The Fantom community has voted in support.offerGovernance to create an Ecosystem Support Vault to support projects where one-third of transaction fees are burning.
Votewhich started on July 5 It was almost unanimously approved by the participants. by details frompageVotes found that 99.75% of all voters supported the plan. Voting ends on October 3, but there is a requirement for early voting to close. If the vote exceeds the quorum requirement of 55%
Fantom will fund the vault with 10% of the transaction fee, with this 10% being a third of the incineration fee of the 30% of the network. Fees burn in crypto is where transaction fees are destroyed instead of being used. To reward validators, this process can help reduce the token’s total supply. Because part of the supply is constantly burned.
which provides funding to the ecosystem Fantom’s burn rate is reduced to 20%, thereby reducing the amount of FTM destroyed each year.
After voting Projects that wish to receive funding can apply for funding. These applications are made based on proposals submitted in the Fantom governance portal, after which the community will vote on whether to fund the project.
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