Degens, as you may know, are crypto investors who are willing to take on high risks in the pursuit of high rewards. And if you're a degen, then Fantom might be the blockchain for you.
Fantom is a high-performance, scalable, and secure blockchain that's perfect for DeFi applications. However, it's also a poorly decentralized blockchain with only 58 validators and a Nakamoto coefficient of only 3. This means that it's more vulnerable to attacks than more decentralized blockchains like Ethereum.
In addition, the main bridge to Fantom, Multichain, was recently hacked, leading to a dramatic crash of Fantom's TVL (total value locked).
So why would anyone want to invest in Fantom?
Well, for one thing, Fantom is very cheap right now. The price of FTM, the native token of Fantom, has crashed by over 93% from its all-time high. This means that you can get a lot of FTM for a relatively small amount of money.
In addition, there are a number of new bridges for Fantom, such as Stargate and Axelar. These bridges will make it easier to transfer assets between Fantom and other blockchains.
There are also a number of high-yield DeFi opportunities on Fantom. For example, the Equalizer exchange offers APRs - higher than 100% on some pairs.
Finally, Fantom is still a relatively young blockchain. This means that there is still a lot of potential for growth. If Fantom can overcome its security issues and become more decentralized, it could become a major player in the DeFi space.
Of course, investing in Fantom is a risky proposition. The blockchain is still relatively new and unproven. There is also the risk of further hacks or other security breaches.
So if you're thinking about investing in Fantom, be sure to do your research and only invest what you can afford to lose.
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Disclaimer: Cryptocurrency is a volatile asset and your investment is at risk. Do not invest more than you can afford to lose.