HomeAltcoinsFantom Foundation and Frax Finance's Sam Kazemian are working together.

Fantom Foundation and Frax Finance’s Sam Kazemian are working together.

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  • Fantom Foundation teams up with Frax Finance’s Sam Kazemian to help both companies grow.
  • Frax Finance promises to use money on Fantom Sonic and make their connections stronger.
  • Fantom Sonic testnet makes improvements without making big changes, which helps increase the number of transactions per second.

The Fantom Foundation and Frax Finance founder, Sam Kazemian, have joined forces in a big partnership. Kazemian is now an investor for new businesses. His knowledge and money will help Fantom grow even more. This partnership is a really important move for Fantom, making its system and technology better.

In addition to this partnership, Frax Finance has promised to use its own assets. These things will start on the first day of the Fantom Sonic technology stack. This important decision shows that Fantom and Frax Finance are getting closer. It also shows their shared promise to progress blockchain technology.

Enhancements and compatibility with Fantom Sonic

Fantom’s Fantom Sonic testnet has been in the news a lot. This means we have a new way to store information, better way to save data, and a more efficient way to make decisions together. Importantly, the upgrade does not require a big change in the software. The smart contracts and tools on Fantom Opera work well with Sonic. The technology is made to make transactions much faster, with a goal of doing over 2000 transactions per second.

The Fantom Sonic upgrade shows that the foundation is dedicated to new and big ideas. Fantom makes sure that developers and users can switch to it easily because it works well with the services they already use. The features like the Fantom Virtual Machine (FVM) and other improvements will change how the platform works.

Decentralized exchange volume surge on Fantom

Crypto Data Analyst Subin An, from Hashed, is happy about the positive trend in the Fantom ecosystem. He recently looked at it and thinks it’s doing well. But, for DeFi, the amount of trading on decentralized exchanges has been decreasing since the summer of 2020. However, things have been different in the past week. The jury is still deciding on this case, but An’s observations suggest that Fantom might have a good time in the stock market soon. Many people are interested in it, and it is getting even more attention from investors and tech fans.

SpookySwap, a trading place that doesn’t have a central location and is built on Fantom’s network, had the most trading of all other places last week, with a trading volume of $81. 8 This means that it has grown almost two and a half times. Other DEXs such as Equalizer and Beethoven_x work on Fantom and have more than double the amount of trading activity. Those numbers show that the FMSM is doing good. They are seeing more people wanting to trade and the amount of trading increasing as the DeFi market grows.

Warning: This information is not advice on buying or selling stocks.

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