Fantom Announces 335M Incentive In FTM, Price Reacts To The Upside

The Fantom Foundation announced an extension of its Incentive Program. The initiative was successful, it received 100 applications to support the ecosystem and disbursed 35 million FTM. Thus, the organization is ready to increase it by ten-fold. Related Reading | Why Fantom Fell 22% Following Key Personnel Exit This extension will disburse 335 million in FTM to continue to provide financial aid to developers building “unstoppable applications on the most accessible and user-friendly blockchain”. The organization has partnered with Gitcoin Grants. Projects will be able to submit their applications and receive funds depending on the Fantom community. The users will decide the allocation, as the foundation clarified, projects with more support from the users will receive “greater FTM matching rewards”. The foundation aims at providing financial aid to a “wider variety of project types”. Therefore, anyone building on Fantom, regardless of their sector or use case, will be “treated equally and consistently”. In addition, the foundation attempts to provide its community with more power. As mentioned, they will take center stage when deciding the projects that will be rewarded. The foundation expects to encourage developers to create applications with users as a focus. Even projects with small total value locked (TVL) or low usage metrics will be allowed to participate and could receive part of the 335 million in FTM. The founda...