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Wrapped Fantom

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Discover Wrapped Fantom's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Wrapped Fantom?

Wrapped Fantom (WFTM) is a cryptocurrency token that operates on the Fantom network. It is designed to solve scalability issues in traditional blockchain technologies by utilizing a Directed Acyclic Graph (DAG) based smart contract platform. WFTM aims to provide fast transactions and low fees, making it suitable for real-time transactions and data sharing. It can be traded on decentralized exchanges and is supported by various wallets, including Trust Wallet.

How is Wrapped Fantom used?

Wrapped Fantom (WFTM) is a cryptocurrency that allows users to utilize the Fantom (FTM) asset on the Ethereum blockchain. This wrapped version enables the Fantom token to be traded and used on platforms that are not native to the Fantom network, such as decentralized exchanges (DEXs) and other Ethereum-based applications.

To use WFTM, users can store it in an Ethereum wallet address, such as Metamask, and switch between different blockchain networks within the same wallet. This allows for seamless interactions with various platforms that support WFTM trading pairs.

Wrapped Fantom is traded on several exchanges, including Uniswap, Pancakeswap, and Sushiswap, among others, with various trading pairs such as WFTM/WBNB and WFTM/WETH. The token's price and market capitalization are tracked in real-time, providing users with up-to-date information for investment decisions.

How do I store Wrapped Fantom?

To store Wrapped Fantom (WFTM) tokens, you will need a Wrapped Fantom wallet. There are several options available for storing WFTM tokens. You can choose a wallet that suits your needs and follow the necessary steps to set it up and manage your WFTM tokens securely.

How to buy Wrapped Fantom?

To buy Wrapped Fantom (WFTM) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Find a reliable centralized exchange where WFTM is listed. You can refer to CoinMarketCap for a list of exchanges that support WFTM.
  2. Create an Account and Deposit Funds:

    • Register and set up an account on the chosen exchange.
    • Deposit the necessary funds (e.g., ETH, BNB) to your exchange wallet.
  3. Buy WFTM:

  • Navigate to the exchange's trading page and select WFTM as the token you want to buy.
  • Enter the amount you want to purchase and confirm the transaction.
  1. Store Your Tokens:
    • You can store your WFTM tokens on the exchange's wallet or transfer them to a personal crypto wallet like Trust Wallet.

Alternatively, you can use a Decentralized Exchange (DEX) to buy WFTM:

  1. Set Up a Crypto Wallet:

    • Download and install a Web3 wallet like Trust Wallet, which supports the Fantom network.
  2. Buy FTM:

    • Purchase FTM tokens on a centralized exchange like Binance.
  3. Transfer FTM to Your Wallet:

  • Withdraw the FTM tokens to your personal crypto wallet.
  1. Connect to a DEX:

    • Choose a DEX that supports the Fantom network and connect your wallet to it.
  2. Swap FTM for WFTM:

    • Select FTM as the payment and WFTM as the token you want to acquire.
    • Enter the amount you want to swap and confirm the transaction.

Remember to always be cautious of scams and ensure you are using the official contract address for WFTM.

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History of Wrapped Fantom

Wrapped Fantom (WFTM) is a cryptocurrency token that is part of the Fantom ecosystem. Fantom is a decentralized platform that aims to solve scalability issues in public distributed ledger technologies. It uses a Directed Acyclic Graph (DAG) based smart contract platform, which is designed to provide fast and low-cost transactions. The platform employs the "Lachesis Protocol" to maintain consensus, allowing for instant transactions and near-zero transaction costs.

Wrapped Fantom is a token that represents the Fantom network on other blockchain platforms. It is designed to facilitate the integration of Fantom's technology with other blockchain ecosystems. The token's primary purpose is to enable users to interact with the Fantom network from other platforms, thereby increasing the network's interoperability and adoption.

The history of Wrapped Fantom is closely tied to the development of the Fantom ecosystem. Fantom was created to address the limitations of traditional blockchain platforms, focusing on speed, scalability, and cost-effectiveness. The Wrapped Fantom token was introduced as a means to bridge the Fantom network with other blockchain platforms, enhancing its usability and accessibility.

Wrapped Fantom has experienced significant price fluctuations over time. Historical data shows that the token's price has varied widely, with both significant increases and decreases. For instance, it has been reported that the token's price fell by 7.11% over a 7-day period and increased by 3.33% in a 24-hour period. The token's market capitalization and trading volume have also been subject to fluctuations, reflecting the dynamic nature of the cryptocurrency market.

Despite these fluctuations, Wrapped Fantom remains an important part of the Fantom ecosystem, enabling users to interact with the network from other blockchain platforms. Its history is marked by ongoing development and adaptation to the evolving cryptocurrency landscape.

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How Wrapped Fantom works

Wrapped Fantom (WFTM) is a cryptocurrency that allows users to interact with the Fantom network on other blockchain platforms, particularly Ethereum. Here's how it works:

Wrapped Cryptocurrencies

Wrapped cryptocurrencies are digital assets that can be used on blockchains other than their native blockchain. This allows users to access and utilize the features of different blockchain ecosystems without needing to switch between native coins. In the case of Wrapped Fantom, it enables Fantom (FTM) to be used on the Ethereum blockchain, which is not possible with the native FTM coin.

Interoperability

Wrapped Fantom (WFTM) is designed to facilitate interoperability between different blockchain networks. By wrapping the native Fantom coin, users can seamlessly interact with decentralized applications (dApps) and decentralized exchanges (DEXs) on Ethereum, which would not be possible with the native FTM coin. This interoperability enhances the usability and versatility of the Fantom network.

Smart Contracts

Wrapped Fantom operates through smart contracts, which are self-executing contracts with specific rules and conditions. These contracts ensure that the wrapped tokens are securely locked and can be redeemed for the native FTM coin when needed. This mechanism allows users to trustlessly interact with the Fantom network on other blockchain platforms.

Trading and Storage

Wrapped Fantom can be traded on decentralized exchanges like SpookySwap, Spirit Swap, and Wigoswap, which support the Ethereum blockchain. Users can store their WFTM tokens in compatible wallets like MetaMask, which allows them to view their token holdings and trade on DEXs.

Key Features
  • Wrapped Fantom (WFTM): Enables Fantom (FTM) to be used on the Ethereum blockchain.
  • Interoperability: Facilitates interaction between different blockchain networks.
  • Smart Contracts: Ensures secure and trustless interactions.
  • Trading: Can be traded on decentralized exchanges supporting Ethereum.
  • Storage: Can be stored in compatible wallets like MetaMask.

Overall, Wrapped Fantom (WFTM) expands the capabilities of the Fantom network by allowing users to access Ethereum-based dApps and DEXs, enhancing the overall usability and versatility of the Fantom ecosystem.

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Wrapped Fantom's strengths

Wrapped Fantom (WFTM) is a cryptocurrency token that represents a wrapped version of the native Fantom (FTM) token. This wrapping allows FTM to be used on other blockchains, such as Ethereum, where it can interact with DeFi smart contracts. The primary purpose of WFTM is to enable the use of FTM in decentralized finance (DeFi) applications, making it compatible with various blockchain ecosystems.

Wrapped Fantom is traded on several exchanges, including Uniswap V3, Pancakeswap V3, and SpookySwap, with various trading pairs such as WFTM/WBNB and WFTM/WETH. The token's market capitalization and trading volume are significant, indicating a moderate level of liquidity and market activity.

One of the key strengths of Wrapped Fantom is its ability to bridge the Fantom network with other blockchain ecosystems, expanding the use cases for the native FTM token. This bridging enables users to leverage the benefits of DeFi applications while still utilizing the Fantom network's native token.

Wrapped Fantom's risks

Wrapped Fantom (WFTM) carries significant financial risks due to its high volatility. It is considered a high-risk investment, making it suitable only for those with a high tolerance for risk.

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Did Wrapped Fantom raise funds?

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Wrapped Fantom's ecosystem

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Wrapped Fantom’s team

  • Team Members:
    • Fantom Foundation: The Fantom Foundation is responsible for managing and developing the Fantom ecosystem, which includes the Wrapped Fantom (WFTM) token.

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