Fantom is a high-performance, scalable smart contract platform that uses its own proprietary consensus algorithm to provide decentralized financial (DeFi) services to developers.The Fantom team has also created ONLAY, a novel consensus protocol based on the Ethereum Virtual Machine (EVM) and the Web3JS stack. From March to June 2018, Fantom raised around $40 million through private and public token sales. The native token, FTM, serves as the transaction's backbone, allowing fee collection and staking, as well as the user incentives that the latter represents.