Fantom Creates The Ecosystem Support Vault Proposal

Twitter icon  •  Published 3 months ago  •  Hassan Maishera

The Fantom team told its community via Twitter on Tuesday that it had created a new governance proposal called the Ecosystem Support Vault.

The Fantom team told its community via Twitter on Tuesday that it had created a new governance proposal called the Ecosystem Support Vault. The proposal seeks to empower the community of validators and stakers through an on-chain Ecosystem Support Vault. The Ecosystem Support Vault provides an alternative avenue via community-driven decisions for the funding of projects, ideas & creations on the Fantom Opera network. The Fantom team said they intend to fund this vault by diverting one-third of the existing 30% burn rate from transaction fees. 

Fantom is building a programmable platform on a directed acyclic-graph-based distributed ledger. Fantom’s FTM coin is down by more than 4% in the last 24 hours and is currently trading at $0.2561.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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