Original author:Route 2 FI

Compilation of the original text: Deep Tide TechFlow

Original author:

Since the 2021 ascension, a lot has changed for the Fantom Opera network and the ecosystem built upon it. Let's take a look at what they've built in the bear market, the current narrative, and all the opportunities ahead for the $FTM ecosystem.

A quick overview of Fantom's current status and ecological construction in the bear market

Some quick stats on $FTM, as of February 16, 2023:

- Price: $0.56

- Market cap: $1.5 billion

-ATH: $3.46 (-83%)

-ATL: $0.0019 (+ 29,500%)

Fantom has attracted the attention of many DeFi speculators in 21 years, because it is very simple, cheap, fast and stable to use, it is one of my favorite chains.

Another familiar face has also publicly returned to the Fantom Foundation team (although he may never have left behind the scenes): Andre Cronje.

A quick overview of Fantom's current status and ecological construction in the bear market

The ecology is not standing still either, the Fantom Ecosystem Vault has been launched to help projects fund their efforts to build innovative dApps on Fantom.

At this year's Quantum Miami conference, the Fantom Foundation has some bigger news: FVM.

The Fantom Virtual Machine is the Foundation's upgrade to Ethereum's EVM."They announced FVM in February, and from their test results they estimated 4500 transactions per second with a block finality time of about 1 second."Another interesting thing that Andre Cronje introduced is that in the second/third quarter of this year, they will launch a

Gas subsidy

Something that allows users to join and use DeFi protocols without requiring $FTM tokens as Gas in their wallets.

According to Nansen, Fantom is one of the highest ranked chains by the number of active addresses. I think this number will increase if DeFi starts up again.

A quick overview of Fantom's current status and ecological construction in the bear market"But it was this news shared by Andre Cronje last November that really made Fantom explode again.

In conclusion:

In other words: Fantom is cash flow positive and can operate for another 30 years without selling its own $FTM tokens.

The news could not have come at a better time. At the time $FTM was trading at $0.18 but rallied almost 40% in the next few days.

Fantom DeFi：

A quick overview of Fantom's current status and ecological construction in the bear market

These stats from DeFiLama showing the total TVL across all chains may seem depressing, but remember we are in a bear market and most tokens are down (75-95% from ATH).

$FTM now has a TVL of $535M (ATH of $7.5B) and is competing with Ethereum, Polygon, Avalanche, Arbitrum, Binance Smart Chain, and more.

A quick overview of Fantom's current status and ecological construction in the bear market

SpookySwap is still the most visible DEX in the $FTM space, and many people use it to swap, or use the new cross-chain swap function integrated with Axelar. This allows users to swap BNB directly from the Binance chain to the Fantom chain.

It allows you to connect to a new chain without worrying about gas fees.

With some small tweaks to the code, it became a massive fork protocol on other chains, and eventually, a new competitor emerged on Fantom — the Equalizer. So far, it has driven an insane volume.

A quick overview of Fantom's current status and ecological construction in the bear market

Beethoven X - still going strong (biggest DEX after Spooky) but with the hype of Solidly fork, Equalizer gaining a lot of traction and their cross-chain, it doesn't get as much attention as 2021 and 2022 .

$MMY - the first perpetual DEX on $FTM has grown rapidly since launch, surpassing all initial expectations.

A quick overview of Fantom's current status and ecological construction in the bear market

Morphex ($MPX) - A recently launched new project that has received a lot of attention due to the popularity of the developer (Morpheus) in the Fantom community.

They are rolling out some new features soon and launching the platform in late February.

In addition, we also have OG protocols like Tarot Finance and Liquid Driver that are about to cross-chain, and can get huge returns at Thena.

In the current bear market environment, I won't come up with any Yield Farm recommendations, but you can find them through Nanoly.

Personally, the DeFi protocols I'm most interested in right now are: $EQUAL, $MMY, and $MPX.

To summarize why I am bullish on $FTM:

-FVM

-Andre Cronje is back

- stable cash flow

-Gas subsidy

- Easier to join DeFi