Fantom Proposes Reducing Token Burn Rate To 5% To Fund For dApp Affiliate Program

According to a recent request dated December 1, directed acrylic graph network Fantom wishes to introduce an affiliate scheme with network gas payments for its decentralized application, or dApp, developers.

The Fantom community has advocated reducing the protocol’s existing FTM token burn rate from 20% to 5% to fund this initiative.

To be eligible for the possible bonus, dApps must have registered 1,000,000 or more transactions and have been active on the Opera network for at least three months. Developers can then claim 15% of the total gas fees spent on their dApp after it has been approved.

The Fantom Foundation, on the other hand, stated that it reserves the right to suspend any payment stream permanently for any reason, including suspected fraudulent user conduct or if the Foundation deems it is in the best interests of the Fantom ecosystem.

The development team went on to say that Opera network is not directly competing with YouTube or Twitter but rather attempts to recruit and retain top talent in the Web 3.0 field on a constant basis.

Fantom is a decentralized, permissionless, open-source smart contract platform for decentralized applications (dApps) and digital assets — one of many blockchain networks built to provide an alternative to Ethereum. The blockchain mainnet went live in December 2019 and its network architecture intends to provide a viable solution to the Blockchain Trilemma by providing a steady balance of scalability, security, and decentralization.

Like other Ethereum alternatives, Fantom intends to provide more scalability and lower costs than the legacy first-mover smart contract platform is able to provide in its Ethereum 1.0 iteration.

A unique element of the Fantom crypto platform is that users can create and deploy their own independent networks instead of relying solely on its main consensus layer. Each application built on the operates on its own unique blockchain. While operating on its own blockchain, each Fantom dApp also enjoys the security, speed, and finality of the parent blockchain. Further, independent blockchains are modular in structure, which allows developers to configure them to their particular project’s use case.

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