The Fantom network announced via Twitter on Thursday that its Ecosystem Vault is now officially live. The Ecosystem Vault is an on-chain fund financed by 10% of the transaction fees on Fantom and controlled by the community. The initiative was made possible by decreasing the burn rate of FTM and redirecting the resulting 10% to the Vault.
Fantom added that the Vault represents a valuable opportunity for projects to secure funding in their efforts to build innovative dApps on Fantom. It’s also a chance for the Fantom community to come together and shape the future of the platform through their funding decisions.
Fantom is building a programmable platform on a directed acyclic-graph-based distributed ledger. Fantom’s FTM coin is down by 1% in the last 24 hours and is currently trading at $0.3006.