Fantom launches decentralised fund to develop its ecosystem

The Fantom platform for smart contracts has launched a decentralised mechanism for funding projects in the ecosystem.

Fantom’s Ecosystem Vault is officially live! ?

The Vault is a funding pool aimed at empowering builders on #Fantom for new projects, ideas and creations via community-driven governance proposals.

Dive in for full details on how to apply:https://t.co/zwEZSifluY

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— Fantom Foundation (@FantomFDN) January 19, 2023

\”The Ecosystem Vault is a fund designed to empower Fantom developers by offering a decentralised way to finance projects, ideas, and creation through community-driven decision-making,\” the Fantom Foundation explained.

The fund is formed from 10% of transaction fees in Fantom. Applicants for funding must present their project on the forum and submit a governance proposal. For approval, 55% of votes are required with a quorum of at least 55% of FTM token holders.

You can request up to the full amount of FTM held in the vault. However, funds will be disbursed gradually in a streaming fashion. The time to full payout depends on the amount allocated. Funding of less than 500 000 FTM will be disbursed over a month, while receiving more than 3 million tokens will take a year.

Для распределения средств фонд использует сервис Llamapay. Первоначально структура будет поддерживать одновременно не более пяти проектов.

На момент написания The Ecosystem Vault содержит 69,174 FTM стоимостью $20,801.

Earlier in December the returning member of the Fantom Foundation Board Andre Cronje outlined the goals and priorities for the project’s development in 2023.

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