Fantom, the directed acyclic graph smart contract platform that provided decentralized finance services to developers, took a major step towards incentivizing development on its platform to further drive network growth and adoption.

The Fantom Foundation submitted a new governance proposal that sought to implement the dApp Gas Monetization Program. According to the program, Fantom’s current burn rate will be reduced by 75%, and the saved network fees will be redirected toward dApp builders on the network. 

If approved, the proposal will bring down Fantom’s burn rate from its current 20% to 5%. Developers will claim the remaining 15% of gas fees.  

(by Suzuki Shillsalot)