What is the issue volume of FTM coins? One article to introduce the application scenarios of FTM coins

With a limited issuance volume of 3.175 billion coins and versatile utility, FTM coin serves as a cornerstone of the Fantom blockchain, fostering network security, governance, and a thriving DeFi and NFT ecosystem.

Oct 25, 2024 at 12:34 am

Understanding FTM Coin: Utility and Issuance Volume

1. Overview of FTM Coin

Fantom (FTM) is the native cryptocurrency of the Fantom blockchain, a fast and scalable Layer 1 platform designed for decentralized applications (dApps) and smart contracts. FTM plays a crucial role within the Fantom ecosystem, serving various functions and boasting a substantial issuance volume.

2. Issuance Volume of FTM Coin

The total supply of FTM is capped at 3.175 billion coins, making it a deflationary cryptocurrency. Approximately 1.5 billion FTM coins are currently in circulation, with new coins issued through the platform's staking mechanism.

3. Utility of FTM Coin

FTM coin serves multiple key utilities within the Fantom ecosystem:

a. Transaction Fees: Users pay FTM coins as transaction fees on the Fantom network, incentivizing network participation and ensuring the platform's security.

b. Staking: FTM holders can stake their coins to earn rewards and contribute to the platform's consensus mechanism. Stakers help validate transactions and secure the network, receiving newly issued FTM coins as compensation.

c. Governance: FTM holders have governance rights over the Fantom blockchain. They can participate in decentralized decision-making processes and propose or vote on changes to the platform's parameters or features.

d. DeFi Applications: FTM is used as a medium of exchange and value transfer within various decentralized finance (DeFi) applications built on the Fantom blockchain. It can be used to borrow, lend, trade, and yield farm through non-custodial protocols.

e. NFT Marketplace: Fantom hosts an NFT marketplace where users can buy, sell, and trade digital collectibles. FTM is used as the primary currency for NFT transactions, allowing collectors and creators to access a decentralized art exchange.

4. Conclusion

FTM coin plays a pivotal role in the Fantom blockchain's functioning and governance. Its limited issuance volume, combined with the coin's multiple utility cases, creates a sustainable ecosystem that supports decentralized applications, staking, DeFi, and NFT marketplaces. As the Fantom ecosystem grows, the demand for FTM coins is expected to increase, making it an attractive investment opportunity for cryptocurrency enthusiasts and blockchain developers alike.