The Fantom Foundation has announced that its Incentive Program will be extended. The programme was a success, with 100 applications for ecosystem assistance and a total of 35 million FTM distributed. As a result, the organisation is prepared to ten-fold it. According to the announcement, this extension will provide 335 million in FTM to developers building “unstoppable applications on the most accessible and user-friendly blockchain.” Gitcoin Grants has partnered with the organisation.
Depending on the Fantom community, projects will be able to submit applications and get funding. The allocation will be decided by the users; according to the foundation, projects with higher user support would earn “larger FTM matching incentives.” The organisation wants to help a “wider diversity of project types” through funding. As a result, regardless of their industry or use case, anyone building on Fantom will be “treated similarly and consistently.”
Furthermore, the foundation strives to give its community additional influence. They will, as previously stated, take centre stage in determining which projects will be rewarded. The organisation intends to encourage developers to design apps that prioritise consumers.
Even projects with poor total value locked (TVL) or consumption metrics will be eligible to participate and receive a portion of the $335 million in FTM. According to the foundation, this endeavour will be “available to builders targeting smaller and more specialist audiences.” The Fantom Foundation has recently announced that they will be taking part in the next round of Gitcoin Grants. The foundation will match user donations with 3 million in FTM during the first round, which is scheduled for June 2022. Following rounds, 1.5 million in FTM will be matched.
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