To claim your rewards you must pay back your loan
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I owe abt 20k fUSD that’s not in my wallet. Didn’t think I would ever be forced to pay it back and figured I’d use my minting rewards/staking to pay it back eventually.
(I have much more fUSD still in my wallet but not repayed yet as it still wouldn’t get me to the green c-ratio so haven’t bothered yet)
But now I’m locked out of my rewards…so can’t claim to wallet to repay or make trades with to repay later. So here are my questions… . I read through your post and either couldn’t understand the answer you gave so have tried to word these to help me understand
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Will there be a point where I can claim my rewards to assist in getting fUSD to repay my minted fUSD?
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Will there be a way to use my delegated FTM (that I’m locked out of due to oweing sFTM) in order to purchase the needed fUSD (when it is available).
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If I’m unable to come up with the ~14kUSD to pay back the fUSD I need in my wallet to completely pay back the fUSD I minted do I lose everything via the liquidation? Ie: the fUSD I have, the sFTM I owe, the FTM I have delegated? … or would this option just leave me with the fUSD I did not pay back?
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I see a variety of Fantom Domain services, and it is VERY unclear of which one is legitimate, I think I speak the community when I ask, will any of these projects be integrated with FTMScan? I have been using Fantom since March 2021, and would love to see a .ftm integrated with FTMScan! Any future plans with that? Thank you! 
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Hi, as we’ve previously announced we are busy decommissioning fUSD, as such, you would need to settle your fUSD debt, then burn your sFTM before you can claim / relock / unlock your stake.
- Until this debt is settled, you can’t claim rewards, relock rewards, or unlock / undelegate your stake.
- No, you must first repay the fUSD debt, burn the sFTM, and then you can use the staked FTM again
- If your backing (dollar value of sFTM) is currently less than your outstanding fUSD debt, then when liquidations activate you will lose this take, correct.
We will give ample time and announcement before liquidations are active, so please be sure to follow the Fantom blog and official twitter and/or telegram for updates.
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Unfortunately, neither the domain name services, nor ftmscan are in the foundations control. This is not for us to decide, to my knowledge of the teams have been discussing with ftmscan, but I am not privy to those conversations.
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Hi Andre,
Very pleased to see you back in the space, and really sorry to hear the struggles you went through last year.
You’ve always struck me as a guy who has taken a lot of personal responsibility onto his shoulders, which seems a double-edged sword, especially in this industry. On the plus side it’s what has born all the cool, first-of-their-kind ideas and builds, but on the downside it’s the part that can leave people feeling isolated, alone, and backed into a corner.
This thread contains a lot of encouragement and positive input. I hope it’s helped you realize that through all the noise, there are still a lot of folks in this space that see you & respect you for all the cool shit you’ve created and achieved
Thanks for the transparency and honesty that you’ve shown in answering these questions, I’m sure it will help others learn, and hopefully, it helps you a lot too
Good luck with everything, Fantom Foundation is lucky to have you.
My question relates to an aspect of Solidly that you had previously mentioned you were working on, a new curve for forex trading. I haven’t seen any of the Solidly forks adopt anything like this so far. How would this curve of differed to account for the volatility of Forex assets?
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The TWAR allows you to do concentrated liquidity that can self-adjust based on itself. Conceptually the Stable AMM curve in Solidly (x3y+y3x) is a simplified (and easier to implement on comprehend) version of Curve’s stableswap. Curve v2 pools are self-referential based on their deviation to their oracle, this again is a simplified version of that, but with the added bonus of highly concentrated liquidity.
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Hey Andre,
thanks for the deep reply, I am glad to know you are on the up, every day is a learning experience and a chance to grow. Keep up the positive work.
Just another question if you don’t mind.
Blockchain development is currently feels like a male dominated sector. How do you think we could encourage more women to get into blockchain coding and develop dapps, and would you ever consider the Foundation actively incentivising female led projects through a separate grant scheme?
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Hi Andre, many thanks for this AMA. I am part of the Fantom family now for almost 4 years, mainly because of you.
I have a question about the Fantom Virtual Machine (FVM). You were saying that “FVM is a competitive advantage we would like to secure”.
Will it be possible for other layer 1 crypto projects to clone the FVM so they can use it for their own projects?
Are you trying to prevent this from happening (or is this even possible)?
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No different than any tech based industry. I don’t think it favors males over females, so I don’t see a need to create an advantage or disadvantage to either.
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Other projects can clone / copy / take advantage of our breakthroughs, for that reason we are patenting our solution. This is against our ethos, but sadly, we need to maintain our advantages, and historically, quite often our innovation gets copied, so its unfortunately just the nature of the businesses.
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I was hoping you would do something like that (i.e. patenting). You are right, we need to maintain our advantages.
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Thank you for responding. I have follow ups because some of it I don’t understand.
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What do you mean by ‘take’ in question 3?
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So what happens if my sFTM is worth more than what I have not repayed?
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Will there be a way to purchase sFTM to return to the validators after liquidation to receive my staked FTM?
Of other note if I was able to access my rewards I’ve earned I could pretty easily convert to fUSD and pay the amount I owe back…
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Hi again,
- At what time frame, we may see a simpler hardware requirement to set a validator up ?
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- You will lose all the FTM backing it
- If FTM $ value is > fUSD debt no liquidation will occur, when you pay back the debt you can claim it again
- sFTM is not transferable, so you can not purchase sFTM, you can only burn sFTM if you have 0 debt
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As we continue to perform engineering optimization the requirements will come lower, for now validator require very little cpu or memory but still large amount of storage, when root snapshotting is finalized then this will significantly decrease. No current planned ETA for this.
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Hi Andre,
Thank you for hosting this AMA. It is very helpful!
Unless I’m mistaken, the owner of the SFC contract is currently a EOA / single key, and has the ability to infinite mint Fantom / shut down the network. Is this correct, and what are the plans for decentralizing this control? Even a multisig would go a long way toward securing this.
Original Source (verified as best as I can via code of deployed contracts): https://twitter.com/cryptohamm/status/1581663843591544832?s=20
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During periods of high network activity or token volatility, often times the network gas prices increase greatly for a period of time to where it can cost 100 times more gwei to get a transaction through than usual. What can be done to improve network congestion? Will fruther implementation of the fvm help?
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The SFC owner is currently an EOA, the SFC however does not have any minting ability nor any ability to shut down the network, its only parameter commits, as per recent upgrades, we are slowly moving these parameters over to governance control so that an EOA is no longer required. For the interim it has just been a failsafe between what is voted on governance and what is applied. There is a current testnet version that already moves all commits to the governance layer. But to state it again, it has no minting rights or powers to shut down the network.
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This is simply the nature of bidding for blockspace. As we improve data storage / writes, adjust opcodes pricing, add fvm, add flatstorage, optimize our storage models, there will be more blockspace available, but that just increases the upper limit, not the effect, during periods of high activity network gas prices will always increase (and should increase, as this is the very design of auction based blockspace). As we improve the underlying tech stack we simply increase the upper bound for this, but not the effect itself.
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