Fantom blockchain to fund ecosystem projects using portion of burnt FTM fees

Fantom has released a decentralized vaults product to fund projects and applications that are building on its blockchain, developers said Friday.

Called Ecosystem Vault, the project is an on-chain fund financed by 10% of the transaction fees on Fantom and controlled by the community. The initiative was made possible by decreasing the burn rate of FTM and redirecting the resulting 10% to the vault.