Phantom (FTM) altcoin wants to implement an affiliate program with network gas fees for decentralized application or dApp developers, according to the latest update proposal made by its chain.
Phantom Developers Want to Lower Burn Rates and Transfer More Money to Developers
To fund this initiative, the phantom community has proposed reducing the protocol’s current FTM token burn rate from 20% to 5%. In support of the proposal, the Phantom developers wrote:
“We take what works on Web2 and reconfigure it to fit the priorities of the network; which means taking the ad monetization model and extending it to gas fee monetization for performing dApps that manage to attract a steady stream of users.
This gas fee monetization program will aim to reward high-quality decentralized applications, retain talented creators and support Fantom’s network infrastructure.”
If this proposal is accepted, FTM’s burning rate of 20% will decrease to 5%, and this 15% reduction will be directed towards earning money from the gas fee.
The developers detailed the new proposal as follows:
“As part of Phantom’s continued effort to implement sustainable monetization incentives for developers, we would like to introduce the latest management proposal. This proposal aims to reduce Phantom’s current burn rate to direct more network fees to dApps developed on FTM.”
If the proposal passes, the burning rate of transaction fees on the FTM network will decrease and the amount of money to be transferred to decentralized application developers will increase.
*Not investment advice.
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