The founder of the DeFi sector told how Fantom will develop

Andre Cronje, who founded the Yearn Finance project, which launched the decentralized platform sector, showed the development plan for Fantom on his Medium blog.

One of the first goals that they want to implement on their platform, the developers of the Fantom blockchain set the monetization of the commissions of decentralized applications developers. As planned by the Fantom Foundation, the monetization system will be similar to what we can see on YouTube and Twitch.

Recently, we talked about how such dApps are gaining more and more popularity, and decentralized applications take the second place in popularity among all applications, second only to NFT games.

Another goal that the Fantom Foundation set for itself was to rid users of paying fees in FTM tokens by giving users various alternatives.

According to Andre Cronje, Fantom wants to scale and expand on how standard features work. In addition, Cronje declares a desire to make it easier to create decentralized applications. To do this, the Fantom Foundation will try to make more sustainable business models for the implementation of dApps that will not be based on the use of tokens.

The developers have not yet told how exactly they are going to improve the marketing strategy and what exactly they mean by “making business models more sustainable”. They are going to show plans for their next steps before the end of the first quarter of 2023.

After such a statement, FTM almost did not react to Andre Cronje's statement.

Fantom software developer Anthony Nell announced in March 2022 that Nell would stop making contributions to the decentralized finance sector. He did this against the backdrop of criticism that followed from experts in the cryptocurrency world towards the founder of Yearn Finance. At that time, a new project from Andrea Cronje showed an insufficient level of security, and this, according to crypto enthusiasts, led to the fact that users' money disappeared from liquidity pools.

The Fantom Foundation has been repeatedly criticized for some actions and did not find understanding among users who are not indifferent to the world of cryptocurrencies.

Last September, Fantom announced a collaboration with the Central Bank of Tajikistan and announced that they would help the latter create a state digital currency. After that, the Central Bank issued a statement that it was not going to cooperate with the developers of the Fantom blockchain and, in principle, they did not plan to develop their own digital currency.

Another unpleasant story happened 3 months after the incident with the National Bank of Tajikistan. At the beginning of 2022, the management of DataDAO, made on the basis of the Fantom blockchain, withdrew about $100,000 of client funds. At that moment, an exploit was discovered in the smart contract code.

The experts learned that there are functions in the code that are responsible for withdrawing all the liquidity of the smart contract through an address that belongs to the developer. Thus, the creators of the project on the Fantom blockchain could easily withdraw client funds and receive money in a dishonest way.

Immediately after that, analysts from PeckShield alerted users to the problem and advised them to disable their wallet sync with DataDAO in order to prevent crypto funds from being stolen. Thus, the bad reputation of the project affected the opinion of people about the Fantom Foundation.