Fantom (FTM/USD) successfully passed its latest governance proposal, which aims to bring gas monetization to successful decentralized applications (dApps).
Fantom is a scalable blockchain platform built to power dApps and Decentralized Finance (DeFi), where FTM is the native cryptocurrency used to power its ecosystem.
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Fantom governance proposal pass as a catalyst for growth
In the latest Fantom news, Fantom’s latest governance proposal was passed.
The new proposal aims to bring gas monetization to dApps which proves to be successful.
Alongside optimizing the demand for block space, the implementation will also reward quality creators on Fantom in a way that is sustainable.
Based on the official post by the Fantom Foundation, 55.9% of the total votes were in favor of the proposal, where they voted to improve the network’s revenue. Only 0.1% disagreed.
The goal of the proposal is to attract quality developer talent and ensure a healthy and sustainable network.
The dApp gas monetization will take the framework of a revenue model that works in Web2, such as ad monetization, and adjust it to incentivize developers built on Fantom.
The monetization model will be accomplished through the reduction of the burn rate of 20% to 5%, where 15% will be redirected towards gas monetization.
The requirements include the completion of 1,000,000 or more transactions and to have 3 months or above spent on the Fantom Opera network.
Should you buy Fantom (FTM)?
On January 6, 2023, Fantom (FTM) had a value of $0.216.
The all-time high of the Fantom (FTM) cryptocurrency was on October 28, 2021, at a value of $3.46. Here we can see that at its ATH, the token was $3.244 higher in value, or 1,502% higher.
In terms of the 7-day performance behind Fantom (FTM), its low point was at $0.1964, while its high point was at $0.2223. Here we can see a price difference of $0.0259 or 13%.
However, when we take a look at the 24-hour performance, Fantom (FTM) had its low point at $0.2148, while its high point was at $0.2198. Here we can see a difference of $0.005 or by 2%.
Investors will want to take up the opportunity and buy FTM as it can climb to $0.26 as a result of the latest passed proposal by the end of January 2023.