Fantom Launches USDB Stablecoin

Fantom Foundation (FantomFDN), a blockchain platform for DeFi, cryptocurrency decentralized applications, and enterprise applications, has created the USDB stablecoin. USDBank, xFHM,  Bridge, Staking Traditional Finance, Mint USDB are all part of the product landscape. On Twitter, the USDB team speculated on the highlights of its most recent event. One of the specifics is the merger of the FHM Protocol and the USDB stablecoin, which is now known as Balance. It generates income for both FHM and USDB, and the company announced that the minter is now operational. Several partnerships are expected to support the function, and farming may become accessible through LiquidDriver. Single Staking will be available soon, with solutions in place for momentary loss and steady rewards.

According to the mainstream Fantom crypto price prediction, Fantom’s price provided past investors with a huge great return on graph trading prior to the start of a fresh year. Fantom (FTM) currently has a market cap of $7,268,948,119 and a circulatory supply of 2,545,006,273 FTM. Fantom FTM has a 24 hrs volume of trade of $1,052,908,880.68, and the current valuation action is around $2.8.

In addition, the team has established TradFi bonds with rewards that tend to range from 21% to 32.50%. At some time in the future, the entire group will be invited to take part in pools that will pool the money raised from all users in order to keep the USDB pegged.

Other functionalities that the squad will start introducing in the coming months by integrating new solutions into its current systems include lending and borrowing.

A finder’s fee of 5 percent of any partnership worth $250,000 or more will be rewarded to any party who facilitates their use of their xFHM business liquidity solution.

It is correct to conclude that Fantom’s native cryptocurrency (FTM) has experienced massive volatility over the last year. Its USD value was around $0.43 a year ago, and it currently trades at $1.42. Nonetheless, its current valuation is far below the all-time peak of well almost $3.50 set in January 2022.

Andre Cronje (best known for his classic work on Fantom and Yearn Finance) announced in early March that he would no longer be working in the crypto world. Anton Nell, the Senior Solutions Architect at the Fantom Foundation, announced similar plans.

Fantom’s stock price fell as expected in the aftermath of the news. Nonetheless, the Fandom Foundation stated that the exit would have no effect on the project’s operational processes. Cronje confirmed his departure shortly after but stated that Fantom was on the right track technologically and that he has no doubts they will continue to excel.