- Activity on Fantom was on a 30-day even though the co-founder put out an exciting update.
- If deployed, press time data showed that the memecoins might not match up to Solana’s.
Fantom [FTM], through co-founder Andre Cronje, has disclosed that it would be opening its network to anyone who wants to deploy a memecoin.
Cronje said this, in a blog post, published on the 9th of April. According to him, the goal is to create a “safer environment” for communities and investors.
Time to save the chain?
However, Cronje, who recently defended Solana [SOL] after the project faced some criticism, gave certain conditions. He noted that 10% of any of the approved tokens would be locked, and 5% would go to the team’s expenses. In other terms, he mentioned that,
“The remaining 85% of the tokens will be put up in a FTM/token LP in foundation multisig. An amount of 100,000 FTM will be provided.”
Fantom’s decision to unlock its doors comes off the back of a thriving memecoin season. While some blockchains have had their time, Solana seems to have remained atop the dominance.
But there was a difference between what was happening on Fantom and what Solana memecoins brought. Before the emergence of projects like Bonk [BONK], and dogwifhat [WIF], activity on Solana was impressive.
However, AMBCrypto’s analysis showed that it was not the same as the DeFi scalable blockchain. At press time, Santiment’ data showed how the 24-hour active addresses on Fantom were at their lowest in the last 30 days.
Author: Victor Olanrewaju
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