Eager to differentiate itself from others in the DeFi platform, crypto dApps, and enterprise applications, Fantom announced an incentive program. Fantom is collaborating with Gitcoin Grants in a new 335 million FTM incentive program. The Foundation will lead to a greater variety of projects built in the Ecosystem. This includes DeFi, Gaming, and NFTs.
In June, the next round of Gitcoin Grants will take place. The Fantom Foundation will match user donations with 3 million FTM. It will donate 1.5 million FTM in the following rounds.
Fantom Price Watch
Fantom prices peaked at over $3.0 in Oct. 2021 and again in Jan. 2022. After bottoming in early March and rallying, pricing pressures are accelerating. Nasdaq’s step correction on April 5 – 6 is hurting Fantom and other cryptocurrencies.
To surpass past highs, Fantom has a mountain to climb. Long-term prospects will depend on the gap between the total value locked in the protocol against the market cap. The wider the discount, the greater its safety, relative to other cryptos.
Risks and Your Takeaway
When Andre Cronje exited DeFi and the crypto industry, markets turned their attention to fantom. Watch out for Competition between FTM and Bitgert to intensify. The Fantom network will need continued adoption momentum. Without it, Fantom could get weaker.
