Revenue grew by almost 40% over the last week. A new stability for the project was discussed at length, and many improvements have been made, They are therefore probably the main drivers of this last team.
Founder of the Year funds and keep3r, along with many other highly publicized projects, appears to be rolling up his sleeves and going back to work after having previously said farewell to the game (again) in march of last year and then returning in november of the same year.
It appears that he is in the process (1) of rebuilding the network's native stablecoin, fUSD. He has a long history of partnering with fantom, a fast layer 1 blockchain, and holds the titles of co-founder and engineer of the fantom foundation.
The dollar-locked currency is currently in a precarious position, trading at $0.86 but bottoming out at $0.22 in November.
The mechanisms behind the token, that enabled users to hit the stablecoin using an oversized amount of the native ftm phantom token, collapsed and was mostly trapped in this condition since the community has little faith in Fusd's ability to be resuscitated.
The value of the token has fallen by approximately 3% over the past 24 hours. Always, this version will soon be abandoned, so it's no big deal.
The process of merging this deceased stablecoin (v1) with a completely new and revitalised (v2) is not too complicated: Any open position in which the stablecoin value is equal to or greater than the staked MTF or MTF (sFTM) supporting this stablecoin should be settled.
Fabtom starts another round.
And reviving an indigenous ecosystem is beneficial for a variety of reasons, including paying developers and feeding an indigenous ecosystem for indigenous challenge. Despite this, their resilience to volatility remains a key sales argument for companies trying to grow on blockchains.
This year, fantom has some tricks in his sleeve, including the revival of a stablecoin. But there's more to the story.
If we look even further back, the price is up 226% since January 1.
The accumulation really started at the beginning of the year, and this could be related to a wave of updates and the general enthusiasm of Fantom and Cronje about what is happening with the process.
For instance, fantom has put in place an intriguing system whereby 15% of the gas prices on a network are also delivered to the developers of the individual contract. It's designed to reward them for the work they do. If you create a helpful decentralized application (dapp) on fantom and others use it, you may qualify for additional rewards.
According to Cronje, blockchain will also provide gas subsidies mid-way this year. These grants would allow users to move to Fantom without owning MTF, the indigenous currency of the network.