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HyperChain Capital, a digital assets management company, said it bought an added $15 million stake in the Fantom ecosystem through the purchase of FTM, the platform’s native token.
- The investment by the Singapore-based firm, which focuses on blockchain products and decentralized protocols, is on top of the $2.5 million investment it made in Fantom in 2018, Fantom said in a blog post.
- In addition to investing in Fantom financially, Hyperchain Capital said it's involved in securing the network through a subsidiary that runs validator nodes on Fantom.
- The Fantom Foundation, founded in 2018, is building a scalable blockchain ecosystem designed to facilitate decentralized, scalable, and secure applications.
- Fantom was built to be a kind of "load balancer" to the popular Ethereum blockchain. Due to heavy traffic, Ethereum can be plagued by congestion and high transaction fees. Fantom is designed to act as a bypass around that congestion, allowing for faster, cheaper transactions. Fantom literature says the blockchain has 1-second transaction speeds and near-zero fees.
- The price of FTM is at 50 cents, up more than 29% in the last 24 hours.
Read more: SushiSwap, Fleeing Ethereum Fees, Is Now Live on BINANCE Smart Chain, Fantom, Others
