June 1, 2023

Fantom'S Monetization Program: Progress Summary

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Since its launch, Fantom's Gas Monetization Program has been making waves in the developer community. The initiative, a brainchild of the Fantom Foundation, aims to reward developers with a share of the gas fees generated by their dApps on the Fantom network.

Early Adopters and Their Achievements

Currently, six dApps, namely Stargate Finance, LayerZero, SpookySwap, Beethoven X, ParaSwap, and WOOFi, have joined the program. This participation indicates the developers' confidence in the program and the Fantom platform.

These early adopters have already earned over 12,000 Fantom (FTM), the native token of the Fantom platform. The rewards, calculated as 15% of the gas fees their eligible smart contracts have generated, can be claimed through the official Gas Monetization page. To enhance transparency and competition, a leaderboard is available, displaying the total amount of FTM distributed to each participating project.

Fine-tuning the Criteria

To ensure the program benefits developers who contribute significantly to the Fantom ecosystem, participation is subject to certain criteria. Each smart contract must have completed at least 125,000 transactions and have been live on Fantom for at least three months. These parameters serve as a measure of the dApp's activity and popularity among users.

However, Fantom Foundation has emphasized that these criteria are not set in stone. They are subject to review and modification as the Foundation continually assesses their effectiveness in fostering a sustainable and thriving developer ecosystem.

Looking Forward: The Future of Gas Monetization on Fantom

Fantom's Gas Monetization Program represents a significant stride towards aligning developer incentives with the growth of the Fantom ecosystem. The program's early successes suggest a promising future. However, its true impact on Fantom's growth, the behavior of its developers, and the broader blockchain ecosystem will be more apparent with time.