• Fantom Foundation has received approval to reduce the burn rate from 20% to 5%.
• Eligible developers will receive about 15% of the transaction fees generated from their dApps.
• To be eligible for the affiliate rewards, the dApp must have existed on the Fantom Opera network for up to 3 months and completed over 1 million transactions.
The Fantom Foundation recently achieved an important milestone in its journey to offer developers a better experience on its blockchain network. The foundation has received approval to reduce the burn rate from 20% to 5%, so as to allocate the remaining as reward to high-performing dApps. This means that eligible developers on the Fantom network will receive up to 15% of the transaction fees generated from their dApps.
The gas monetization model is in line with the ad monetization model common to Web2 giants such as YouTube, which allocates up to 55% of ad revenue to creators. The Fantom Foundation announced on Dec. 4, that it has received approval to implement the gas monetization model. To be eligible for the affiliate rewards, the dApp must have existed on the Fantom Opera network for up to 3 months and completed over 1 million transactions.
The goal of the incentivization model is to further reward developers for their contributions to the growth of the Fantom network. It also helps to encourage more developers to build on the network, as they are assured of a stable income stream. The Fantom Foundation will continually adjust the eligibility criteria as the need arises, so as to curb spammy and clunky dApps looking to exploit the gas monetization model.
The approval of the gas monetization model is a major step in the right direction for developers on the Fantom network. It will open up new opportunities for developers to participate in the growth of the network and make a living from the applications they build. In addition, it will also give developers more financial security and stability, as they are assured of a revenue stream from the network.
Overall, the new gas monetization model is a win-win for both the Fantom Foundation and for developers on the network. The Fantom Foundation is committed to providing developers with the necessary support and resources to build successful applications on the network, and this approval is a testament to that commitment.