Fantom General Update | June 5, 2023

Welcome to the latest General Update!

Over the past two weeks, Fantom launched the Gas Monetization program successfully, the amount of FTM burned forever reached 10 million, and we shared several exciting blockchain conference updates.

Join us as we recap the latest developments in the world of Fantom.

News and developments

May 25

10,000,000 FTM have been burned! In the current fee structure, validators receive 70%, the Ecosystem Vault receives 10%, the dApps part of Gas Monetization receive 15%, and the remaining 5% is burned permanently.

May 25

Herbert Jordan, a research and development scientist at Fantom, spoke at the Next Block Expo in Warsaw about Fantom and the platform’s potential ability to handle 100 million transactions every day.

May 30

Fantom became an official partner for Web3 Berlin, which is one of the biggest Web3 conferences in Europe with a focus on inclusivity, networking, education, and onboarding people to the Web3 space.

May 31

Gas Monetization launched on Fantom! Over a dozen dApps are earning a 15% share of the gas fees they generate, which is inspired by the Web2 ad-revenue model to reward creators that bring activity!

Launches and integrations

• Bounce Finance (Decentralized auctions)
• deBridge (Interoperability protocol)
• MetaMax (Multichain DEX aggregator)
• Polyhedra Network (Interoperability protocol)
• Shopping.io (Online crypto shopping)

Vertical Blocks

Vertical Blocks, the one-stop place for everything blockchain, Fantom, and beyond, pushed out several pieces of content over the last few weeks.