According to the company’s announcement, Alameda acquired a $35 million stake in the Fantom ecosystem through the purchase of FTM, the platform’s native token.
“We came to the conclusion that strategic alignment between Alameda and Fantom is fundamentally important, as many of our technical partners – such as Ren – are part of the Alameda family of companies and products,” Fantom said in the announcement.
The investment gives Alameda a significant stake in The Graph’s recent growth—its hosted service saw queries increase to over 11 billion in January 2021, after recording a 100x growth in 2020.
Alameda’s investment in Fantom comes at the same time the company announced that blockchain data indexing protocol The Graph has launched on Fantom. Earlier this month, The Graph said it was considering integrating eight additional Layer-1 blockchain protocols, including Bitcoin, Polkadot, Cosmos, Solana, Avalanche, and Binance Smart Chain.
Fantom has been fast-tracked to production on The Graph’s hosted service, the company explained in a blog post. After requesting support from The Graph, Fantom completed the integration process in 24 hours. Andre Cronje, the DeFi Ethereum Architect for Fantom, said the ease of integration was a testament to the quality of The Graph’s technology.