Today, we are pleased to announce the deployment of the Revest Protocol to the Fantom Opera network! Fantom has come into its own lately as a highly efficient platform for NFTs and associated developments, and Revest is excited to offer FNFTs to the multitude of new projects launching on Fantom. New projects launching on Fantom can now take advantage of the most efficient and dynamic token locking service available, along with the multitude of locks that Revest offers.
What you can do on Fantom
You are now able to mint FNFTs on the Fantom Opera network. To use Fantom, you will first need some FTM tokens, which may be acquired from Uniswap or the automated market-maker (AMM) of your choice. Unless you are already active on Fantom, you will need to bridge your FTM tokens from the Ethereum mainnet to Fantom Opera itself. Once you have completed this step, you will need to configure your wallet. Suggested resources on this may be found here.
Once your tokens are on Fantom, you will be ready to use the Revest Protocol to mint FNFTs on this network. Simply change the active network in your web wallet, reload your browser (if necessary), and an icon in the upper right-hand corner of the Revest Web-App will indicate that you are now connected to Fantom Opera. Happy minting!
Fees, Staking, and the RVST Token
Although the Revest Protocol is now live on Fantom, the Revest token ($RVST) and the Revest Staking System remain on the Ethereum blockchain. However, we are taking advantage of our deployment on the Fantom Opera blockchain to rollout an early version of our fee engine to gauge the effectiveness of fee mechanics. For the time being, we will charge a flat fee of 5 FTM tokens to mint an FNFT on Fantom.
Example: If you were to lock 1,000 ERC-20 tokens on Polygon, the fee would be 5 FTM tokens. The same for 100,000 ERC-20 tokens.
All fees generated in this manner will be bridged back to the Ethereum blockchain on a regular basis, converted to ETH, and distributed to Revest stakers. We’re excited to see how our offerings on Fantom develop further into the future.