Fantom launches on-chain funding system Ecosystem Vault

The Fantom Foundation, the platform behind the Fantom (FTM) blockchain, announced the launch of Ecosystem Vault. The Vault is a decentralized funding mechanism that will be funded with 10% of FTM transaction fees.

The Fantom Foundation team wrote that this project represents Fantom's continued development as the community aims for greater decentralization. Vault's on-chain mechanism allows for a funding profile where projects and developers looking to build decentralized applications (dApps) in the ecosystem can raise funding.