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.