ETC Labs and Fantom Foundation are collaborating to bring decentralized finance (DeFi) to Fantom’s ecosystem, a Feb. 10 press release announced. (ETC) will serve as collateral for issuing a stablecoin similar to Maker’s DAI on the Fantom platform.
Fantom will be using the Xar Network, a DeFi framework specifically developed for the project. The framework uses some of Fantom’s Byzantine Fault Tolerant (BFT) consensus technologies, such as Lachesis and TxFlow, to offer a blockchain environment that supports advanced DeFi options. The system allows collateralized loans, synthetic assets, atomic swaps and is interoperable with external blockchains such as and Binance Chain.
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