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Global Circulating Supply (total): 94666 / 26333
- Global APY: 1,844,460.9%
- Global 5-Day rate:
- Market price: $274.48
What is Fanthom?
Fantohm is a decentralized reserve currency protocol currently available on the Fantom Network (FTM) and the Moonriver Network based on the token. All tokens are backed by assets (e.g. , FHM-MIM LP tokens, etc.) in the Fantohm treasury. This gives the coin intrinsic value which acts as a price floor. Fantohm also allows for staking and minting. is a fork of
In the short term, they intend to optimize Fantohm for growht and wealth creation, in the long run their goal is to build a policy-controlled currency system on the network, which could function as a global unit-of-account and medium-of-exchange currency.
Fantohm intends to achieve price flatness for goods without the use of fiat currency, in order to finally seperate cryptocurrency from traditional finance.
Basically, they hope will be a non dollar-pegged stablecoin in the future, which can hold it's own against market volatility.
How can I participate?
There are two main methods currently:
- Bonding
Bonding is providing liquidity tokens or MIM in exchange for discounted tokens after a fixed time period. Stakers stake their tokens in return for more
What will benefit me the most?
In order to benefit the most from staking, supply has to grow. The protocol mints tokens from the Fantohm treasury, which are distributed to the stakers, which will auto-compound. If the auto-compounding balance of tokens outpaces the potential drop in price (inflation), then a staker would profit.
Bonders will benefit the most if the price stays consistent. They provide assets up front and will recieve a fixed return at a certain timepoint. The return is provided in tokens so the profit would rely on the price. This means a person deciding to bond tokens will profit if the price of stays consistent or rises.
Why is the price of FHM so volatile, and what is the point of buying now?
The main point of buying into FHM right now at a "premium" is because we are all so early in development of the Fantohm protocol.
When you buy and stake you lock in a percentage of the market capitalization, which will remain constant. This is because your token balanec increases along with the supply. The idea is that if you buy the token when there's a low market cap, you would own a significant percentage of the market capitalization at a later date.
The network is currently tuned for supply expansion, which paired with staking, minting, etc. results in some volatility.
can trade at a very high $ price, because the market is willing to pay this premium to capture a percentage of the Fantohm market cap. Do note, the price of could also drop a fair amount if the market sentiment turns bearish. Major volatility is to be expected during the growth phase.
Who created and runs Fantohm?
Fantohm was created by an anonymous team part of the DeFi-community. Currently most decisions are taken by the team, but they are expecting to turn the model into a DAO-governed one. Do note Fantohm is currently un-audited, but plans to have them occur at later stages.
Who controls the funds?
The funds in the Fantohm treasury are fully managed by the protocol itself. can only be minted or burned by the protocol. This is also a guarantee that the protocol will always exchange 1 for 1 "You can't trust the fed, but you can trust the code." -Fantohm
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