Fantom – Earn money from transaction fees to reward dApps
Disinterest in anything directly or indirectly related to cryptocurrencies is at its peak at the beginning of the year. This does not stop some “investors” from continuing to play the lottery with the new shitcoin (DONK) on the Solana network. Fortunately, during this time, some projects continue to create and offer truly innovative solutions. as in the case Phantom (FTM) blockchain) decreases over several months.
Because a bear market disrupts the tokenomics – often based on an uptrend – of many projects in the cryptocurrency sector. To the point of having to revise this copy to fit a less favorable trend. This is what the Fantom network has just done almost unanimous adoption of a community proposal aimed at monetizing operating costs (gas).. So?
Fantom – Earn money from transaction fees
A phantom network, like any other, is face-to-face a significant decrease in performance, both in terms of development and use. A situation that was certainly not helped by the departure of his mentor Andre Cronje early last year. Even if the latter, more discreetly, seems to have returned to the ranks of the minds responsible for building this classified ecosystem. In the top 10 DeFi players By DefiLlama website.
With total value locked (TVL) currently pointing 420 million dollarsThat’s a far cry from the $8 billion peak recorded in March 2022. This was a few days before Andre Cronje’s departure.More than 40% collapse in just a few days. And the downtrend is why you need to take matters into your own hands. Reason the community proposal was accepted by 99.8% of votes in order to implement the “affiliation incentive” type principle applied to gas costs.
” Fantom’s latest governance offering has gone through and made successful dApps money from gas! In addition to optimizing demand for block space, this app continuously rewards quality creators on Fantom using a methodology similar to affiliate incentives.”
Fantom – Reward popular dApps
A principle within the perspectives published earlier in the year by Andre Cronje was shared openly with the company’s team. Phantom Fund. A letter outlining the development strategy for this network over the next 12 months. And while “sometimes it can be difficult to line everyone up,” the trend remains “to provide the highest throughput blockchain available to offer a single secure settlement layer for all decentralized activities.” A complete program…
” Over the next 12 months, our main goal will be to create an environment for dApp developers to build a sustainable business while standing out from other tier 1 solutions.”
Andre Cronje
And one of the first decisions made by the community to trigger this dynamic (available since January 5th) Build a system to retain popular dApps developers. This is by offering them a share of the cost of the gas they produce, using a program “similar to corporate incentives”. Revenue logic is a technique inspired by Web2 applied to content creators on platforms like YouTube or similar. Twitch.
In fact, this is a concern “Revenue sharing for dApps based on gas used” principle this should help ensure “sustainable long-term revenue for strong dApps teams.” With the desire to try to keep up with the resumption of development of decentralized applications in the Phantom ecosystem. All accompanied by very interesting simplifications, such as “gas subsidies”, which will allow you to interact with the protocol without having the FTM cryptocurrency to pay the transaction fee. 2023 promises to be full of improvements…
