{"id":16678,"date":"2023-01-20T16:35:09","date_gmt":"2023-01-20T16:35:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/fantom-announces-on-chain-funding-mechanism-ecosystem-vault\/"},"modified":"2023-01-20T16:35:09","modified_gmt":"2023-01-20T16:35:09","slug":"fantom-announces-on-chain-funding-mechanism-ecosystem-vault","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/fantom-announces-on-chain-funding-mechanism-ecosystem-vault\/","title":{"rendered":"Fantom announces on-chain funding mechanism Ecosystem Vault"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674232029843-3d240371-0224-40ef-89d9-ecdc01c0a2de-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674232029843-3d240371-0224-40ef-89d9-ecdc01c0a2de-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674232029843-3d240371-0224-40ef-89d9-ecdc01c0a2de-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674232029843-3d240371-0224-40ef-89d9-ecdc01c0a2de-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li dir=\"ltr\"><em><strong>Fantom Foundation, the platform behind the Fantom (FTM) blockchain announced the launch of Ecosystem Vault on Friday.<\/strong><\/em><\/li>\n<li dir=\"ltr\"><em><strong>Vault is a decentralised funding mechanism that will be financed by 10% of FTM transaction fees.<\/strong><\/em><\/li>\n<li dir=\"ltr\"><strong><em>The funds in the vault are available to projects that get 55% approval in community-driven governance vote.<\/em><\/strong><\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/fantom\/\">Fantom<\/a>, a scalable Layer-1 blockchain platform, has officially launched Ecosystem Vault, a decentralised funding pool that will empower and help builders deploy new community-driven projects on the blockchain.<\/p>\n<h2 dir=\"ltr\">Vault to boost Fantom\u2019s dApps ecosystem<\/h2>\n<p dir=\"ltr\">Announcing that Vault was officially live, Fantom noted in a <a href=\"https:\/\/fantom.foundation\/blog\/ecosystem-vault-now-live\/\" rel=\"noopener noreferrer\" target=\"_blank\">blog post<\/a> that the funding mechanism will encompass governance proposals from the community.<\/p>\n<p dir=\"ltr\">The project represents Fantom\u2019s continuing evolution as the community eyes further decentralisation, the Fantom Foundation team wrote.<\/p>\n<p dir=\"ltr\">Vault\u2019s on-chain mechanism allows for a funding profile where projects and developers seeking to build decentralised apps (dApps) in the ecosystem can secure financing. As noted above, the funding pool also gives the Fantom community a chance to contribute to the growth of the blockchain via their funding decisions.<\/p>\n<p dir=\"ltr\">Per the Fantom Foundation, the Ecosystem Vault will get funds from 10% of transaction fees. The community controls these funds, which are a result of a reduction in the burn rate of native token FTM. \u00a0<\/p>\n<p dir=\"ltr\">Anyone can apply for the funds in the Vault, a process that requires applicants to create a Fantom Governance proposal (has 100 FTM fee). Afterwards, the proposal will need approval from 55% of the community based on 55% quorum. The Foundation tweeted:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">5\/ A proposal must receive at least 55% approval with 55% quorum to be considered successful. <a href=\"https:\/\/twitter.com\/llamapay_io?ref_src=twsrc%5Etfw\">@Llamapay_io<\/a> will be used to distribute all funding. Only wallet addresses included in the application can be paid.<\/p>\n<p>\u2014 Fantom Foundation (@FantomFDN) <a href=\"https:\/\/twitter.com\/FantomFDN\/status\/1616120331478990848?ref_src=twsrc%5Etfw\">January 19, 2023<\/a><\/p>\n<\/blockquote>\n<p>As of Friday, 20 January, 2023 at 11:06 am ET, the vault <a href=\"https:\/\/vault.fantom.network\/\" rel=\"noopener noreferrer\" target=\"_blank\">held<\/a> roughly 69,247 FTM tokens valued at just over $21,000.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/fantom-launches-on-chain-funding-system-ecosystem-vault\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Fantom Foundation, the platform behind the Fantom (FTM) blockchain announced the launch of Ecosystem Vault on Friday. Vault is a decentralised funding mechanism that will be financed by 10% of FTM transaction fees. The funds in the vault are available to projects that [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":16679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16678"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16678"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16679"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}