Since the beginning of 2023, the crypto market has been looking bullish, and it might gain more movement in the upcoming days. New projects like Fantom (FTM) gas monetization program will boost the market more. A gas monetization initiative launched by Fantom (FTM) provides developers with incentives in gas fees based on how often their decentralized applications are used (dApps). The Fantom community has backed this move, which has significantly raised the token’s price.
FTM Developer benefits
This program has multiple benefits and will make the developer ecosystem stronger and more sustainable. First, the gas monetization offers dApps a 15% share of the gas fee, which will provide the developers with sustainable income tied to their application usage.
Additionally, the Fantom Foundation is also releasing a feature that disallows FTM from being required of wallets communicating with dApps. By improving the platform’s usability and accessibility, both consumers and developers would find it more appealing.
Another benefit of this program is that it will attract talented developers to the Fantom ecosystem, boosting the growth and quality of the dApps on the platform. Furthermore, The gas monetization claims will need to be approved through the validator network in order to confirm that the assertions made by developers are true. As a result, the platform’s users and developers can feel even more secure and trusted.
Last but not least, the program is likely to enhance Fantom and application adoption by giving developers a stable source of money. The ecosystem would then grow even more as a result of more usage and increased revenue for developers.
Fantom and Ad Revenue Model
The Fantom (FTM) gas monetization initiative functions similarly to how ads are monetized on social media sites like Instagram, Facebook, and YouTube. This is an appealing alternative for talented developers searching for a reliable source of income because the more use a dApp receives, the more money the developers will make.
In the ad revenue model on social media, users earn money through ads based on the views, clicks, and engagement on their content. Similarly, in the Fantom platform’s gas monetization program, developers earn revenue from gas fees spent on contracts for their dApps, with more usage leading to more revenue.
Impact on the Market
The price of the Fantom has increased following the recent launch of the gas monetization program for Fantom (FTM) developers. According to CoinGape’s price tracker, the price of FTM has soared by almost 28% during the past 24 hours. As a result, the Fantom ecosystem’s value for traders and investors has significantly increased.
As the cryptocurrency community expresses support for the gas monetization program and the advantages it provides to developers, the price has increased in response to the upbeat mood in the market. The program’s enhanced revenue potential and reliable income stream are anticipated to draw talented developers to the platform, improving the standard and expansion of the dApps there.
Final Thoughts
The Fantom project and its developer ecosystem have advanced significantly as a result of the gas monetization scheme. The project seeks to retain talent and foster the development of premium dApps by giving developers a stable income. The Fantom community’s enthusiastic response demonstrates that the project is on the right track and set up for future expansion.
