Andre Cronje, the Director of the Fantom Foundation announced Fantom’s plans to migrate its fUSD stablecoin to a more predictable and budget-friendly system with the launch of fUSD version 2.
V2 will allow Fantom’s builders, users, and developers to allocate fees in either fantom (FTM) or fUSD and predict future costs based on usage.
In order to implement the updated fUSD, version 1 of fUSD will go through liquidations. Any positions where the fUSD debt is equal to or greater than the FTM or sFTM backing will be liquidated.
If the backing is in sFTM, the stake will be immediately unstaked, and all rewards claimed. In the case of a validator, if the minimum stake is not met, the validator will not be able to produce blocks or receive rewards.
Fantom’s developers are confident that v2 will help create a more consistent system for planning and budgeting, and allow for the creation of additional institutional products. While the timeline of the launch hasn’t been disclosed, the added predictability and affordability will certainly help the platform.
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