Andre Cronje Down Mount, Announces The Increased Annual Revenue Of Fantom Projects (FTM)
JAKARTA Andre Kronje, an important actor in the decentralized finance industry (DeFi) has finally surfaced after several months of absence from the crypto world. The developer and founder of a number of leading crypto projects recently discussed the Fantom (FTM) project.
Cronje claims the Fantom blockchain project, where he became the main architect and adviser, is said to have seen an increase in annual revenues that generate more than $10 million. He also said Fantom's cash flow was positive.
In his recent post, he detailed the project finances - from 2018 until now. Based on Andre's statement, the Fantom team had assets of more than 300 million US dollars, but did not specify how much of it was in cash. "We are still increasing the scale," said Andre Kronje, quoted by Coingape.
Furthermore, he noted that Fantom's treasury was reported to consist of around 450 million FTM valued at around US$85.7 million. In addition, there are 50 million US dollars in other non-crypto assets, 100 million dollars in stablecoins and 100 million dollars in undisclosed cryptocurrencies.
Cronje conveyed this information through his blog post, when the crypto market was volatile due to the bankruptcy of FTX which triggered a domino effect in the industry. The DeFi figure appears and gives fresh air to investors who are worried about the financial condition of crypto companies.
Andre Kronje's message for Crypto Industry Actors
Not only discussing the Fantom (FTM) project, but Kronje also shared his views and messages with the public, especially those who are active in the digital asset industry. He stressed to avoid competition as it is today.
"Don't try to compete with competitors for integration, listing, partnerships. Unlike most of our competitors, the foundation has a relatively small number of FTMs," said Kronje.
Furthermore, Andre bluntly mentioned that many crypto projects he knew only made money selling their tokens. While in Fantom, they intend to take completely opposite directions.
Most of the comparable L1 (layer-1 Ethereum networks, ed) had between 50% - 80% of their token supply. At launch, Fantom had less than 3%, today we have more than 14%. We prefer to buy our tokens, we don't "sell" our tokens for a "mitrivalship"," he added.
For your information alone, Fantom is a high-scale blockchain platform for decentralized finance (DeFi), decentralized applications (dApps), and company applications. At the time of writing, data from Coingecko revealed that the FTM token was trading at a price of IDR 3,397. The price of FTM skyrocketed 18.8 percent in the last 24 hours.