Andre Cronje: Fantom Currently Owns Over 450 Million FTM
Andre Cronje emphasized that compared to most Layer-1 blockchains, Fantom’s token supply holding is tiny and that such a “crypto company” shows the strength of decentralization.
Andre posted that Fantom currently has over 450 million FTM, about $100 million worth of stablecoins, over $100 million in other crypto assets and $50 million in non-crypto assets. Salary burn rate $7 million per year. In addition, Fantom currently generates over $10 million in annual revenue, excluding any capital gains.
Layer-1 blockchains already hold the majority of tokens in exchange for partnerships, and integrations. But Fantom is different from its competitors, which are actively buying back tokens, according to Andre.
“Don’t try to compete with competitors for “integrations”, “listings”, “partnerships”. Unlike most of our competitors, the foundation owns a relatively small amount of FTM. Most comparable L1’s own between 50% — 80% of their token supply.
At launch, Fantom owned less than 3%, today we own more than 14%. We prefer buying our token, we don’t “sell” our tokens for “partnerships”.”
He emphasized that Fantom’s cash flow is positive and that they are still scaling.
“We are cash flow positive. We are still scaling up.”
As Coincu reported, after being absent on Twitter for about one and a half years, renowned cryptocurrency developer and founder of numerous projects, Andre Cronje abruptly broke his silence. Andre‘s return, specifically with the Fantom narrative, came as a complete surprise, given his departure from all projects in March this year.
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