Recently Fantom has drawn lots of attention to many people. A brand-new Fantom wallet can be created via the official website which works as a Progressive Web App (PWA). If people use Metamask wallet, the network should be set up as follows.
- Network Name: Fantom Opera
- New RPC Url: https://rpcapi.fantom.network
- ChainID: 250
- Symbol: FTM
- Block Explorer URL: https://ftmscan.com/
FTM is the primary token of Fantom network. It is used for payment, transaction fees of Fantom network and government. FTM tokens can be purchased from some crypto exchanges such as Binance or Uniswap. Due to very high gas fees on Ethereum recently, I personally would like to buy them from Binance, and Binance will support withdrawing FTM via Fantom's native network shortly. Fantom supports three types of blockchains including Ethereum, Binance Chain and Fantom Opera. If people send FTM tokens via Ethereum or Binance Chain, an extra 100 FTM is charged as bridge fee, which is really expensive. However, token transfers between Fantom Opera are really cheaper.
People can earn FTM rewards by staking their FTM tokens. They can choose the validators and determine how long they would like to lock their tokens. The longer you lock, the better rewards you acquire.
There are more features and functions will be developed to enrich Fantom’s ecosystems. We look forward to seeing great projects in the near future, and definitely, faster transaction speed and cheaper gas fee are must-have features in today’s blockchain technologies.
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