Ethereum Classic Labs has announced that it has formed a collaboration with the nonprofit foundation behind Fantom (FTM), a Directed Acyclic Graph (DAG) based smart contract platform that aims to solve the scalability issues of distributed ledger technologies, to bring crypto-agnostic DeFi features to the Fantom ecosystem.

According to Fantom Foundation CMO Michael Chen, the company will leverage the DeFi-oriented public blockchain that traverses Fantom and Cosmos (ATOM), Xar Network, to mimic Maker’s DeFi platform.

Ethereum Classic’s biggest role within this new initiative looks to be adding support for ETC as collateral to mint a stablecoin on the Fantom platform, similar to DAI on Ethereum (ETH).

The collaboration appears to be part of Ethereum Classic Labs’ mission to promote the “ETC is hard money” narrative.


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