• Fantom has passed a governance proposal to set up gas monetization for dApps on its network.
• This will help to increase the network’s revenue and incentivize developers to build on the network.
• The proposal was passed with 99.8% voting in favor, indicating strong support for the initiative.
Fantom, a layer-1 open-source smart contract platform, recently announced that it had passed a governance proposal to set up gas monetization for decentralized applications (dApps) on its network. This move is set to help increase the revenue of the network, while also incentivizing developers to build on the Fantom network.
The proposal was put to a vote by the Fantom Foundation, with 55.9% of the community voting in favor of the initiative. The result showed that 99.8% of voters were in favor of the proposal, compared to the 0.1% who were against the motion. This overwhelming support for the proposal is a testament to the strong backing of the Fantom community.
The monetization of gas fees will not only help to increase the revenue of the network, but it will also reward developers who create high-quality dApps on the platform. The monetization model is similar to the one used in web2 for affiliate incentives, and Fantom hopes that this will be a powerful tool for attracting and retaining quality developers.
Andre Cronje, the co-founder of Fantom, has also recently revealed the project’s plans for 2023. The success of these plans may depend on the metrics of the project, and the monetization of gas fees is an important step towards achieving these goals.
This latest development is another example of Fantom’s commitment to enhancing the utility of its network and creating a thriving ecosystem for developers. With the help of its passionate community, Fantom is sure to continue to make progress towards its 2023 roadmap.