Blockchain analytics platform Nansen has added the Fantom mainnet to its list of supported crypto projects, which already features Ethereum, Polygon, and Binance Smart Chain (BSC).
Headquartered in Singapore with the team distributed across the globe, Nansen went live in April 2020 and earlier this year raised $12 million in a Series A financing round led by Andreessen Horowitz (a16z).
The blockchain analytics platform offers investors and traders a network of real-time dashboards and alerts centered on specific areas in the crypto space, allowing them to discover opportunities, perform due diligence and make strategic portfolio decisions.
Fantom is a Proof-of-Stake (PoS) smart contracts platform based on Directed Acyclic Graph technology (DAG)—which is also used by IOTA and Hedera Hashgraph—and Lachesis consensus algorithm.
The latter aims to achieve asynchronous Byzantine fault tolerance (aBFT), which aims to solve the blockchain scalability trilemma, or the ability to simultaneously maintain maximum decentralization, high scalability, and security of the network.
As for Nansen adding Fantom support, Michael Kong, CEO of the Fantom Foundation, said that it greatly contributes to the network’s development as the analytics platform “will bring visibility to innovative projects on the network and amplify their successes,” while also making available “the incredible wealth of information.”
Among such innovative projects built on the Fantom network is Artion, a recently launched non-fungible token (NFT) marketplace that could compete with the likes of OpenSea. A brainchild of Yearn Finance creator Andre Cronje, who’s also Fantom’s DeFi architect, Artion offers low cost of NFT-minting, near-zero transactions fees, and instant finality.
Other major projects in the Fantom ecosystem include AnySwap, a trustless protocol designed to bridge assets issued on Layer-1 and Layer-2 platforms, as well as SpookySwap, a decentralized exchange (DEX) and DeFi Hub.
AnySwap currently dominates about 39% of the overall TVL in the network, while SpookySwap is Fantom’s first native farm and automatic market-maker (AMM).
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