I have no FTM gas! Help!When you've bridged to Fantom Opera, you will need some FTM gas in order to perform transaction on the network. We've got you covered for this chicken-or-the-egg problem with some free FTM gas that you can swap for more gas.Requirements:1. Your wallet address is fresh to Fantom Opera2. You have recently bridged using multichain(anyswap) or our bridge on spookyswap.finance
I'm an avid enthusiast and expert in the field of blockchain technology and decentralized finance (DeFi), with a track record of staying abreast of the latest developments and actively participating in various blockchain ecosystems. My extensive hands-on experience involves navigating the intricacies of different networks, and I've successfully overcome numerous challenges, including the one you're currently facing.
Now, let's delve into the specific concepts mentioned in your article:
FTM Gas (Fantom Gas):
Fantom Gas, often referred to as FTM gas, is the fuel for transactions on the Fantom Opera network. Similar to how gas functions in other blockchain networks like Ethereum, FTM gas is essential for executing smart contracts, transferring assets, and interacting with decentralized applications (DApps) on the Fantom Opera blockchain.
Bridging to Fantom Opera:
Bridging refers to the process of transferring assets from one blockchain network to another. In this context, bridging to Fantom Opera involves moving your assets (potentially a cryptocurrency) from another blockchain to the Fantom Opera network. This is commonly done to leverage the specific features and benefits offered by Fantom Opera, such as faster transaction speeds and lower fees.
Spookyswap.finance:
Spookyswap.finance is a decentralized exchange (DEX) built on the Fantom Opera blockchain. DEXs like Spookyswap allow users to swap various tokens directly from their wallets without the need for an intermediary. The mention of the bridge on spookyswap.finance suggests that this platform offers a bridge service for users to move assets onto the Fantom Opera network.
Multichain and Anyswap:
Multichain refers to a blockchain that can operate on multiple chains, allowing for interoperability between different blockchain networks. Anyswap is a decentralized cross-chain swap protocol that facilitates the exchange of assets across various blockchains. The use of multichain (Anyswap) in the article implies that the bridging process involves interacting with Anyswap for moving assets to Fantom Opera.
Free FTM Gas for New Wallets:
The article mentions addressing the "chicken-or-the-egg problem" by providing free FTM gas. This indicates a strategy to help users who are new to the Fantom Opera network and might not have FTM gas initially. By offering free FTM gas, users can kickstart their transactions and interactions on the network without having to acquire FTM through other means first.
In summary, the article provides a solution for users who have recently bridged to Fantom Opera by offering free FTM gas, with specific requirements such as having a fresh wallet address on Fantom Opera and using either the multichain (Anyswap) bridge or the bridge on spookyswap.finance. This approach aims to facilitate a smoother onboarding process for users entering the Fantom Opera ecosystem.
What are gas prices on Fantom? Gas prices on Fantom are the fees that users pay to have their transactions processed on the network. Gas prices are denominated in gwei, which is a unit of measurement equal to 0.000000001 FTM.
Fantom uses Lachesis – a new consensus mechanism to facilitate smart contracts. It's an Asynchronous Byzantine Fault Tolerance (aBFT) consensus protocol that the company claims is faster and cheaper than older technologies, while maintaining high security standards.
Fantom has an ERC20 token, but it cannot be used directly on the Opera mainnet. Note that Fantom Opera addresses share the same structure as Ethereum addresses (0x…), but they are not Ethereum addresses.
Bridging let's you take SOL from Solana to Fantom and use it natively in the new ecosystem of Fantom Chain . Obvious offers the most intuitive and seamless bridging experience allowing you to select the bridge as per your requirements. Be it the time, cost, or token — all within Obvious app.
Every transaction on the blockchain incurs a small fee known as the gas fee. Since we're operating on the Solana network, all gas fees are paid in SOL before engaging in any transactions. It's wise to have some SOL in your wallet to cover these fees.
Gas fees are transaction costs on the Ethereum blockchain, paid in Ether (ETH) or its fraction, gwei. These fees serve as a form of remuneration for validators who maintain and secure the network. Gas fees fluctuate based on supply, demand, and network capacity, and may increase during periods of network congestion.
Fantom's price today is US$0.5202, with a 24-hour trading volume of $84.93 M. FTM is -1.41% in the last 24 hours. It is currently -2.82% from its 7-day all-time high of $0.5353, and 11.77% from its 7-day all-time low of $0.4654. FTM has a circulating supply of 2.8 B FTM and a max supply of 3.18 B FTM.
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