The Fantom ecosystem is growing fast – here are three DeFi projects on FTM that you need to know about. Covered: Fantom DeFi Projects Tomb Finance SpookySwap Decentralized Exchange Grim Finance https://t.co/AZwoBOgsqS will list Fantom $FTM @FantomFDNLearn more ?? https://t.co/ZxfPg826gC pic.twitter.com/UrY5QtYiJH — Binance.US ???? (@BinanceUS) December 16, 2021 Yesterday, Fantom (FTM) Opera network received a […] The post Three Fantom DeFi Projects To Keep Tabs On appeared first on CryptosRus.

Three Fantom DeFi Projects To Keep Tabs On

The Fantom ecosystem is growing fast – here are three DeFi projects on FTM that you need to know about.

Covered:

  • Fantom DeFi Projects
  • Tomb Finance
  • SpookySwap Decentralized Exchange
  • Grim Finance

Yesterday, Fantom (FTM) Opera network received a massive green light from the US crypto scene. Binance, one of the largest crypto exchanges in the world, announced that Fantom is coming to the Binance.US exchange. With the listing, more US users will be able to hop on FTM and take advantage of its unique decentralized finance (DeFi) protocols.

These are three Fantom projects to keep an eye on.

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Tomb Finance

Starting off the list is Tomb Finance (TOMB). Tomb Finance is a decentralized finance (DeFi) protocol on Fantom that allows users to stake tokens or provide liquidity to earn yield on their assets. 

Its native token, TOMB, claims to be the first algorithmic stablecoin on FTM, but it should not be confused with other algorithmic stablecoins such as Terra’s UST. Rather than pegging itself to the US dollar like UST, TOMB attempts to remain pegged to the price of 1 FTM token, meaning that TOMB is an ‘algorithmic stablecoin’ that still fluctuates in price, but remains ‘stable’ relative to FTM.

Tomb is one of the fastest-growing protocols on Fantom. Since mid-October, Tomb’s total-value locked (TVL) began surging from roughly $40 million to over $770 million, according to DefiLlama.

SpookySwap Decentralized Exchange

The next Fantom project to keep tabs on is one of the network’s largest decentralized exchanges (DEXs), SpookySwap (BOO). SpookySwap is one of the first DEXs built on the Fantom Opera Network using an Automated Market-Making (AMM). 

The exchange allows users to swap without any intermediary or trusted third party. SpookySwap focuses on user orientation, bringing an easy-to-use interface that offers a seamless experience for users.

SpookySwap’s BOO token is a governance token and diverse farms to motivate users to join this Fantom project to boost the platform’s popularity. Particularly, token traders on SpookySwap are charged a 0.2% fee (0.22% for limit order), which is a nice edge as compared to other competitors.

Alongside TOMB, SpookySwap’s TVL has been on a non-stop grind up since July. It’s slowed down since topping out a bit over $800 million, but the macro trend indicates that BOO’s current TVL of $672 million could still have a lot of room to grow.

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Grim Finance

Last on the list is a popular smart yield optimizer platform called Grim Finance. Fantom users invested in its underlying ecosystem might like to take advantage of Reaper’s yield farming pools. GRIM allows users to stake liquidity pool (LP) tokens issued from the AMM’s in Smart Grim Vaults, which automatically harvest and re-stake their rewards as LP-Tokens for a compounding effect.

For example, on Grim Finance, you can take your FTM and GRIM and deposit them into Reaper’s GRIM-FTM liquidity pool, allowing you to earn over 250% APY on your assets.

While FTM investors patiently wait for major catalysts to send the ecosystem higher, GRIM is becoming a top choice for investors to put their FTM assets to work. Just look at Grim’s TVL, which has climbed to $110 million at the time of writing.

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That’s it for now. If we missed one of your favorite Fantom projects, please let us know below.

The post Three Fantom DeFi Projects To Keep Tabs On appeared first on CryptosRus.