29 May 2023 12:14, UTC
Reading time: ~2 m
The Fantom blockchain will reward projects that use its network and contribute to high usage of gas fees to drive increased demand for block space, the developers announced on Twitter on Sunday. Eligible apps will be rewarded with 15% of the gas fees they generate, providing developers with extra income.
The move is part of the dApp Gas Monetization Program, which was voted on by the community earlier this year. The proposal was intended to reduce Fantom’s current burn rate in order to redirect more network fees directly to applications built on Fantom. This will reduce Fantom’s burn rate from 20% to 5% and 15% will go towards gas monetization.
Gas monetization will reward in-demand applications, interest developers, and is said to help support Fantom’s network infrastructure. Data shows some projects are already benefiting from the monetization program just hours after its Sunday implementation.
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