Orbs and Fantom Integrate to Push the Boundaries of Web3
Gunaseelan Arunachalam Mar 11, 2022 11:20
The bridge between the major blockchain networks has set its sights on one of the new contenders to join the race for Web3, Fantom
The bridge between the major blockchain networks has set its sights on one of the new contenders to join the race for Web3, Fantom.
Ghost may be new, but it offers the best that proof-of-stake (POS) chains have to offer. Scalable, fast, and affordable, focusing primarily on hosting applications for DeFi.
Orb, a Layer 3 chain, which supports Layer 1 and 2 capabilities, making smart contracts capable of performing more sophisticated activities, has now been integrated with Fantom.
This follows integrations with Layer 1 chains, including Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Harmony.
Fantom itself is an EVM-compatible chain, which means that applications hosted on your network can see the value transferred across the entire EVM chain ecosystem. It currently hosts more than 100 Dapps and ranks fourth on the TVL network to parade with more than $12 billion blocked.
The three largest Dapps hosted on Fantom include SpookySwap, Geist Finance, and Scream, which boast $1 billion in TVL.
The token at the heart of the Fantom network, the FTM, shows strong gains in the last year.
In addition, other projects are expanding at Fantom to improve its multi-chain operability. These include popular projects like Multichain, Curve, and Beefy Binance.
The spheres themselves are growing rapidly. In the wake of its latest update, as it now offers multi-chain betting on both Ethereum and Polygon, as well as more Tier 3 applications based on its protocol, including the on-chain activity alert notification tool via l'Open DeFi Notification Protocol and the Revault Network, intelligent deposit aggregator, it collects data from hundreds of deposits and automatically optimizes investor holdings across all deposits.
The integration between Orbs and Fantom sets the stage for more Fantom-based DeFi applications to improve their protocols with Orbs L3 functionality.
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