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Ethereum (ETH) Rival Erupts 41% After Crypto Project Reveals Massive Altcoin Holdings

Ethereum (ETH) Rival Erupts 41% After Crypto Project Reveals Massive Altcoin Holdings

Due to a recent rally following a statement from one of its major contributors, a cryptocurrency project outperforms most markets. Andre Cronje, a prolific decentralized finance (DeFi) developer and “architect” at the Fantom Foundation, says the project should run for 30 years without selling a single FTM token. In a blog post, Cronje reveals details on the project’s finances with a timeline of its development since 2018. According to DeFi veteran, the Fantom Foundation has rejected several partnership offers, including with Alameda Research, the cryptocurrency trading arm of exchange FTX, now bankrupt.

5 January 2022: Alameda requests further cooperation, and we agree. 

January 14, 2022 – An exchange asks us for $300,000,000 to list, and we agree. 

May 2022: Losses of $50,000,000 after Treasury owned BOO, CRV, YFI, CVX, and ETH. Still>$100,000,000 in stables. October 2022 – An NFT exchange asks us for $100,000,000 for implementation.

November 2022: 450,000,000+ FTM, >100,000,000 in stables, >100,000,000 in crypto assets, $50,000,000 in non-crypto assets. The wage consumption rate of $7,000,000 per year. We have about 30 years left (without having to touch FTM)” Cronje says that while most Tier One projects own most of their tokens and generate revenue from sales, Fantom only has 3% at launch and 14% today owned. Apart from ETH, Fantom is the oldest non-bifurcated L1 with a real TVL; we have been operating for more than 4 years and plan to continue operating for at least 30 more years. We have a proven track record of technological advancement and delivery.

If your entire revenue model is to sell your token, you are harming yourself, your blockchain, and your followers. According to the blog post, FTM rallied from the $0.17 range to around $0.24 in less than two days, posting a 41% gain, making it one of the best in the crypto markets. At the time of writing, FTM is trading at $0.23.8% more in the last 24 hours.

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