FTM, the Fantom network utility token
Sep 30, 2023
FTM is the native token of the Fantom network, a decentralized finance platform that uses its own consensus engine, Lachesis. It makes transactions faster and maintain the security of blockchai...
Learn about FTM, its price and what it is for
What is the price of Fantom (FTM)?
In June 2022, the price of a unit of FTM was approximately 0.26 USD, subject to market variations. FTM has its max supply limited to 3.175 billion units. Of these, approximately 2.55 billion are in circulation, making up approximately 80% of the total supply.
What is the FTM token for?
The FTM token has a number of uses within the Fantom platform. FTMs can be used to staking (making tokens available on the network to provide liquidity and be rewarded for doing so), to make and receive fee payments and any other type of network transaction. FTMs are also used to manage the network, so the more FTM tokens a person has, the more votes they will have in network improvement decisions.
What are DApps and what are they for?
DApps are important decentralized finance applications that use peer-to-peer technology, based on blockchain technology. Through DApps, it is possible to send and receive payments without an intermediary, such as banking institutions. DApps are also used to send and receive tokens using smart contracts: self-executing software that are run when certain criteria are met.