$USDC.e is live on #Fantom 🚀 Bridge your tokens: Use the @Wormhole Portal Bridge below and select Ethereum/USDC and Fantom/USDC.e in the two boxes. ✅ Quick checklist: Verify all the details thoroughly in your wallet before confirming. It's only possible to bridge USDC from Ethereum to get USDC.e on Fantom! 📌 USDC.e contract address: 0x2F733095B80A04b38b0D10cC884524a3d09b836a Plus, look out for our upcoming guide on making the most of USDC.e 🔍 https://portalbridge.com/

Say hello to $USDC.e, our canonical stablecoin (stay tuned for bridging instructions) 🎉 USDC.e is a bridged stablecoin on @Wormhole and can be upgraded to native $USDC by @Circle. Learn what's required for this upgrade to happen on #Fantom 👇 https://t.co/xfjyVreURk

We are thrilled to introduce another angel investor joining our round! 🤝 Michael Egorov (@newmichwill) is the founder of Curve. @CurveFinance is a decentralized exchange and automated market maker designed for the efficient trading of stablecoins and other assets. Curve has committed to launch on Sonic 👏

March brought some BIG news from us: 🪙 $USDC.e as Fantom's canonical stablecoin 🚀 @MichaelFKong on the future of Fantom 🎙️ Fantom's speech at #ETHDenver ➕ And more Check out the rest of our updates in the latest #Fantom Insights newsletter 👇 https://t.co/1SBVnYFVf8

We are excited to announce that Fantom's canonical stablecoin, $USDC.e, will launch tomorrow (April 5), supported by @Circle and @Wormhole 🎉 USDC.e on Wormhole is bridged from native $USDC, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future. It will be the official, endorsed stablecoin of the #Fantom ecosystem (and all future network upgrades). This initiative reduces liquidity fragmentation, introduces stability, and provides additional on-ramps onto the ecosystem. By leveraging the Wormhole Native Token Transfers (NTT) standard, USDC.e will be available to all users and developers on Fantom: 💻 Developers: Build on bridged USDC with a contract address that will persist even if there is an upgrade to native USDC. No code change needed to support the new asset. Find the tools here: https://www.npmjs.com/package/@wormhole-foundation/wormhole-connect. 👥 Users: Store, pay, trade, borrow, and lend with bridged USDC that would automatically become native USDC should there be an upgrade. No need to swap to the new asset. 🌍 Ecosystem: Avoid the time-consuming liquidity migration process of educating and incentivizing users to move from bridged USDC to native USDC should there be an upgrade. We'll be providing liquidity for the canonical stablecoin on Wormhole, making it easy and accessible for users to bridge assets to Fantom and unifying on-chain liquidity. Should a mutual decision be made between Circle and Fantom to upgrade to native USDC, all USDC.e tokens seamlessly transition to native USDC without the need for developers to update any contract addresses or swap to the new asset.

We are excited to introduce another angel investor joining our round! 🤝 Fernando Martinelli (@fcmartinelli) is the CEO of Balancer Labs ⚖️ @Balancer is a yield-hub for DeFi liquidity with $1.25b in assets. As a decentralized AMM protocol, Balancer represents a flexible building block for programmable liquidity. Stay tuned for more 🔔

We're delighted to welcome you for drinks & canapés at our Fantom Vibe event on Apr. 9 following @MichaelFKong's talk at @ParisBlockWeek 🍸 Relax to music with River Seine views and mingle with the #Fantom team. Get your tickets now! See you in Paris 🥐 https://t.co/qgfMUmelL0

We are excited to introduce another angel investor joining our round! 🤝 Tarun Chitra (@tarunchitra) is the founder of Gauntlet Gauntlet is a financial modeling platform for blockchain and DeFi protocols, aimed at helping these projects optimize their systems plus manage risk through economic simulations. Stay tuned for more 🔔

A big welcome to the second angel investor joining our round! 🤝 Robert Leshner (@Rleshner) is the founder of Superstate and Compound 📊 @CompGovernance currently boasts $2.8b in assets. This sophisticated protocol establishes money markets where pools of assets contain algorithmically derived interest rates based on supply & demand.

Happy Easter everyone!

1/ "Exemplary 99.9% uptime. Fantom's novel solutions position it as a frontrunner in the development of decentralized networks."

@ReflexivityRes's Q1 '24 report on #Fantom covered:

🌐 Blockchain consensus
💻 Fantom technology
✅ Fantom uptime

Let's explore the report 👇

2/ 🌐 "Fantom has long been part of the L1 smart contract 'wars,' finding success with its Ethereum Virtual Machine (EVM) compatibility and novel consensus mechanism.

"[It] has remained robust and reliable over the years, whereas other L1s have not."

Since the July 2023 Multichain exploit, Fantom Foundation’s management and legal team have been working tirelessly across multiple jurisdictions to chart a path forward that enables victims to partially recover assets lost. We have an important update in this regard.

After all attempts to engage with the former directors and key personnel of the Multichain Foundation failed, Fantom Foundation filed an action against Multichain Foundation for breach of contract and fraudulent misrepresentations for losses sustained by the Foundation.

We are pleased to announce that on 30 January 2024 (effective as of 30 November 2023), the Honorable Registrar Tan Boon Heng of the General Division of the High Court of Singapore granted a default judgment ruling in the Foundation’s favor.

Over the course of the coming months, the Singapore Court will quantify the damages suffered by the Fantom Foundation. Once damages have been assessed, the Foundation will issue Multichain a Statutory Demand to pay the sum assessed by the court. Given the persistent absence of Multichain, we do not expect this to occur, at which point the Foundation will petition the court to wind up the Multichain Foundation and appoint a liquidator (equivalent to a Chapter 7 bankruptcy in the US).

Acting on behalf of all affected parties, the liquidator will possess specialized expertise in tracing and recovering assets, as well as the legal powers to claw back and recover bridge assets, assess and manage claims, and distribute any recovered funds. A liquidator will also have the court-mandated authority to act on behalf of the Multichain Foundation to assist in recovering community assets, including frozen stablecoins totaling approximately USD$65 million.

The default judgment validates Fantom’s strategy and efforts and is an important milestone in rectifying this wrong. While the current judgment relates only to Fantom Foundation’s own losses, the Foundation aims to use this legal victory to pave a path for all users to lodge their claims against Multichain and have suitably qualified experts recover and distribute assets.

For further insights into the legal process, please read:

https://blog.fantom.foundation/fantom-foundation-awarded-default-judgement-against-multichain/

(2/2) https://t.co/1w5PEI5ajU