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Fantom Gets Added $15M Investment From HyperChain Capital
In addition to investing in Fantom financially, Hyperchain Capital is involved in securing the network through a subsidiary that runs validator nodes on Fantom.
HyperChain Capital, a digital assets management company, said it bought an added $15 million stake in the Fantom ecosystem through the purchase of FTM, the platform's native token.
STORY CONTINUES BELOW
- The investment by the firm, which focuses on blockchain products and decentralized protocols, is on top of the $2.5 million investment it made in Fantom in 2018, Fantom said in a blog post.
- In addition to investing in Fantom financially, Hyperchain Capital said it's involved in securing the network through a subsidiary that runs validator nodes on Fantom.
- The Fantom Foundation, founded in 2018, is building a scalable blockchain ecosystem designed to facilitate decentralized, scalable, and secure applications.
- Fantom was built to be a kind of "load balancer" to the popular Ethereum blockchain. Due to heavy traffic, Ethereum can be plagued by congestion and high transaction fees. Fantom is designed to act as a bypass around that congestion, allowing for faster, cheaper transactions. Fantom literature says the blockchain has 1-second transaction speeds and near-zero fees.
- The price of FTM is at 50 cents, up more than 29% in the last 24 hours.
Read more: SushiSwap, Fleeing Ethereum Fees, Is Now Live on Binance Smart Chain, Fantom, Others
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
