Fantom price gains 100 percent after launching a 370M FTM incentive program

Fantom Gained a massive volume and again the Ethereum network continued its being top smart contract platform in this blockchain industry.

Fantom price gains 100 percent after launching a 370M FTM incentive program

Fantom, A layer one smart contract platform which utilizes a directed acyclic graph architecture as a means to solve the problem of slow transaction speeds and high transaction fees.

On the July 20 as we have data from the cointelegraph markets pro and tradingview Fantom was hit the low of $0.15 and then now it touched high of $0.90 on Monday as its 24 hour trading volume exploded by 1250% to a record $1.26 billion in an intraday high.

Three reasons for the surging momentum in Fantom include the launch of a 370 million FTM incentive program, a significant growth in social media engagement and the continued increase in the amount of value locked on the protocol.

Fantom launched a 370 million FTM incentive program which is a significant growth in social media engagement and the continued increase in the amount of value locked on the protocol.

The biggest momentum boost for Fantom came on Monday with the announcement of a 370 million FTM — $320 million — incentive program, designed to attract new protocols and liquidity to the Fantom ecosystem.

Under the program, developers who launch on the Fantom network will be able to apply for rewards from the Fantom Foundation and will receive between 1 million to 5 million FTM depending on the total value locked (TVL) in the protocol in question.

In order to qualify for rewards, a protocol must maintain a TVL above a time-weighted average (TWA) of $5,000,000 or $100,000,000 for an extended period of time. If the TWA falls below the $5,000,000 minimum at any point, reward distribution will be paused until the TVL once again reaches the required minimum.

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