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Fantom (FTM)

What is Fantom?​

Here are 5 key points about the Fantom Blockchain:

  • Fantom is designed to provide high throughput and low latency, capable of processing thousands of transactions via its Lachesis consensus mechanism.

  • Lachesis is an asynchronous Byzantine Fault Tolerant (aBFT) consensus algorithm that allows the network to reach consensus without needing synchronized clocks or instant communication between nodes.

  • Fantom is Ethereum Virtual Machine (EVM) compatible, allowing developers to deploy and interact with Ethereum-based smart contracts and decentralized applications (dApps) on Fantom.

  • Transactions on Fantom are significantly lower compared to other blockchain networks like Ethereum making it an attractive platform for developers and users, particularly for applications involving microtransactions, DeFi protocols, and high-frequency trading.

  • The FTM token powers the Fantom ecosystem which is used for transaction fees. FTM holders can stake tokens to secure the network and participate in on-chain governance.


Learn more about Fantom by reading the Gem Wallet Learn article:

What Is The Fantom Blockchain?

Fantom on Gem Wallet​

Gem Wallet has the following features enabled for Fantom:

Fantom on Gem Wallet Fantom Chart on Gem Wallet

What are ERC20 tokens on Fantom?​

  • ERC20 tokens on the Fantom blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Fantom ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Fantom's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Fantom incur significantly lower fees compared to those on the Ethereum network.

FTM and ERC20 tokens Sushi FTM ERC20 tokens on Gem Wallet

How to Get Fantom?​

Here are some ways to acquire some Fantom (FTM):

  • Buy Fantom (FTM) directly on the Gem Wallet app.
  • Receive FTM with the unique FTM address on the Gem Wallet app.
  • Swap ERC20 tokens to FTM. This requires that you already have FTM on your wallet to pay for fees.

Buy FTM on Gem Wallet Receive FTM on Gem Wallet

Transaction Fees on the Fantom Blockchain​

The fees on Fantom are summarized as follows:

  • Transactions on Fantom typically incur significantly lower fees compared to Ethereum's mainnet.
  • All transaction fees on Fantom are paid in FTM tokens.
  • Unlike Ethereum's mainnet, where gas fees can fluctuate dramatically based on network demand, fees on Fantom Blockchain are generally more stable and predictable.

Gas Fee when Sending FTM Gas Fee for Swaps on Fantom


You can check the current Gas fees on Fantom by going to this site, Fantom Gas Tracker.

How to Check Fantom (FTM) Balance?​

Gem Wallet app connects to the Fantom (FTM) to show the FTM balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on FTMScan.

View Address Link to FTMScan Checking Balance on FTMScan


FTMScan is the default FTM explorer of Gem Wallet. You can manually check balances and transactions by going to FTMScan and search for your FTM address.