This article originally appeared on www.coindesk.com
Fantom, a high-performance blockchain network, has launched a new program that rewards eligible projects with a percentage of FTM token fees. Dubbed the “Protocol Incentive Program,” this initiative is designed to incentivize developers to build on Fantom’s network and help grow its ecosystem.
Under the terms of the program, eligible projects will receive 15% of the FTM token fees generated from their transactions. These rewards will be distributed on a monthly basis, with the amount of FTM tokens rewarded depending on the volume of transactions conducted by the project.
To be eligible for the program, projects must meet certain criteria. They must be built on the Fantom network and have their smart contracts verified by Fantom’s auditing partner, CertiK. Projects must also have a clear use case and provide value to the Fantom ecosystem.
The Protocol Incentive Program is part of Fantom’s broader strategy to attract and retain developers on its network. By providing financial incentives to developers, Fantom is hoping to encourage more projects to build on its platform. This, in turn, will help to increase the use and adoption of the Fantom network, further strengthening its ecosystem.
In addition to the Protocol Incentive Program, Fantom is also working on other initiatives aimed at supporting the development of its ecosystem. For example, the network recently launched a developer grant program to provide funding and support to early-stage projects. The grant program offers up to $150,000 in funding for qualifying projects.
Fantom is also working on improving the scalability and interoperability of its network. The network is built on a unique consensus mechanism called Lachesis, which allows for higher transaction throughput without sacrificing security. Additionally, Fantom is working on integrating with other blockchain networks, allowing for the seamless transfer of assets and data between different platforms.
In conclusion, the Protocol Incentive Program is an exciting development for the Fantom network and its community. By providing financial rewards to eligible projects, Fantom is incentivizing developers to build on its platform and help grow its ecosystem. This, in turn, will benefit the entire blockchain industry by promoting innovation and collaboration.