Fantom is a smart-contracts blockchain that can create and run decentralized apps, similar to Ethereum. It was created as one of many platforms to provide alternatives to the Ethereum network. Fantom was launched in late December of 2019. Therefore it is still very new.

Fantom, like every other Ethereum network option, offers higher scalability and lower fees than Ethereum. The consensus method, which uses asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake, ensures the network’s operating efficiency (PoS).

On the Fantom blockchain, transactions are confirmed and completed in an average of one second, eliminating the need to wait for protracted block confirmations. As a result, the Fantom platform is one of the fastest.

Fantom Live Rate 

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Top 6 Best Projects Built on Fantom

Today, we’ll look at some of the most promising projects on the Fantom blockchain smart network.

1 – SpiritSwap

SpiritSwap is widely regarded as one of the most significant decentralized exchanges on the Fantom network, with no limitations on Fantom. It uses the well-known Uniswap user interface and it is a straightforward platform to use. Trading, lending, IDO, NFT trading, machine gun pool and automatic insurance are just a few of the features available.

Over the last few months, SpiritSwap has greatly improved the user experience. It has a very detailed analysis page for on-chain asset transactions on the Fantom blockchain, and it also offers an asset analysis panel for users. Users can view their assets, lock-up, distribution and liquidity mining income on the panel.

SpiritSwap not only facilitates trading but also encourages staking. Traders are paid for staking tokens on the Fantom (FTM) network, and they also help to secure the network. The advantage is that you get to choose your preferences, and after just a few clicks, you could start earning.

You will also receive a percentage of every trade if you stake their Spirit token. This means that if you decide to hold onto the Spirit token for a long time, its value will rise, allowing you to expand your trading portfolio. At the time of writing, SpiritSwap supported approximately 1,000 tradable fund pairs.

2 – SpookySwap

SpookySwap is the decentralized exchange platform on the Fantom blockchain network with the biggest transaction and lock-up volume, making it one of the most essential Fantom-based projects. Like Uniswap, it uses an automated market maker (AMM) technique. This is the protocol that enables all decentralized exchanges while obviating the need for centralized exchanges 

SpookySwap promotes the exchange of various digital assets inside the Fantom ecosystem. When you swap assets, a fee of 0.2 percent of the transaction value is paid. SpookySwap uses all of these transactions, instead of going through the Ministry of Finance or project foundations, like some other decentralized exchanges.

3 – HyperJump

HyperJump is a DeFi platform with a fun token ecosystem that runs on Fantom and Binance Smart Chain. It is primarily based on non-fungible tokens (NFTs), gaming and tokenomics. Its users only have good things to say about the highly efficient team of developers, who are available 24 hours a day, seven days a week. Space, time travel and other dimensions are among the themes on their website.

HyperBurn is a Binance Smart Chain token that focuses on burning with each transaction. The burn rate is determined by the price of BNB, and it can range from 0.5 to 33%. The Alloy token is a farming and staking token for HyperJump yield farms. Moreover, you can switch your tokens for Alloy using the HyperJump swap interface function.

4 – Waka Finance

Waka Finance is a DeFi platform expressly designed to take advantage of the capabilities of the Fantom blockchain. The Waka Finance team has extensive experience working on the Ethereum network, but they chose to look for other platforms to develop new decentralized applications with lower expenses and fees.

Waka Finance is also a swapping platform, to which you can connect your Metamask or Trust Wallet, to swap all kinds of tokens. The design of the website reminds me of a 1990s video game, which I find incredible.

The aim of the Waka Swap team is to provide as much liquidity to the Fantom ecosystem as possible. As Automated Market Maker improves, the team will be able to design more complex solutions to assist liquidity. A transaction charge of 0.3 percent is charged for each exchange, when swapping Waka Swap.

5 – ZooCoin

ZooCoin (ZOO) is a Fantom Blockchain-based trading platform. It has a lot of useful features, so let me go through a few of them. One of the highlights is a transaction aggregator, which gives the best asset exchange route with the least amount of slippage, integrating Fantom liquidity on decentralized exchanges.

Despite being the first trading platform on the Fantom network, ZooCoin is also a creative platform. In other words, you can do your work, upload it to ZooCoin, and sell it. If you’re a collector, you can use ZooCoin to purchase some of your favorite works. 

ZooCoin’s team claims that their primary goal is to attract a broad range of new users by making crypto investments fair and transparent, and ensuring that their goods also encourage people to utilize Fantom and develop more creative apps on it.

6 – Cover Protocol

The Cover Protocol is a peer-to-peer coverage protocol that uses fungible tokens. Its goal is to protect DeFi consumers from all smart contract risks, while allowing the market to establish coverage pricing. The Cover Protocol aids in the stabilization of the DeFi space by instilling confidence and trust between protocols and their users. Fungible cover tokens are at the heart of the idea. Fungible tokens are created when a user deposits collateral into the Cover smart chain.

This approach allows users to stake collateral in exchange for CLAIM tokens (which can be redeemed in the event of an exploit) and NOCLAIM tokens (which cannot be redeemed) (redeemable if no exploit occurs).

CLAIM tokens should be bought by users who want to avoid taking risks. Users who believe the Cover Protocol is secure, on the other hand, should use NOCLAIM tokens. It is difficult to believe, yet Cover Protocol allows its users to wager on its secrecy and safety.

Conclusion

Fantom (FTM) is a decentralized and scalable platform that aims to solve the problems that (current) blockchain networks face (mainly the Ethereum network). Of course, Fantom Smart Blockchain has been used to create numerous extraordinarily fascinating and useful applications, and I’ve attempted to include them all in this article. 

In my opinion, all of these initiatives should be of interest to investors and traders who are intimately involved in the crypto realm, and if you have read this far, you are undoubtedly one of them.

I believe that SpiritSwap is the best project ever established on Fantom Smart Chain, simply because of the host of functionalities that it provides to its users, at lower fees and expenses than other similar platforms offer.