The layer-1 EVM compatible Fantom DeFi platform has witnessed extreme profitability this summer. During the previous month, the same crossed $306 million, reflecting a 3-month hike of over 800%.
According to Simone Pomposi, Marketing Head, Fantom Foundation, informed that the platform touched $380 million in the middle of August 2021. He is prospective about Fantom’s recent integration with Chainlink Price Feeds. The venture is likely to unlock many possibilities that were difficult to achieve in the past. He said that many Ethereum-based protocols were longing for Chainlink Price feeds to release their decentralized applications on Fantom. Talking about the level of infrastructure, he said Chainlink Price Feed is like a huge missing piece of the puzzle that will now give options to developers to choose the right tool for building Fantom.
Fantom has recently grabbed eyeballs in the market for its compatibility with EVM, relatively low fees, and consensus mechanism (aBFT) that conducts one-second transactions irrespective of the network volume.
Chainlink has so far built a strong reputation in the market because of its resilience against data downtime, flash crashes, and market volatility. The developers picking Fantom would therefore have the access to decentralized and high-quality data along with being the cost-efficient and high-performance features of the platform.
According to Pamposi, the integration was a well-thought step and is likely to bring many changes in the future. He added that Chainlink will enable them to have more projects based on absolute price feed and their applications. The same enhances trust and reliability among the Fantom community. He said that the future will rely on the leverage of Chainlink and Fantom to create something innovative or unimaginative.
The integration between Chainlink and Fantom can be the bridge between different networks that are willing to enter but couldn’t.