Fantom Aims To Attract Memecoin Traders, Reserves $6.5M FTM: Report
- Fantom Foundation intends to become a part of the vast $50 billion memecoin sector.
- The blockchain plans to attract memecoin traders by reserving $6.5 million worth of FTM tokens for developers.
- CEO Michael Kong asserts that Fantom intends to provide a safe memecoin space with a democratic token distribution to the community.
Fantom, a Layer 1 blockchain network, has initiated establishing a “safer memecoin” space to become part of the vast $50 billion memecoin sector. The blockchain network plans to reserve $6.5 million worth of its native token, FTM, as a reward for developers.
Michael Kong, the CEO of Fantom Foundation, hinted at the platform’s efforts to create a friendly environment where the community can launch safer memecoins. Kong also highlighted Fantom’s adherence to security and privacy as it plans to introduce technical and non-technical measures to block rugs and scams.
CoinMarketCap, a prominent crypto data aggregator, shared an X post, unveiling Fantom’s initiative. The aggregator wrote, “In a bid to tap into the booming $50 billion memecoin sector, Fantom, a layer-1 blockchain network, is taking steps to establish a safer envir…
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