So I’ve been checking yield farming and yield agreggators and seems that ftm has better % in general. I had pretty bad experience farming in Oasis chain and some kinda edgy sites, and dont want that to happen again.
So is fantom worth the risk of using an alt blockchain?
Keep in mind that all non-native assets are bridged via the Multichain bridge (all ETH, other EVM tokens…). If the bridge ever gets exploited these assets are at risk. That’s why AAVE stopped their Fantom deployment after the Harmony bridge hack.
It’s still relatively safe, just keep this in mind and doon’t go all in
While not so heavy into DeFi these days I believe that Fantom and Avalanche are the hotspots for defi with solid opportunities, very competitive fees and as far as I know sound & safe options. Just Dia has scrapers deployed in 4 DEXes: SpookySwap (which I use), Beethoven, SpiritSwap and Curve (which I use),and other Oracles have been also increasing their scrapers on the space which brings visibility and trust IMO.
It’s a good chain. Think they’re releasing FVM later this year
1 bridge hack away from going to zero. Most ETH assets are bridged assets (none natively supported) and if a bridge gets hacked (see Harmony) then its over.
I use it, but the risks are there..
Fantom is pretty good, did lots of DeFi ops on it in 2021 and 2022. Can definitely recommend it, I’d say the risk is kinda low.
It’s pretty good but Polygon’s zkEVM is coming out next month. I don’t really see any reason to use Fantom over Ethereum knowing this. Just my 2c.
My absolute favourite is Polygon. Fantom had gas spikes that drove me crazy in the past, but other than that I really couldn’t complain. Check out Alpaca Finance and their vaults, I love it
For me it’s surely one of the major DeFi players, and incredibly undervalued!
> I had pretty bad experience farming in Oasis chain and some kinda edgy sites, and dont want that to happen again. So is fantom worth the risk of using an alt blockchain?
Everything has dodgy sites. I think the Fantom blockchain is secure but that’s the actual blockchain. Nothing stops a scammer from making some rugpull DEX or someone incompetent from writing bad code. That goes for any chain.
No matter what chain you’re on, a good rule of thumb is to stick to the biggest 1 or 2 protocols in any category. Let someone else guinea pig or crash test dummy for some brand new thing that just launched yesterday.
Fantom is fine. What i don’t like is the number of validators (like 60, right) I tried Cosmos and Avalanche and they offered a good experience on txs and farms APY’s
Is wftm a bridged token?
It’s actually a good chain. Expecting some good news this year.
It’s great. I started using it during the last bull and have continued using it through this bear market. Runs smoothly, cheap fees, good integration with major apps, etc. It seems like everyone else is remembering it’s great over the last week or so
I think it’s underrated, but honestly I don’t know if there is much difference between FTM and AVAX. I love them both.
This year has been a tense one for the cryptocurrency market. 2022 shows how disruptive and volatile the cryptocurrency market can be. However, the trends led by Avalanche and Fantom and the excitement surrounding the Big Eyes Coin platform give many cryptocurrency enthusiasts hope for 2023.
functionality wise it’s great, but the gas spikes can be pretty wild sometimes
I know there’s so much attention coming to Fantom at the moment.
I gave this chain a chance but I really don’t recommend it to anyone
I think Fantom is bigger than what most of us think. I also love the fact that projects like DIA are integrated on FTM to help developers develop faster dapps for the ecosystem. Hoping to see even more dapps on the ecosystem, especially more Defi projects.
Fastest chain for finality and .01 gas fees fantom is a great chain. Also oldest EVM chain besides ethereum
Fantom is a high-quality chain and almost unique since it can create a separate blockchain for each application. Actually, this is one of the best blockchains in terms of scalability and decentralization (imho). As already mentioned, I’m also using SpiritSwap and working on Dia’s GitHub scraper file through the package “scrapers” (Fantom). I’m just diving deep into coding rn.
So technically speaking, Fantom is decentralized like Ethereum but is powered by Lachesis which is kind of a combination of aBFT and PoS. The aBFT protocol (Hedera also uses this one) has a big advantage which is the creation of independent blocks. Concluding: I wouldn’t doubt Fantom, but some ecosystems on it can be tricky and may not follow the same quality.
I got curious. Can you tell me more about your bad experience with Oasis?
Fantom will absolutely be a major contender as a dominant chain in my honest opinion
fantom the chain is safe enough to use. Not knowing what you want to do with which assets on which site, the rest could be as safu or sifu as you want to make it
I like FTM but the emission rate has really hurt the price action imo. Does anyone know of an actual good project on FTM? Tomb and its forks are trash
Like another user said…all it takes is one bridge hack and your funds go POOF!
Not worth the risk of using these centralized shit-chains that masquerade as “defi”. They are not defi, at all.