With the integration of Fantom, DeFi’s leading protocol, Yearn Finance, defines a long-term multichannel for blockchain-based money services.

New York, NY, Oct. 14, 2021 (GLOBE NEWSWIRE) – In the world of cryptocurrencies, NFTs would arguably attract full attention, but the decentralized financial industry has slowed down its own explosive expansion. Defillama. com, the total fixed price (TVL) in cryptocurrency-based currency is $210. 5 billion, a figure that represents an expansion of almost 1,000% since January 1 of this year, when TVL was around $21. 4 billion.

The DeFi area is evolving as fast as it grows. In the many social media posts and announcements circulating daily, a recent tweet, in particular, provides clues as to what we expect in the future. On October 7, 2021, the popular DeFi Protocol Yearn Finance tweeted an announcement as follows: ” Today we are moving to multichannel with the launch of Iron Bank Fantom and the first Fantom vaults. “

To date, Yearn has been featured only on the Ethereum blockchain. The addition of Fantom signals a broader move by DeFi toward next-generation blockchain protocols and validates Fantom as a leader in the space. Founder of Yearn and member of the main team of Fantom. Cronje is a DeFi luminary and has played a vital role in bringing Fantom to where it is today. With a TVL of $5. 31 billion (at the time of writing), Yearn becomes the leading DeFi protocol moment to integrate Fantom this year, the first being CURVE, which occupies the first position among all projects with a TVL of $15. 96 billion.

DeFi protocols are turning to Fantom for a clever reason: First, it’s the fastest blockchain in the industry. Transactions on the Fantom network are made in about 1 second, with low transaction fees. This, combined with Fantom’s EVM support, has attracted many developers to the fast-developing blockchain.

The platform has continued to strengthen this year, and the figures throw it out: as of October 8, 2021, there are 861,489 unique wallet addresses on the network, up from 113,326 in early June. recorded an average of 1. 10 million daily transactions, surpassing Ethereum in some days. Even in periods of much higher-than-average traffic, network functionality has remained constant, with no signs of slowing down or emerging fuel prices.

On the ecosystem side, projects are multiplying. To cite just two examples: The Fantom Foundation itself recently introduced Artion, a commission-free NFT platform that temporarily attracts artists and buyers eager to take advantage of minimal typing fees and low transaction costs. On October 5, the Geist DeFi lending platform was introduced, and within 3 days, it recorded $11. 5 billion in TVL.

This activity at Fantom has attracted a lot of attention. In September 2021, Fireblocks, the leading provider of institutional crypto custody services, incorporated Fantom to make FTM available to its 500 clients, adding banks, hedge funds, loan agencies, and other monetary institutions. Nansen incorporated Fantom into its platform, which gave crypto investors and analysts unprecedented visibility into cash flows through the Fantom network.

The Fantom Foundation hinted at much more to come, adding a primary reconfiguration of the Fantom wallet to help users to opportunities in the deFi area and a revolutionary Ethereum-Fantom NFT bridge Obviously, Fantom is a task to keep in mind in the coming months.

Press contact: Simone Pomposi Fantom Foundation pr@fantom. foundation https://fantom. foundation