ETC Labs and Fantom Foundation are collaborating to bring decentralized finance (DeFi) to Fantom's ecosystem, a Feb. 10 printing release appear. Ethereum Classic (ETC) will serve as collateral for issuing a stablecoin similar to Maker's DAI on the Fantom platform.

Fantom will exist using the Xar Network, a DeFi framework specifically adult for the project. The framework uses some of Fantom's Byzantine Fault Tolerant (BFT) consensus technologies, such as Lachesis and TxFlow, to offer a blockchain environment that supports advanced DeFi options. The organization allows collateralized loans, constructed avails, atomic swaps and is interoperable with external blockchains such as Ethereum and Binance Chain.

Ethereum Archetype will only role every bit collateral on the Fantom platform. The stablecoins will live on Xar Network'due south blockchain-agnostic stablecoin protocol, named Collateralized Stable Currency Tokens (CSCT).

Fantom primarily targets enterprise and governmental use cases, using ETC to mint stablecoins on permissioned networks.

The issuing entities will maintain full control over the collateral, in addition to having the power to earn interest from staking the stablecoin.

ETC is reportedly preferred over its more famous twin due to its delivery to immutability, equally information technology was born from the unwillingness to manually revert the results of a smart contract hack.

The collaboration volition gradually expand the available uses for ETC within the Fantom ecosystem. The toolkit allows for significant interoperability between different Fantom blockchains, as well every bit those on the Cosmos network.

Though Ethereum Archetype could in theory host DeFi platforms likewise, its role appears to be relegated to that of collateral asset. For at present.