Key Points: FTM will rebound after Fantom has received governance approval to allow developers to receive up to 15% of transaction fee revenue from Fantom.
The Fantom Foundation had previously proposed a gas monetization strategy to reduce the burn rate from 20% – 5%. The balance would be used to encourage developers to continue to build on the ecosystem.
Twitter announcement by Fantom Foundation that their new governance proposal for gas monetization across the ecosystem was approved. The tweet raised high expectations for the rebounding of FTM token. Fantom has been approved to distribute up to 15% transaction fees as revenue to developers using Fantom according to the new plan. The allocation can be adjusted or decreased by a separate governance vote. Currently, approximately 70% of transaction fees collected through Fantom are distributed to validators as income, while the rest is burned forever. Fantom Foundation proposed an alternative gas monetization method to reduce the burn rate to 20% to 5%. The remainder was then allocated as a share to encourage developers to continue to develop the ecosystem. Developers who have developed dApps well will be rewarded. They will receive 15% of the dApp transaction fees. Decentralized applications (dApps), in order to be eligible for the awards, must have been running on Fantom Opera network at least three months. They also need to have completed more than one million transactions. Fantom Foundation stated that the requirements for qualifying will be adjusted as necessary to limit garbage dApps, misuse of the gasmonetization model, and abuse of the network’s monetization model. FTM is the native token of the network and is expected to see an increase in its price in the future. Fantom Foundation is optimistic that the new incentive model will help maintain the network’s viability as well as allow for continued development of Fantom over the next few years. The Fantom Foundation hopes that it will attract and retain outstanding engineers. The Fantom ecosystem has made great strides thanks to the current maneuvers and the return from Andre Cronje, “DeFi godfather”. It is definitely worth your attention in near future. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comChubbiCoincu NewsTags: BlockchaincryptoFantomFantom Opera networkFTM