BlocksInform
- Fusd v2 will allow a system of costs in chain and will help to unblock fantom to foster institutional adoption.
- Migration to merged version 2 will enable a predictable and cost-effective online fee system to be implemented.
- MTF positions will be liquidated, although there will be ample time for users to sort through these scenarios.
Layer-1 blockchain platform Fantom plans to migrate from fUSD version 1 to fUSD version.
The Fantom Foundation said in a blog announcement on 29 January that the stablecoin migration is a key goal as the developer team seeks to make the scalable next-gen blockchain more predictable and cost-effective for builders, partners and users.
Fusd v2 will see users fantom allocate charges in native ftm or fusd, which facilitates the prediction of future costs depending on network usage.
The Fantom Foundation said in an ad on a blog on January 29 that stable migration is a key objective as the team of developers seeks to make the next generation scalable blockchain more predictable and profitable for manufacturers, stakeholders and users.
FTM liquidations ahead of v2 launch
Fantom supports the use of FTM and fUSD in decentralised finance (DeFi), with users able to access services such as lending and borrowing. It’s for this reason that the Fantom Foundation has highlighted potential liquidations as migration from fUSD v1 begins.
For this reason, the fantom foundation has identified potential liquidations as the Fusd v1 migration begins. https://t.co/vj4UAagaoX
— Andre Cronje (@AndreCronjeTech) January 29, 2023
USD migration & liquidations Https://t. co/vj4uaagaox— andre cronje (@andrecronjetech29 Jan, 2023the liquidations, croni stressed, will occur in scenarios where the merged debt equals or exceeds the staked MTF or MTF that supports it.
In case of sftm, fantom says that the stake will be picked up right away, with all the rewards of it claimed.
The same cause of action will be taken against validators with less than the minimum bet, with that group incapable of producing blocks or claiming block rewards. Timeline for release of v2 was not provided.
Fantom will help users as they seek to close positions ahead of launch.
