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Fantom wants to cut token burn rate by 75% to fund dApp rewards program

Published Dec 01, 2022 03:15PM ET Updated Dec 01, 2022 05:00PM ET
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According to a new proposal dated Dec. 1, directed acrylic graph network Fantom seeks to implement an affiliate program for its decentralized application, or dApp, developers with network gas fees. To fund this venture, the Fantom community has proposed slashing the protocol's current FTM token burn rate from 20% to 5%. In supporting the proposal, Fantom developers wrote:

The development team further elaborated that Fantom’s Opera (NASDAQ:OPRA) network [native dApp builder] "is not directly competing against Youtube or Twitter," but seeks to "attract and retain high-grade talent continuously" in the Web 3.0 space. To qualify for the potential incentive, dApps must have recorded 1,000,000 or more transactions and have spent three months or above on the Fantom Opera network. Upon approval, developers can then claim 15% of the total gas fees spent on their dApp.

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Fantom wants to cut token burn rate by 75% to fund dApp rewards program
 

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