFDN is now working to make it easier with introductions & support for protocols...

At maturity, this program will include 6 VC's investing in Fantom

9/ This new initiative breaks down barriers of finding + partnering w/ VCs. It helps streamline capital access. It provides a new protocol support layer from the FDN

Protocols can email the FDN @ [e-mail]

Your request should come w/ an investment ask framework...

10/ Fantom FDN's protocol support could soon look like this:

1. Ecosystem Support Partner Initiative
2. $FTM Grants - Gitcoin deployment (Q4)
3. Ecosystem Support Vault

The FDN heard the cries & has responded w/ multi-pronged builder support layers. Very positive trajectory!

11/ Competitively:

@optimismFND & @avalancheavax are currently incentivizing protocols tooth & nail.

It shows in TVL: $AVAX
Builders flocking: $OP

Pointing this out as you can't ENTIRELY pass the buck to VCs. The FDN must compete w/ a Grants Program like it's competition...

12/ Questions loom re: the Gitcoin funding model

Will it work? Why reinvent the wheel?

If ineffective, I believe the FDN should reconsider the original program, this time requiring contracts w/ terms.

TBD.

Key point: the FDN is moving in the right direction for protocols!

13/ Also encouraging:

@SjHarcourt acknowledge the Biz Dev efforts of @0xPolygon & their push to Web2

I've worked for:with enough Fortune 100 companies to know many of these partnerships end w/ smoke & mirrors...

But you cant deny their effects on retail; Meta/Disney draw 👀

14/ Sam explained the FND now plans to network through VC partners to partner w/ web2 companies

Showcasing #Fantom's technology.

Use #Fantom ONCE. It's incredible tech...

Hearing this strategy confirmed was BIG. It's needed.

I hope they staff 3-4 people STRICTLY for this!

15/ Sam's acknowledgment, plus the FDN's plans to enter the arena, shows me a revised multi-pronged strategy from FDN. More than just tech.

Build best tech: Duh!

But, simultaneously you need marque partners building on #Fantom. 3 R's: Relevant, Robustness, Retail.

Need all 3.

16/ Now, back to the VCs!

Community cries were #Fantom is losing ground to other chains because they don't have VC backing like @solana, valid...

FYI in Q2 HyperChain Capital invested $15MM of funding (round 3) with @FantomFDN

Founder Stelian Balta is clearly LONG #Fantom 📈

17/ Also by launching the 'Ecosystem Support Partners Initiative' the @FantomFDN is brining VC's in to help fund protocols

VC's are on both sides now. Putting the criticism to bed.

@Maple_block & others want to invest in #Fantom network & its dApps. Money will help fuel growth

18/ Marketing: Improving Onboarding Services

@FantomFDN is increasing focus on:

- Marketing support
- Technical support
- Partnership intro's for projects that can build symbiotically, Protocol X + Protocol Y

I believe this is a question of resources. Will there be hiring?

19/ Events: Sam stated the @FantomFDN is hiring events staff who will start organizing events around the world

Think Fantom Conference 2021...

The aim: "Bring community belonging & real world connection"

Key to growth is community. The $FTM price will move w/ strong community.

20/ @michaelfkong said:

"You’re going to see more of the technical people being more public. See a lot of the research roll out at a faster pace. It will be there for everyone to scrutinize & analyze."

I read this as new communication is coming. In what form? Town halls? 🤔🤔

21/ Breaking down this sentence:

"You’re going to see more of the technical people being more public"

I can think of 1 technical person who is behind the scenes still. He built Yearn.

Could he re-emerge? What impact would that have?

22/ TO BE CLEAR, I'm making journalistic assumptions & playing investigator. This should be taken as such...

I don't know exactly what they've planned.

I do know there are many influential people in the wings: Dr. Scholz, Andre, etc.

I was STOKED to here Mike say this!

23/ I went into the AMA with low expectations

I thought this would be a Ra-Ra event overhyping what could be an impactful VC partnership, with equal opportunity to fall flat...

Instead, what I got was strategy & perspective I hadn't previously heard from @FantomFDN

Thank you.

24/ It's been a SH*T start to 2022 for cyrpto (all chains).

On chain liquidation events brought max pain to #Fantom. But it also showcased how DAMN GOOD the tech really is...

$FTM FDN is listening, they are showing a pivot.

I like what I heard! Now they must HIRE AND EXECUTE!

25/ We covered FTM grants, BD, Lack of VC’s, MKTing

Part II I'll detail:

- Why tech heavy focus?
- Vertical scaling?
- Building for enterprise

The explanation on tech focus opened my eyes. It has to happen.

But now, strategy seems multi-pronged 🙏

That's how you come back.

26/ Run it back! Posting the start at the end, so the threads beginning appears at the top of my twitter page...😁😁😁

Enjoy Part I - Part II coming soon!

https://twitter.com/crypto_klay/status/1550923012601704448

@UnrollHelper