Fantom Shakes up Web3 with dApps Gas Monetization

1. Fantom’s Gas Monetization program shares 15% of gas fees with eligible dApps developers.
2. The program aims to foster a thriving ecosystem, attracting and retaining top-tier talent.
3. The initiative supports network infrastructure, mirroring ad revenue models from traditional web platforms.

In an extraordinary stride toward a sustainable and thriving ecosystem, the Fantom Foundation has announced the commencement of its revolutionary Gas Monetization program. This cutting-edge initiative allows dApp developers on the platform to procure a substantial 15% share of the gas fees they catalyze.

Mirroring the rewarding mechanism ubiquitous on traditional web platforms, Fantom’s program presents a novel approach to appreciate the role of builders and validators in the success and growth of smart contract platforms.

The Gas Monetization program fosters an environment conducive to the retention of meritorious talent, thereby fortifying the network’s robustness and longevity​​.

In an attempt to inhibit spam and other extraction loopholes, the program has set forth stringent eligibility criteria. To qualify, each dApp must have completed at least a million transactions and been live on Fantom for a minimum of three months​.

As it stands, the Fantom Foundation is collaborating with a select few projects that satisfy these prerequisites, with a public application process on the horizon​1​. A significant decrease in the FTM burn rate from 20% to 5% facilitates the allocation of the 15% gas fees to the participating dApps.

This redefined burn rate also accommodates an assortment of contributions, from augmenting bonuses for participating dApps to supporting public-good infrastructure subsidies​​.

The future of cryptocurrency holds immense promise, as evidenced by Fantom’s innovative move. This Gas Monetization program symbolizes the evolution of digital finance, fostering a new age of empowerment and monetization for creators in the decentralized world.

As blockchain technology continues to evolve, initiatives like these will undoubtedly pave the way for a more balanced and thriving cryptocurrency ecosystem.