Fantom Gets Added $15M Investment From HyperChain Capital

In addition to investing in Fantom financially, Hyperchain Capital is involved in securing the network through a subsidiary that runs validator nodes on Fantom.

AccessTimeIconApr 27, 2021 at 8:27 p.m. UTC
Updated Sep 14, 2021 at 12:47 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

HyperChain Capital, a digital assets management company, said it bought an added $15 million stake in the Fantom ecosystem through the purchase of FTM, the platform's native token. 

  • The investment by the firm, which focuses on blockchain products and decentralized protocols, is on top of the $2.5 million investment it made in Fantom in 2018, Fantom said in a blog post.
  • In addition to investing in Fantom financially, Hyperchain Capital said it's involved in securing the network through a subsidiary that runs validator nodes on Fantom.
  • The Fantom Foundation, founded in 2018, is building a scalable blockchain ecosystem designed to facilitate decentralized, scalable, and secure applications. 
  • Fantom was built to be a kind of "load balancer" to the popular Ethereum blockchain. Due to heavy traffic, Ethereum can be plagued by congestion and high transaction fees. Fantom is designed to act as a bypass around that congestion, allowing for faster, cheaper transactions. Fantom literature says the blockchain has 1-second transaction speeds and near-zero fees.
  • The price of FTM is at 50 cents, up more than 29% in the last 24 hours.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about