Fan tom(b)

Fantom is a Level 1 smart-contracting platform that was established at the beginning of 2018 with the goal of providing network users with affordable, quick, and secure transactional capabilities. Fantom Foundation, a company incorporated in the Cayman Islands with continuous operations in South Korea, is in charge of creating Fantom. Dr. Ahn Byung Ik, a computer scientist, started the initiative, and Michael Kong serves as the Foundation's CEO. Building a scalable, accessible platform for the blockchain users of the future with ever-increasing demands is at the core of Fantom's aim. Both proof-of-work (PoW) and proof-of-stake (PoS) architectures have a number of drawbacks that have come to light in recent years, including energy consumption and sluggish transactions for the former and decreased security and centralization for the latter. Further innovation in distributed consensus techniques, which is essential to Fantom's USP, is required as a result.

The whole available amount of Fantom tokens has been mined prior to mainnet deployment. About 40% of these were sold to private investors over the course of three rounds; only 1% of these were made available to the general public during Fantom's crowdsale. The project crew, advisers, and founders collectively account for about 20% of the token supply. The remaining amount is therefore divided between the smaller strategic reserve and the pre-mined rewards reserve, which will start to be distributed upon the launch of the mainnet in December 2019 and will run out in the second quarter of 2022.

The Seed Round, Private Sale I, Private Sale II, and Public Sale are the terms used here to refer to the token sales rounds. The supply curve in this document reflects the fact that the vesting conditions that applied to the tokens sold to private investors have largely been satisfied. Access was only granted to a select group of participants for the first three rounds who complied with international and American legal definitions of "accredited investors."