•Fantom Foundation has launched Ecosystem Vault, a decentralized funding mechanism that is financed by 10% of FTM transaction fees.
•The funds in the Vault are available to projects that get 55% approval in a community-driven governance vote.
•The Ecosystem Vault allows developers to secure financing to build dApps in the Fantom ecosystem.
The Fantom Foundation has recently announced the launch of their newest funding system – Ecosystem Vault. This decentralized funding mechanism is powered by 10% of FTM transaction fees and is available to projects that have been approved by a community-driven governance vote.
The Ecosystem Vault is a groundbreaking system that gives developers the opportunity to secure financing to build dApps within the Fantom ecosystem. This decentralized funding pool is an important step in the further decentralization of the Fantom blockchain, allowing the community to have a say in the growth of the platform.
The funds for the Vault are provided by the reduction of FTM’s burn rate. This means that 10% of the transaction fees are diverted to the Vault, where they are available for projects that receive 55% approval from the community. Anyone can apply for the funding, and the projects are voted on by the community, giving them a say in the direction and growth of the blockchain.
The Ecosystem Vault is an important step for the Fantom Foundation in their mission to build a more decentralized and inclusive platform. With this new funding system, the community is able to have a say in the growth of the blockchain, as well as provide financing to projects that have been voted on and approved by the community. The Vault allows developers to secure financing to build dApps in the Fantom ecosystem, and is an important step in the further decentralization of the blockchain.