Fantom Commits $314M in FTM to Boost Ecosystem Development

Fantom is the last Blockchain for a large budget incentive program, which revealed in a blog post on Monday a fund of 37 billion FTM, the Native burned of Fantom, to announce decentralized finance platforms (DEPI). The fund is worth more than $ 314 million from the press time. In the last week, the platforms of the zeal baseline and the avalanche also published incentive programs for hundreds of millions of dollars, part of a wider scope of competitors on the block blocks of ethereum, such as Binance Smart Chain, Polygon and Solana on pulling liquidity and Users. Read more: Can the avalanche keep it? The DEFI users who push up to shoot as incentives. While some traders are anxious to jump, Fantom is 70% of the day, while Celo has met 86.6%, some observers are concerned that programs can have involuntary consequences if the mercenary liquidity providers are taking advantage for short-term profits. Sutray the defi cake
Farmers and give traders are responding positively to the news, and is the expression of the willingness to take roots of projects aimed at accepting their total value activity and statistics (RVL).
“I’m reasonably interested in encouraging these new platforms,” ​​a member of Egirl Capital who goes through @degenspartan on Twitter.
“Money is a great incentive for bribes people migrate on assets and explore the ecosystem, as long as nothing to explore,” says @degenspartan.
But not all investors believe that competitive programs are sustainable. In a tweet this morning, Coal Samani, co-founder and managing partner in Multicoin Capital, said the programs could increase the risk of regulatory surveillance and that inviting short-term speculators could even suppress growth:
Incentives in line
But Andre Cronje – founder of Anhern.Finance, a platform that offers automatic financial product returns in etherea, and member of the Fantom Foundation, says that the Fantom program is designed to avoid those pitfalls. “[It is] much better to encourage builders who can attract liquidity, which only to encourage the same teams and over again to liquidity,” Cronjé said in an interview with coindsk.
“We believe the builders are best to judge where the funds should be attributed, if they have to be provided to build the protocol, or if they should be used for liquidity mining,” says Fantom in his ad, and adds :

“Instead of playing favorites and a majority of our resources to become a handful of protocols, we open this opening to every development team that will be deployed in Fantom.”
Read more: Tjello Trabel Aave, Curve, Sushi and more in $ 100m Defi Incentive Program

The Fantom Program will distribute FTM files to projects that maintain the TVL thresholds for established periods, which are aimed at projects that exceed $ 5 million and $ 100 million. The paid funds can be used for efforts of expanding mining or liquidity protocol, such as rent, at the discretion of the project.
Cronage is of the opinion that the method of commissioning innovation will promote instead of attracting only those who have a short-term benefit.
“In this way, we can actually see new products, not just the same copy / pasta products in each chain,” says Defi Developer. “We have rushed innovation with existing liquidity programs because smaller teams do not want to try to compete. Now they can”.

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Categorized as gerit