Fantom’s FTM token is up 20% on a weekly basis and is trading at $0.381 at the time of writing, according to data from CoinMarketCap. The token is up 2% in the last 24 hours as most of its intraday gains have declined.

The Fantom blockchain is receiving positive news as the Squid SDK, which allows developers to index, transform, and use blockchain data for free, has finally made its way to Fantom.

squid sdk helps users retrieve, transform, and use Web3 data, and was released on Fantom. This would allow blockchain participants to index up to 50,000 blocks per second and deploy them anywhere using a free hosted service.

“It has been a pleasure working with the @FantomFDN team as we prepare this release. We have found a lot of synergy with them as we all look to provide speed, scalability, security and great #devex a #chain of blocks developers.” – @subsquid https://t.co/vdPwN6CWDJ?

— Fantom Foundation (@FantomFDN) January 22, 2023

Last week, Fantom announced the launch of its decentralized “Ecosystem Vault” to finance projects and applications that are based on its blockchain.

As part of Fantom’s continued evolution towards decentralization, the Ecosystem Vault represents an on-chain fund funded by 10% of the transaction fees on Fantom and controlled by the community. The initiative was made possible by lowering the FTM consumption rate and redirecting the resulting 10% to the vault.

Since the beginning of 2023, Fantom has witnessed remarkable achievements.

In early January, Fantom’s governance proposal, which incorporates gas monetization, was successfully approved.

Additionally, cross-chain exchanges are now enabled on Fantom through the Pangolin DEX. Users will now be able to trade from FTM to AVAX and vice versa directly through Bridge Swap on Pangolin DEX.