Fathom Dapp
Blockchain has been facing liquidity shortages, but Fathom Protocol on the XDC Network is offering potent solutions. It aims to increase cryptocurrency liquidity in DEFI, tokenize real-world assets, and promote innovative DEFI investments. Recently, Fathom Protocol onboarded Zoth, an onchain marketplace, and successfully completed two pilots for Supply Chain Financing using $FXD, a stablecoin issued by Fathom Protocol. The stablecoin aims to address a $5 trillion gap in the trade finance sector.
During an interview, the co-founders of Fathom Protocol discussed the stablecoin’s design, stable swap model, and adjusted borrowing rates. They also explained the process of minting FXD and the benefits of holding the stablecoin.
Fathom Protocol will play a significant role in the RWAs sector by providing users with yield opportunities through Trade Finance Pools and RWA Vaults. It has successfully onboarded InvoiceMate, a project pioneering blockchain-based invoicing, showcasing the potential of acquiring liquidity through tokenization of Real World Assets.
The team is working on compliance requirements and oversight for FXD to grow into a compliant stablecoin. They also plan to implement jurisdiction-wise DAOs and involve the community in decision-making. The main mission is to amplify liquidity by bringing more staking providers, off-ramps, brokers, exchanges, and custodials to the Fathom Protocol.
Conclusion
Fathom Protocol has made several implementations to ensure low transaction fees, stability of the FXD token, and high liquidity. The platform’s focus on DAO governance and democratization of decision-making is proof of the team’s respect for Web3 ethos and community involvement. Keep watching the space for more updates and developments taking place in the ecosystem.
Market footprint
FTHM coins are trading at $0.20 USD, while FXD maintains a soft peg to the U.S. dollar, consistently trading at 1 USD. Both tokens are actively available on Fathom DEX, Bittrue, and XSwap exchange.
2024-03-14 03:00:04
Original from www.ibtimes.com