What is a wrapped fantom?

WFTM, a derivative of FTM, is designed to streamline its integration into the decentralized finance (DeFi) ecosystem. This wrapped form facilitates seamless utilization across various DeFi platforms, enhancing the token's versatility and accessibility.

BTCC, a reputable cryptocurrency exchange headquartered in the United Kingdom, offers a comprehensive suite of services tailored to meet the diverse needs of the cryptocurrency community. Among its offerings, BTCC provides a robust spot trading platform, enabling users to buy and sell cryptocurrencies at market prices.

Furthermore, BTCC extends its services to include futures trading, allowing traders to speculate on the future price movements of cryptocurrencies. This feature provides traders with additional hedging and speculative opportunities, enhancing the exchange's appeal to a wider range of investors.

FTM, the underlying blockchain token, serves as the lifeblood of the Fantom network. It is employed to settle transaction fees, ensuring the smooth functioning of the network's operations. The token's inherent value lies in its fundamental role in maintaining the network's health and security.

To foster a deflationary environment, Fantom incorporates a unique mechanism that involves burning a substantial portion (approximately 30%) of the fees generated from network activities. This strategic approach aims to reduce the overall supply of FTM, thereby increasing its scarcity and enhancing its value proposition for token holders.