Fantom developers to receive up to 15% as revenue from gas monetization

Layer 1 blockchain Fantom has received governance support to allocate up to 15% of its transaction fees arsenic gross for developers gathering connected the network.

Currently, astir 70% of transaction fees generated connected the Fantom network are paid arsenic gross to validators, portion 20% of the fees are burnt forever.

In efforts to incentivize developers, the Fantom Foundation earlier proposed a state monetization exemplary to trim the pain complaint from 20% to 5%, truthful arsenic to allocate the remaining arsenic a reward for high-performing dApps.

The Fantom state monetization was designed successful enactment with the advertisement monetization exemplary communal to Web2 giants including YouTube-which allocates up to 55% of advertisement gross to creators.

The Fantom Foundation announced connected Dec. 4, that it has received approval to instrumentality the state monetization model. As a result, eligible developers volition person astir 15% of the transaction fees generated from their dApps.

To beryllium eligible for the affiliate rewards, the dApp indispensable person existed connected the Fantom Opera web for up to 3 months and completed implicit 1 cardinal transactions.

Fantom said it volition set the eligibility criteria arsenic the request arises, truthful arsenic to curb spammy and clunky dApps looking to exploit the state monetization model.

As per Fantom, the incentivization exemplary volition assistance pull and clasp talented developers and assistance summation the wellness and sustainability of the network.

According to the Fantom Fire Monitor, implicit 9.3 cardinal FTM has been burned, which amounts to astir $2 million.

The station Fantom developers to person up to 15% arsenic gross from state monetization appeared archetypal connected CryptoSlate.