Blockchain
The Fantom blockchain will reward projects that use its network and contribute to high usage of gas fees to increase demand for block space, the developers announced on Twitter on Sunday. Eligible apps are rewarded with 15% of the gas fees they generate, providing additional revenue to developers.
The move is part of the dApp Gas Monetization Program, which was voted on by the community earlier this year. The proposal was intended to reduce Fantom’s current burn rate in order to redirect more network costs directly to applications built on Fantom. This reduces Fantom’s burn rate from 20% to 5% and 15% goes to gas generation.
Gas monetization will reward in-demand applications, interest developers, and is said to support Fantom’s network infrastructure. Data shows that some projects are already benefiting from the monetization program just hours after Sunday implementation.
Image: Phemex