The Fantom community is voting on whether to set up a fund to support projects in the network ecosystem. which is funded by the burning transaction fees
This vote is based onoffer Governance, submitted by Sam Harcourt, Director of the Fantom Foundation, called for the creation of an on-chain Ecosystem Support Vault that would pool funds dedicated to funding projects, ideas and other proposals on the Fantom network. Opera
Vault draws funds from transaction fees on the Fantom network, in particular, one-third of the fees may be burned. This is where transaction fees are burned. This instead of going to the network validator, it goes to the fundraising vault.
Voting begins on July 5 and will end on October 3.accessibleThrough fWallet, Fantom’s wallet, it currently has a participation rate of just 2.78% and needs to reach 55% to reach the quorum.
The Fantom Opera network currently burns 30% transaction fees to instigate pressure on the FTM price, the network’s original coin. Passing through Harcourt’s offer would reduce the amount of FTM burned each day.
according to the regulatory proposal Projects seeking funding must submit a request through the network’s governance portal using fWallet, where the community will vote on whether to grant the request.
The post Fantom Community Vote for 10% Transaction Fee to Support Ecosystem Development appeared first on Bitcoin Addict.