What is Phantom？
Phantom is a cross-chain DeFi protocol for synthetic assets creation and mining, as well as NFT issuance. Phantom users can use cryptocurrencies, NFT, and other digital assets as collateral to create synthetic assets. Phantom breaks down barriers between digital currency assets and traditional assets and lowering the threshold for ordinary people to participate in diversified investment categories.
Comparing to other synthetic asset projects, there are 3 advantages of Phantom.
- 1.Phantom users can use mainstream stablecoins, crypto assets, and even NFT as collateral to generate synthetic assets, whereas other projects require project tokens as collateral, putting users at greater risk.
- 2.Phantom is a cross-chain synthetic asset protocol that provides users with more options, faster transactions, and lower fees than most protocols that only operate on Ethereum. The conflux chain version mainnet is launched on Aug 2nd, and the Ethereum and BSC chain versions, as well as cross-chain functionality, will be available soon.
- 3.Phantom supports NFT assets, while most synthetic asset products only support crypto-assets, stocks, and popular commodities; Phantom will provide a more comprehensive and in-depth solution for NFT, especially in the gaming sector.