Orbs Ecosystem Expansion: Fantom

Eran Peled
Eran Peled

|

9 months ago

blog

As we outlined in our recent introduction to Orbs 3.0, a key component of the Orbs architecture is multi-chain interoperability. This is essential in order to unlock the value of Orbs 3.0 as Layer-3 infrastructure and multi-chain PoS staking.

As part of this initiative, during 2021 the Orbs team integrated Orbs into the leading L1+L2 chains, making it available on 6 major infrastructure chains: Ethereum, BSC, Polygon, Solana, Avalanche and Harmony. This further facilitated the integration of Orbs with over 30 of the major DeFi platforms and protocols (such as UniSwap, SushiSwap, PancakeSwap, Kyber Network, 1inch, Alpaca Finance, Beefy Finance, QuickSwap, DinoSwap, Raydium, Trader Joe, Pangolin, with more to come in the near future...).

As we all know, DeFi is a fast moving race car, with new and exciting projects constantly popping up. The team is always looking for new opportunities and possibilities, which is why we're excited to announce the next steps for the Orbs ecosystem expansion...

Fantom: A Whole Other Opera

Fantom is one of the most recent layer-1 blockchains to enter the blockchain ecosystem. It is a fast, high-throughput open-source smart contract platform that aims to overcome some of the limitations of earlier blockchains, specifically scalability and transaction fees.

Fantom employs its scratch-built consensus protocol called Lachesis, which is claimed to have speed, security, and reliability exceeding those of alternative consensus protocols implemented by other chains.

Another key advantage of Fantom is that it is EVM-compatible, which enables a seamless migration of dApps from Ethereum and other EVM-based chains to Fantom.

2021 has been the breakthrough year for Fantom - 

The Fantom ecosystem has seen significant growth with over 100 dApps deployed on its mainet and its native token FTM rising to the top 30 by market capitalization.

Taking DeFi by Storm

With its unique value proposition and laser-focus on DeFi applications, Fantom's rise has been meteoric. As of today, Fantom ranked the number 4 chain in terms of TVL by defillama, with over $12B in TVL.

The top 3 Fantom-native DeFi protocols: SpookySwap, Geist Finance and Scream, have all managed to amass approximately $1B in TVL.

In addition, Fantom's EVM-compatibility together with its rapid growth has also motivated some of the biggest DeFi projects to integrate their protocols onto Fantom. These include among others: Curve, Yearn Finance, SushiSwap and more...

As can be seen, Fantom has managed to facilitate the development of new and impressive DeFi projects, as well as prompt some of DeFi biggest projects to integrate into its ecosystem. All in a span of less than a year. Very impressive indeed!

What's Next...

2022 is going to be an exciting year for the Orbs network with the launch of Orbs 3.0!

During Q1 2022, the Orbs network will have a major protocol upgrade with Orbs PoS V3: multi-chain staking on Ethereum and Polygon. Furthermore, we are seeing more and more L3 applications powered by Orbs coming to fruition, like The Open DeFi Notification Protocol and Revault.

Orbs' strategic expansion into the Fantom ecosystem will further solidify the ORBS token's status as a multi-chain asset which is integrated into all the major chains. In addition, it will open the door for more opportunities for collaborations with top Fantom-native DeFi protocols to showcase Orbs L3 capabilities.

Expect more news on Orbs and Fantom soon...

For the latest updates, join the official Orbs Twitter and Telegram groups.

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