What is FTM Token?

FTM is the primary token on the Fantom network. FTM is used to protect the network through participation, for governance, for payments and fees.

What is FTM used for?

Securing the network

main utility of the FTM token in Fantom is to protect the network through a proof of stake system. To participate, validation nodes must have a minimum of 3,175,000 FTM, and bettors must lock their FTM. In exchange for the service, both nodes and stakers are rewarded with rewards and epoch fees. In addition to avoiding centralization, the system is also environmentally friendly.

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Payments

FTM token is ideal for sending and receiving payments thanks to the high performance of the Fantom network, its fast completion and low fees. At Fantom, money transfers take around 1 second and cost around $ 0.0000001. Yeah that’s a bunch of leading zeros

Chain governance

FTM is necessary for chain governance. Because Fantom is a fully permissionless and leaderless decentralized ecosystem, any decision regarding the network is made through on-chain governance. With governance, stakeholders can propose and vote on changes and improvements. FTM is the governance token required to participate in the voting process.

Network fees

FTM is used for network fees, such as transaction fees and fees to implement smart contracts or to create new networks. Without a minimal barrier, the network would be an easy target for spam, ultimately hampering performance and filling the ledger with useless information. In Fantom, the fees are very cheap but enough to make it extremely expensive for a malicious actor to carry out an attack.

supply of FTM

total supply is 3,175 million FTM. re are currently 2.1 billion in circulation, while the rest is reserved for gambling rewards. If the rewards are maintained at current levels (depending on government decisions), it will take more than two years to distribute all the rewards and reach a full circulation of the total supply.

total supply is distributed in different token standards to ensure easier trading. All tokens taken together will never exceed the total limit of 3.175 billion FTM.

At the moment, FTM is available as a native token on the mainnet, as an ERC-20 token, and as a BEP-2 token.

How to buy Fantom OPERA FTM Token?

You can buy FTM on all major cryptocurrency exchanges . exchange with the highest volume and lowest slippage is Binance . You can buy FTM using BTC, ETH, USDT, or BNB.

In our case for the tutorial we are going to buy it with USDT

STEP 1 To buy FTM Token on Binance

  • Logically the first thing will be to enter Binance, if you are not registered do it here.

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Once inside Binance, we have to buy USDT, we can do it with a credit or debit card in the “Buy Crypto” section.

STEP 2 To buy FTM Token on Binance

  • Once with our USDT in Binance, we have to buy FMT token and for that we are going to go to “TRADE” to then choose “CLASSIC”.
  • Now once inside we go to the right side of the page and look for the FTM Token and select the PAR «FTM / USDT» and click on it.

STEP 3 To buy FANTOM FTM Token on Binance

  • Once inside the Classic Market and selected the FTM / USDT pair, we put the amount of USDT that we want to exchange for FTM and we give it to buy.
  • And voila, we have our Fantom Opera (FTM) Token on Binance.

Now if you want to pass them to metamask, here is the tutorial:

  • Tutorial pass FTM to metamask and add the FTM network to metamask.

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