Fantom will return 15% of gas fees to particular projects

  • The Fantom blockchain has announced a new initiative, the “dApp Gas Monetization Program,” which aims to drive demand for block space and reward projects that contribute to high usage gas fees.
  • Eligible applications will be given back 15% of the gas fees they produce, which is expected to provide developers with additional income.
  • The program is also expected to add value to the FTM token, which was trading at $0.3405 at the time of the announcement.

The dApp Gas Monetization Program was passed through a community governance vote earlier this year. Its implementation will reduce the token burn rate from 20% to 5%, redirecting part of the saved gas fees towards gas monetization.

Projects already benefiting from the monetization program

Some projects have already started benefiting from the monetization program, such as the SpookySwap decentralized exchange (BOO/USD), which earned 978 FTM ($300), and the cross-chain bridge Stargate Finance (STG/USD), which earned 8,300 FTM ($2,600).

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