The Godfather of DeFi presented plans for the development of Fantom


The founder of Yearn Finance and Keep3r, Andre Cronje, shared the plans of the Fantom Foundation for the development of the ecosystem in 2023. He published the details of the roadmap in his blog on Medium.

Among the priorities for the next year, the Fantom Foundation has set the monetization of commissions for developers of decentralized applications (DApp). It is expected that monetization will work according to the type of streamers' income on YouTube and Twitch.

The organization also plans to save users from paying fees for using dApps in FTM cryptocurrency. However, the details of the innovation remain unclear.

"Our goal is to scale the baseline and simplify the creation of decentralized applications by offering sustainable (non-token-based) business models," Cronje said.

The developers plan to present business plans, as well as a marketing strategy for Fantom, no earlier than the end of the first quarter of 2023. At the time of writing, FTM quotes in the FTM/USD trading pair hardly reacted to the news, falling by 0.6% to $0.2. FTM's market capitalization decreased to $516.3 million.

In early March 2022, Anthony Nell, a software developer at Fantom, announced that Cronje had stopped "contributing" to the DeFi industry. The announcement came just a few days after Cronje's new project was criticized due to insufficient security, which allegedly led to the disappearance of user funds from liquidity pools.

A series of Fantom failures

At the beginning of 2022, the DataDAO project based on Fantom unilaterally withdrew almost $100,000 of client money. It turned out that the functions responsible for the withdrawal of all the liquidity of the contract through the address belonging to the developer were entered into the code of the smart contract. PeckShield analysts called for immediately disabling the synchronization of wallets with the project in order to avoid theft of cryptocurrencies.

At the end of September 2021, the Fantom Foundation announced cooperation with the Central Bank of Tajikistan to create a state digital currency. However, soon the Central Bank officially denied the news about cooperation. The National Bank of Tajikistan (NBT) has stated that it has not signed any cooperation agreements with the Fantom Foundation. The Central Bank also noted that it does not plan to create its own digital currency.

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