In a recent move, holders of Filecoin (FIL) and Fantom (FTM) have swapped their tokens for Orbeon Protocol (ORBN), which is in phase 1 of its presale. Let’s take a look at what this new project is all about and what it could mean for the future of the crypto industry.
Orbeon Protocol (ORBN)
Blockchain is quickly becoming the go-to infrastructure for powering the new digital economy. One sector that is ripe for disruption is the $13.5B crowdfunding industry, which is currently centralized and opaque. Orbeon Protocol is a decentralized platform that enables trustless, permissionless crowdfunding on the Ethereum blockchain.
Startups can now raise funds directly from the community without having to go through traditional VCs or crowdfunding platforms. For investors, Orbeon Protocol (ORBN) provides a transparent and secure way to invest in early-stage projects.
All of this is made possible with the use of equity-based NFTs, which are tokens that represent an ownership stake in a company. When a project is funded on Orbeon Protocol (ORBN), investors receive equity-based NFTs that can be traded, sold, or held onto for future appreciation.
The ORBN token powers the whole ecosystem and gives holders many benefits:
- The ability to stake for rewards
- Governance rights
- Discounts for trading fees
- First access to the best funding rounds
- Exclusive access to investor groups
With so much utility and potential, it’s no wonder that holders of Filecoin (FIL) and Fantom (FTM) have decided to swap their tokens for Orbeon Protocol (ORBN), which has already sold 147,674,420 of the 177,600,000 ORBN available during phase 1 of the presale.
Filecoin (FIL) is a decentralized storage network that turns cloud storage into an algorithmic market. The blockchain records storage deals and tracks the associated payments, eliminating the need for a central trusted third party.
The FIL token is the native cryptocurrency of the Filecoin network and is used to pay for storing data. Users can store app data, NFTs, company files, security achieves, personal media files, and so much more.
This revolutionary project is already being used by a number of partners, including Polygon and Chainlink. However, the price of Filecoin (FIL) has been on a steady decline since its all-time high in April 2021. Could the recent swap to ORBN be a sign that holders are losing faith in the project?
Fantom (FTM) is a DAG-based smart contract platform that is scalable, lightweight, and secure. Unlike blockchain-based platforms, Fantom does not suffer from the same scalability issues. This makes it ideal for building large-scale decentralized applications (dApps).
The platform uses Lachesis consensus algorithm that provides near-instant transaction speeds, which makes it ideal for high-frequency use cases, such as payments and e-commerce. In fact, transactions typically take just one second to process.
With obvious benefits over blockchains, Fantom (FTM) is working with a number of projects, including Poof Pay and RampNetwork. However, with the price down a massive 93.90% from October 2021, holders are getting restless.
Find Out More About The Orbeon Protocol Presale
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.