- Fantom released a decentralized funding system called ecosystem vault.
- The vault will get 10% of the transaction fees.
- Volume spiked by more than 100% in the last 24 hours.
Fantom is a Layer1 blockchain that has launched a decentralized funding mechanism intending to finance blockchain projects via a community-driven governance process. The official blog post revealed that the funding system is named “ecosystem vault,” a mechanism that provides some elbow room to projects securing funding to build dApps on Fantom.
The vault is said to get 10% of transaction fees paid on the blockchain in FTM. This vault currently holds about 69,000 FTM tokens worth $20,000. The maximum amount that can be requested will be equivalent to the total supply of Fantom tokens in the vault at the time of application.
Source: https://www.thecoinrepublic.com/2023/01/21/fantoms-funding-vault-made-ftm-prices-flare-a-bull-flag/