The video discusses the Phantom project, which is a fast, high-throughput, open-source smart contract platform for digital assets and decentralized applications. The project emphasizes speed, security, and scalability and is ethereum virtual machine compatible, allowing dapps to be deployed and run on the platform. There are various partnerships and integrations with top projects such as Chainlink, Ren, Band Protocol, The Graph, and Waves, with over 200+ dapps already deployed on Phantom. The project’s token, FTM, can be staked to earn rewards, which can be used as collateral on DeFi platforms. The video recommends doing research before investing and provides links to the project’s various resources and social media channels.
Hey what’s going on! Welcome Back to the channel. In this video, we’re going to be taking a look at Phantom. I do want to say that I’m not a financial advisor, and you should do your research before investing money into crypto.
What is Phantom?
Phantom is a fast, high-throughput, open-source smart contract platform for digital assets and decentralized applications. What makes Phantom stand out? Let’s take a look.
The Phantom Website
The website looks very good, and straight off the bat, on the top section of the website, you have multiple links taking you to the Phantom wallet where you can stake your FTM. They’ve got their separate wallet, which is great, and they have an ecosystem of projects building on their software, including multichain.org, the Phantom bridge, and the FTM scan, which is their explorer.
Advantages of Using Phantom
Phantom provides speed, security, and scalability. Phantoms abft consensus protocol offers unparalleled speed, security, and reliability, with almost instant transactions and extremely low fees.
Phantom is Ethereum Virtual Machine-compatible, which allows you to deploy and run your Ethereum dApps on Phantom. They have many projects that they integrate and partner with, such as Chainlink, Ren Band Protocol, The Graph, and Waves.
Market Cap and Exchanges
Phantom is currently ranked number 65 on Coin Market Cap, with a market cap of $600 million. Eighty percent of the total supply is in circulation, and they have a hard cap on the supply of 3.17 billion tokens. You can trade the Phantom token on many top exchanges like Binance, KuCoin, Uniswap, Sushi Swap, and Pancake Swap.
You can earn rewards by staking your FTM to help secure the network and use your staked funds as collateral on DeFi. You can estimate your rewards by using their calculator and adjust the locking period to decide your current APR. You can choose to lock your delegation from no lock-up to a year lock for increased staking rewards and compounding your stake.
You can get involved with their project through various social media platforms such as Twitter, Telegram, and Discord. You can also check out their blogs for the latest news and updates.
In conclusion, Phantom is a promising project that offers great potential. However, like all investments, you should do your own research and due diligence before investing in it.