The Fantom Foundation (FantomFDN) – a blockchain platform designed for DeFi, dApp and enterprise applications – has designed a stablecoin called USDB. It includes products such as Bridge, Traditional Finance, Staking, xFHM, Mint USDB and USDBank.
The team behind USDB tweeted the highlights of the latest event, which took place on March 25. One of them is the unification between the FHM protocol and the USDB stablecoin, which is now called Balance. It generates revenue for both FHM and USDB, and the team has announced that a service has already been launched to knock it out.
The new stablecoin is likely to receive support from multiple partners, and farming will be able to take place through LiquidDriver.
Single Staking will soon come with solutions for non-permanent losses and stable rewards.
Additionally, the team introduced TradFi bonds with prizes ranging from 21% to 32.5%. In the future, the entire community will be invited to participate in pools that will combine the collected funds of all users in order to maintain the stability of USDB.
The next features that the team will introduce in the coming months will be lending and borrowing. They will be integrated into existing systems. In the further part of the announcement, the company also proposed an interesting affiliate program:
It is possible to pay a 5% commission for finding a partner worth $250,000 or more to any person who will enable us to use our xFHM solution for business liquidity.
It is safe to say that the native Cryptocurrency Fantoma (FTM) has undergone considerable turbulence over the past year. Twelve months ago, its value in USD was about 0.43 USD. Currently, one token costs $1.42. Despite this, its current rate is still far from the ATH at almost $3.50, which it managed to reach in January 2022.
At the beginning of March, Andre Cronje (a developer known for his work on Phantom and Yearn Finance) announced his departure from the cryptocurrency industry. After this information, the price of FTM fell sharply. Nevertheless, the Fantom Foundation stated that the departure would not affect the project’s activities. Soon after, Cronje added that Phantom was still on the “right technological path.”
Even though I made the decision to move away from cryptocurrencies and DeFi, the Fantom team has been very honorable throughout my time working with it. I believe they are on the right technological path and I have no doubt that they will continue to be successful.