In this medium blog we will tell you all about our expansion to the Fantom chain.
What is Fantom?
Fantom is an advanced blockchain project that provides a platform to build customized decentralized applications (DAPPs) and non-fungible tokens (NFT). Fantom is permissionless, decentralized, and open-source. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than older technologies, yet extremely secure.
🦊 How to setup a wallet on the Fantom blockchain? 🦊
Step 1. Open MetaMask
Open your MetaMask wallet by clicking the MetaMask logo at the top right of your browser.
Step 2. Go to settings
When your MetaMask wallet is open, click on the logo of your account at the top right. In the dropdown menu, click on ‘Settings’.
Step 3. Go to networks
In the settings menu, click on ‘Networks’. In this menu you will see a list of networks to which your MetaMask wallet is connected. Click on the ‘Add Networks’ button at the bottom.
Step 4. Add the network details
Enter the details of the network. The following information must be entered: Network Name, New RPC URL, ChainID, Symbol and Block Explorer URL. In order to add the Fantom network, enter the following information:
- Network Name: Fantom Opera
- New RPC Url: https://rpc.ftm.tools/
- Chain ID: 250
- Symbol: FTM
- Block Explorer URL: https://ftmscan.com/
Note that transactions on the Fantom network are paid with Fantom (FTM) tokens.
Step 5. Connect your MetaMask to the Fantom network
Before deploying your assets into DApps on Fantom, all you need to do is connect your MetaMask wallet to the Fantom network. You can do so by clicking on the current network at the top of your MetaMask wallet, then click on Fantom Opera.
🥳 Congratulations, you have successfully connected your MetaMask wallet to the Fantom network! If you have any further questions about DeFi, feel free to look around wiki.rugdoc.io.
How to get your initial Fantom?
It’s necessary to hold some Fantom on the Fantom chain to complete transaction. The gas that is uses on the Fantom network is FTM. When you set up your Metamask on the Fantom network the next step is getting these initial FTM tokens.
You can receive ample amount of gas in FTM for 10~30 transactions from the SpookySwap Official Discord. FTM gas is needed to perform transactions on the Fantom chain, just like ETH and BSC.
- your Discord account must be at least 30 days old
- you must not have used the faucet within a month
Here’s how to get some free Fantom gas directly to your Fantom wallet:
- Join the SpookySwap Discord
- Send ‘!faucet’ in the #faucet channel
- Send ‘!withdraw yourwalletaddress’ to Fantom Tip Bot in a direct message. This starts your withdraw process. For example, ‘!withdraw 0x848d47d6a68fc0ce61e234257fa7024c59d331dc’. You can find the ‘FantomTip’ bot through search or on the right side of the screen under bots.
5. Receive Confirmation. FantomTip will now send a message that it is processing your withdrawal and it will take a few.
How to bridge funds to Fantom?
You can bridge tokens from Ethereum, BSC, Arbitrum, Polygon or Avalanche to Fantom on the SpookySwap bridge.
Fantom $Pear token can’t be bridged to Polygon or BSC nor can be bridged the other way around. Fantom $PEAR can only be acquired on the Fantom network or by being eligible for airdrops from locked gardens (more info on this will follow soon). Fantom $PEAR liquidity will be added to the DEX of our newest partner; Spiritswap.
Contract address of Fantom $PEAR: https://ftmscan.com/token/0x7c10108d4b7f4bd659ee57a53b30df928244b354
🚀 Pearzap will launch on Fantom on the 11th of October at 9 AM UTC (fairlaunch) at a price of $0.50 per $PEAR. 🚀
👻 Spiritswap 👻
SpiritSwap is a decentralized exchange (DEX) on the Fantom Opera Chain. SpiritSwap’s design is based on the Uniswap constant-product automated market maker (AMM). In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps. Each swap on SpiritSwap incurs a fee, which gets distributed to liquidity providers.