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Uncategorized

Fantom (FTM) Price Increases As Major Update to FUSD

January 29, 2023 - Around 2 mins mins to read

Key Points:

  • Andre Cronje, a co-founder of Fantom and a blockchain architect, announced significant updates to the ecosystem’s native overcollateralized stablecoin fUSD.
  • The update from Cronje was greeted by FTM, Fantom’s key token, with an increase of 7%. In just the last week, the token’s price rose 26.1% to reach $0.48, the highest since May 2022.
Andre Cronje, a co-founder of Fantom and a blockchain architect, announced significant updates to the ecosystem’s native overcollateralized stablecoin fUSD.
Fantom FTM Price Increases As Major Update to FUSD

The developer’s post claims that these changes are required to make the systems more dependable and cost-effective for partners, users, and builders. Planning with consistency broadens the ecosystem’s window of opportunity and is crucial for the transition to fUSD v2, according to Cronje.

The update from Cronje was greeted by FTM, Fantom’s key token, with an increase of 7%. In just the last week, the token’s price rose 26.1% to reach $0.48, the highest since May 2022.

Fantom USD (fUSD) liquidation

Fantom FTM Price Increases As Major Update to FUSD 1

There will be a liquidation mechanism added in fUSD v1 for any position where the debt in stablecoin is equal to or more than the collateral in FTM. The deposit will be unlocked and all benefits will be taken if the collateral is in sFTM, a derivative of staked FTM. A Fantom network validator will be disqualified from production if this happens and the amount of coins it is staking falls below the threshold.

A platform for exchanging the decentralized stablecoin DAI for fUSD was another invention. Users can now close the leftover debt after making a swap in order to exit positions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

blockchain architect

Fantom

FTM

FUSD

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Uncategorized

Fantom (FTM) Price Increases As Major Update to FUSD

Key Points:

  • Andre Cronje, a co-founder of Fantom and a blockchain architect, announced significant updates to the ecosystem’s native overcollateralized stablecoin fUSD.
  • The update from Cronje was greeted by FTM, Fantom’s key token, with an increase of 7%. In just the last week, the token’s price rose 26.1% to reach $0.48, the highest since May 2022.
Andre Cronje, a co-founder of Fantom and a blockchain architect, announced significant updates to the ecosystem’s native overcollateralized stablecoin fUSD.
Fantom FTM Price Increases As Major Update to FUSD

The developer’s post claims that these changes are required to make the systems more dependable and cost-effective for partners, users, and builders. Planning with consistency broadens the ecosystem’s window of opportunity and is crucial for the transition to fUSD v2, according to Cronje.

The update from Cronje was greeted by FTM, Fantom’s key token, with an increase of 7%. In just the last week, the token’s price rose 26.1% to reach $0.48, the highest since May 2022.

Fantom USD (fUSD) liquidation

Fantom FTM Price Increases As Major Update to FUSD 1

There will be a liquidation mechanism added in fUSD v1 for any position where the debt in stablecoin is equal to or more than the collateral in FTM. The deposit will be unlocked and all benefits will be taken if the collateral is in sFTM, a derivative of staked FTM. A Fantom network validator will be disqualified from production if this happens and the amount of coins it is staking falls below the threshold.

A platform for exchanging the decentralized stablecoin DAI for fUSD was another invention. Users can now close the leftover debt after making a swap in order to exit positions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News