Fantom (FTM) News: Fantom’s gas monetization program found huge support from the crypto community as FTM emerged as the highest gainer in the last 24 hours amid the bullish environment thanks to the Fed rate hike on expected lines. The program provides high quality decentralized applications (dApps) with a sustainable income and retain talent with its gas fee sharing incentive. This essentially means that the more usage the DApps get the more the developers will profit. This initiative appears to have garnered support from Fantom developers and traders, with the token rising massively in the last 24 hours.
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The Fantom community is apparently bullish on the prospects in the coming future. The latest rally comes as a reaction to various initiatives to be rolled out for the benefit of developers in the ecosystem.
FTM Developer Benefits
Andre Cronje, the cofounder and architect at the Fantom Foundation, penned a detailed note on the various solutions it offers to the developer ecosystem. The gas monetization initiative allows developers to earn revenue of 15% of all gas spent on the contracts. Also, the Foundation is bringing in a feature that allows wallets interacting with the DApps not necessarily having FTM. This would be rolled out in the next two quarters, the co-founder said. With this, wallets without FTM can interact with the DApps.
“The program offers dApps a 15% share of the gas fees they generate.”
This is similar to the ad revenue model operated on social media platforms like Instagram. The gas monetization claims by developers, however, would have to be approved through the validator network. Meanwhile, the FTM price skyrocketed in the last 24 hours. As of writing, FTM price stands at $0.641, up by around 28%, according to CoinGape price tracker.
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