Fantom Launches Gas Monetization Feature for Developers with Incentives

The blockchain protocol Fantom (FTM) has announced on Twitter that it has released a feature that will allow developers to receive 15% of the gas commissions generated. This is a groundbreaking development that will revolutionize the decentralized application (dApp) development landscape and encourage developers to build innovative solutions on its blockchain platform.

According to the data provided, Fantom presently has 10,492 FTM available funds for the program. Out of this total amount, 514 FTM has already been distributed, while the total generated funds amount to 11,006 FTM. While Fantom did not provide further details about the update, some Twitter users have asked a variety of questions, such as whether the incentive will also be beneficial to investors as rewards.

Gas fees have long been a source of concern among blockchain developers and users. These fees are essentially transaction charges incurred when executing operations on a blockchain network, and they are critical in ensuring the network’s security and integrity.

However, they can frequently constitute a barrier to entry for developers, particularly in times of high network congestion which causes soaring gas prices. Therefore, Fantom’s gas monetization functionality strives to address this issue by giving developers a unique opportunity to recoup a percentage of the gas revenues generated through their dApps.

Fantom’s gas monetization functionality encourages a more inclusive and robust developer ecosystem on the Fantom platform. It will encourage developers to contribute their ideas and expertise, knowing that they will be rewarded for their work. This incentive structure could attract a diverse variety of developers, resulting in more creativity and a wider selection of high-quality dApps on the Fantom network.

This feature also offers advantages to the Fantom ecosystem as a whole. By encouraging more developers to join the platform and build on Fantom, the network stands to gain a richer assortment of applications and services. This can drive user adoption and increase overall network usage, further solidifying Fantom’s position as a leading blockchain platform. By introducing this innovative incentive model, Fantom is taking a proactive step to nurture its developer community and encourage the creation of cutting-edge decentralized applications.

It is worth noting that Polygon, Ethereum’s Layer-2 scalability platform, has also considered developers in terms of hefty gas fees in the past, agreeing on a hardfork to handle gas spikes and chain reorganization problems.

Advantages of Fantom’s Gas Monetization Feature

Increased token holding among developers can reduce sell pressure in the market, potentially stabilizing or positively influencing the token’s price. It should be recalled that the Fantom token has witnessed a more severe drop in value in recent times, which has raised concerns for investors.

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