Andre Cronje - infinite AMA

Is it fantom’s plan to make FTM a deflationary token?

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Hey Andre,

I’m trying to create a dune dashboard to show the Fantom Governance Proposals with more details then currently available.

Lets say, to supervise the validators, show who voted what exactly.

Unfortunately, the contract is not verified. Only the proxy is: FantomUpgradeabilityProxy | Address 0x7c3b85a71e4fce1209a81d67f1af46b5a068770e | FtmScan

Would be super cool if the real contracts are accessible easily.
Could you please forward this to the dev team?

thanks bravenoob21


Have forwarded on! Thanks Bravenoob21!


Your stance on AI and BC is generally known, so this is basically not a question - I am just posting here one interesting idea from Patrick (Dynamo DeFi), Twitter.

“The third synergy between crypto and AI is verification that images, videos, and audio are real. What happens once AI-generated videos are indistinguishable from reality? How will public figures verify that video announcements are real? They’ll use blockchain signatures.”

My point is - there probably will be some common points between AI and BC and FTM could take use of it - especially once we will be able to handle so many transactions as planned.

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Since sFTM is no longer mintable, will fUSD v2 enable it back in some way?

One of the correct ways fUSD v1 tackled this was by being a possible composability byproduct of staking FTM to secure the network.

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Hey Andre so recently I saw an article (let’s just assume it is true) that a country(Montenegro) was trying to implement CBDC’s using Ripple, now why do you see anyone wanting to use Ripple instead of Fantom/other EVM type of chains instead. To me Fantom feels way more up to the task.

And along that vein how would you see any implementation of FTM as a CBDC play out


Technically, yes, they could copy the tech, but a copy is never as good as an original, and they are always playing catchup. Can’t try to build walls in this space, it only subtracts to the greater goal. As much as we would want to “protect our island”, its about the whole, not the one.

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v2 design isn’t finalized yet, so I don’t have an answer to this. For now the focus is on finalizing the new VM and data storage system. Will revisit v2 later.


CBDC’s will very unlikely ever be on a public chain, it just doesn’t make sense. They would presumably be on “national blockchains”, since they need control systems and oversight.

And to answer why they would use Ripple, its not really about the tech, its about network, access, business development and the willingness to pay for proof of concepts.

I’ve been vocal about our lack of BD and marketing and we are trying to address it, but just because we have, in my opinion, the best stack in blockchain, doesn’t mean we automatically win.

There are great products out there that have failed because they didn’t have great marketing and inversely, there are horrid products out there that have thrives because they have great marketing.

Ideally great tech and great marketing, but often just great marketing is enough.

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Thanks for the answers Andre, I mean from the DeFi users perspective any CBDC deploying on chain sounds like it would be the dream.

Can you elaborate more on “national blockchain”, do you see that as x country creating a whole new network for themselves or something like “Sokovias blockchain - powered by Fantom”, where instead of having to create the whole infrastructure from scratch you are using already existing tech as an AWS of sorts

I certainly agree that blockchains must evolve together for better space and every chain will eventually serve a specific purpose and market :+1:.

So currently FFDN is focusing on FVM, is it safe to assume that fUSD and Account Abstraction might miss the initiate target (Q3/Q4 2023 I remember seeing it somewhere)? If it is true, how will FFDN communicate that to reduce the impact of the price action?

I personally think maybe a monthly update from FFDN on the progress will stabilize the price better, just my 2 cents.

CBDC’s won’t officially exist on public chains, they can always be bridged, but high likelihood bridges would be frozen.

And correct on national blockchains.

Nothing we do or announce is ever focused or concerned with the price. We communicate as and when required based on internal transparency practices and guidelines, whether that is good or bad. Estimates are always exactly just that, estimates, they aren’t commitments.


Hey Andre, thanks for answering all these question.

I was wondering if the liquidation of FUSD will still be on track for ~6 months since Jan.

I was also wondering what would happen to speculative bag holders of FUSD if they didn’t have a market to dump it, in the scenario where LPers pull their money out to pay back their loan or dump the token. Are there any thoughts on making the making the Dai to FUSD swap reversible where people can swap FUSD to DAI when most of the FUSD is taken out of the market?

Hey Andre,

Saw your post about the bank and that’s awesome news. My main question is, is it Fantom oriented somehow or is this a separate project from the foundation? Does this mean Fantom is ISO 20022 compliant or is on their way to be? Thanks for your reply and I look forward to hearing more about what Fantom has got cooking for FVM. I feel it’s going to outperform the others if marketing does well

On track yes. Currently no plans to create liquid markets. We simply want to close it out. fUSD’s only purpose currently will be to close out bad debt positions.

It is part of the foundation. We don’t need to be ISO 20022 compliant. FVM metrics are looking very promising, with real world data we can already achieve 25x the current throughput. We will release a new presentation on FVM and Fantom DB soon.


Awesome work! Hopefully one day you will let it in the US, completely understand the reasoning you mentioned though as the US is a pain with crypto.

good morning Andre, regarding the publication of the crypto-friendly bank, is it a traditional bank that is going to implement FTM technology? Or is it a bank that the foundation is creating? Kyc will always be needed. The visa card has announced that it is also thinking of launching products based on the crytpo