Good news for Fantom: new projects could benefit from a fund

The proposal was then put to the vote of the entire community by Sam Harcourt, director of business development of the Fantom Foundation. The community will be able to express its opinion from 5 July to 3 October, about three months. To vote, you must use yours fPortfolio, Fantom’s default wallet. To be considered, this proposal must have a support of at least 55%.

The #Fantom community votes on the opportunity to use the burn fee to finance projects. Such a clever idea! I love #innovation !!! #FTM #altcoin # AltcoinSeason2022 #Crypto

Community grants

Specifically as regards the implementation of this initiative, a safe will be created to receive a part (precisely the third) of the transaction fees that are otherwise destroyed by decommissioning. If approved, the proposal will reduce Fantom’s commission retirement rate to 20% per day.

📢 A new governance proposition has been created: Ecosystem Support Vault As part of Fantom’s continuing evolution towards decentralization, this proposition strengthens the community of validators and stakers through a chain Ecosystem Support Vault. Voting open👇 https://t.co/u0ZBeBiAkO

The “saved” funds will support ideas or projects that request them through the network governance portal with their fWallet. It will again be up to the community to decide whether or not the project or idea should receive the grant from the funds held in the vault. If the application is successful, the Foundation will pay the grant amount through on-chain transaction automation services. Later, Fantom plans to create its own payment service dedicated to granting disbursements from the vault.

Read also Bitcoin on the road to an explosion? This good news, which comes straight from the US, makes investors confident!

According to DigitalCoinPrice, the price of FTM is expected to easily hover around $ 4.08 by the end of 2022 and $ 5.47 by the end of 2026.

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