Smart contract platform Fantom climbed to third place in the DeFi rankings on January 22-23, overtaking Binance Smart Chain platform in terms of value locked (TVL).
The total locked value of the Fantom smart contract platform reached $11.73 billion across 129 projects, DefiLlama data says.
The largest project in Fantom is the Multichain cross-chain swap — the value of its assets in smart contracts amounted to $6.97 billion. The relatively young project 0xDAO comes next — $3.91 billion. Then comes the decentralized exchange SpookySwap with just over $1 billion.
BSC has become the fourth largest DeFi ecosystem with a fixed value of $11.36 across 294 projects. The first place is still for Ethereum — $111.57 billion in 415 projects.
The main feature of Fantom is that a transaction on this network requires only one confirmation. The Bitcoin network, by comparison, requires six confirmations, while Ethereum needs 12. This is partly why FTM tokens have become in demand among investors in recent months.
Last October, Fantom Network announced that users of the Nansen platform will have access to the analytics and capabilities of the Fantom Network.
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