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Fantom to Focus on DApp Ecosystem Expansion in 2023

Fantom, the decentralized finance protocol, has announced its plans for the coming year. In a recent Medium post, decentralized finance architect Andre Cronje outlined the priorities for Fantom in 2023.

Fantom Logo
Fantom Logo

Cronje has also recently joined the Fantom Foundation and Fantom Operations board, which oversee the Fantom-directed acrylic graph ecosystem.

One key aspect of Fantom's roadmap for the next year is gas monetization. This would allow revenue sharing for decentralized applications, or DApps, as an incentive for development. Additionally, Fantom DApps would interact without needing a wallet to pay gas fees directly, thanks to gas subsidies. This means that users would not need to hold or be aware of the Fantom token (FTM) when using the platform.

Other improvements to the gas system include the removal of the distinction between smart contracts and externally owned accounts, allowing anyone to initiate transactions and pay for gas. Additionally, tokens other than FTM can be used as gas fees on the protocol.

Andre Cronje
Andre Cronje

In terms of new developments, Cronje plans to focus on building the Fantom Virtual Machine and a new storage mechanism. He also reassured readers that the protocol is in a "sustainable and healthy position" financially, especially compared to its situation in 2018.

Fantom Announces 75% Reduction in Token Burn Rate

Fantom, the decentralized finance protocol, has announced that it will reduce its token burn rate by 75%. This change is intended to fund a reward program for decentralized applications (DApps) on the Fantom Opera network. To be eligible for these rewards, DApps must have recorded at least one million transactions and have been active on the network for at least three months.

This move follows Fantom's recent announcement of its plans for the coming year, stating its intention to focus on expanding its decentralized application ecosystem. By reducing its token burn rate and offering incentives for DApp development, Fantom aims to create an environment where DApp developers can build sustainable businesses.