The Fantom Foundation has today unveiled plans for a native cryptocurrency exchange for Fantom tokens fully powered by Binance Cloud.
According to marketing materials provided at the conference, the exchange will enable “better limit orders” for a number of Fantom-native assets, “deeper liquidity” and the use of ‘high-frequency trading’ (HFT) and bots for a better trading experience.
Launching in Q4 2021, the exchange is set to be powered by Binance Cloud, a Binance product that can “build your crypto business in minutes” and leverage the market-leading technology provided by the exchange.
Binance Cloud will allow deeper liquidity, better limit orders, HFT and bots. pic.twitter.com/8Vy7u617WN
— Fantom Foundation (@FantomFDN) October 28, 2021
It’s assumed that the exchange will function like any standalone exchange platform but will only offer Fantom-based tokens. It’s also rumoured that the upcoming exchange may offer FIAT support for purchases.
“We are leveraging Binance cloud and creating a cryptocurrency exchange only for $ftm based projects. This enables massive liquidity for all fantom tokens,” Yeh said at the event.
The Fantom Foundation has previously shown great support to its developers via a $314m incentive program designed to “aid protocol teams in their developments on Fantom”.
All-time highs across the board
Coinciding with the conference, Fantom has recently reached a new all-time high of $3.48 and has seen incredible market strength due to peaked interest in fast, scalable Layer-1 blockchains.
According to data from DefiLlama, Fantom now secures $5.75b in TVL across its ecosystem following a 26% increase in the past 7 days.
The Fantom Foundation also revealed that Fantom has now registered 1m unique addresses across its entire ecosystem.
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