Fantom (FTM) has launched its project called ecosystem vault to fund new projects and support the crypto industry.
Decentralized smart contracts platform Fantom focused on ecosystem enhancements and project improvements. The popular crypto money project has also been involved in the difficult processes, especially recently. The Layer 1 blockchain network has announced its new project on its official blog post. Fantom will finance blockchain projects with its new project.
Phantom Addresses Its Community with Ecosystem Vault
Decentralized smart contracts platform Fantom (FTM) has announced its ecosystem vault project, which will proceed with a community-oriented governance process.
This decentralized project will be used to fund potential and innovative blockchain projects. Making the announcement through its official channels, the project seeks to raise funding for projects that are making efforts to build DApps on the Fantom network.
The ecosystem vault will only be managed by FTM staking investors. To support the project, about 10 percent of transaction fees from the Fantom network will be transferred.
Projects wishing to apply for funding will have to create a forum post and be approved in the governance proposal. In addition, these projects must receive a 55 percent approval vote from the most recent community members.
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