Fantom community co-founder André Cronje stated the multi-chain debacle was a “big blow” to the sensible contract platform, which has seen a pointy drop in exercise over the previous few weeks.

in keeping with Fantom’s Whole Lock Worth (TVL) fell from over $364 million in early Might to about $70 million on July 14, in keeping with DefiLlama information. At its peak in 2022, Fantom’s TVL exceeded $7.5 billion.of worth Native token Fantom (FTM), down from $0.41 to $0.28 over the identical interval.

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