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Fantom Developers Introduce Monetization Program for Cryptocurrency Projects

Fantom developers said that cryptocurrency projects that use this blockchain and contribute to high fees will now receive 15% of the transaction fee.

Fantom-based projects will need to submit a special application for additional monetization.

The developers stressed that dApp Gas Monetization Program, which was launched at the beginning of the year, should increase the load on the network and help creators of cryptocurrency projects to generate additional income.

The program should also keep developers in the Fantom ecosystem and support the blockchain network infrastructure.

The proposal with the monetization of commissions for projects was aimed at reducing Fantom’s coin burn rate and redirecting transaction fees directly to blockchain-based app developers.

Once the program is launched, the rate of token burning should, according to the developers, decrease from 20% to 5%.

The program launched on May 28 and some projects are already receiving rewards for network load.

For example, interconnect bridge Stargate Finane earned 8 300 FTM ($2,600), and decentralized exchange SpookySwap got 978 FTM ($300).

Earlier, the Fantom Foundation emptied its liquidity pools on the SushiSwap exchange due to an unclear situation with the Multichain bridge.