Phantom will focus on expanding the DApp ecosystem in 2023

Phantom will focus on expanding the DApp ecosystem in 2023

A new one that Medium released on Dec. to the shipment DeFi architect Andre Cronje reaffirmed the Phantom (FTM) ecosystem’s goals and priorities for 2023. Cronje, who previously created protocols such as Yearn Finance and Keep3rV1, has also accepted a board member position at Fantom Foundation Ltd and Fantom Operations Ltd, which oversees the acrylic graphics ecosystem of the same name.

“Over the next 12 months, we aim to differentiate ourselves from other Tier 1 solutions while also creating an environment for DApp developers to build sustainable businesses.”

Key points in Cronje’s 2023 Phantom roadmap include gas fee monetization, which will allow revenue sharing for DApps. Phantom DApps will also be able to interact without a wallet needing to pay gas fees itself through gas fee incentives. Cronje also noted that users do not need to have or know about FTM at the time of placement.

Other areas of the “gas reform” include ending the separation between smart contracts and externally owned accounts so anyone can initiate transactions and pay for gas. However, non-FTM tokens will also be eligible to be used as gas fees in the protocol.

Cronje also plans to focus on building the Phantom Virtual Machine and a new storage mechanism. Cronje also used the following statements about the financial management of the protocol:

“As publicly announced, we are in a very sustainable and healthy position compared to the current economic environment and especially the situation in 2018. This shows that we finally need to worry no longer about our existence.”

Cointelegraph reported on December 1, 2022 that Fantom plans to reduce its token burn rate by 75 percent to fund its DApp rewards program. To be eligible for rewards, DApps must have logged 1 million transactions or more, and have spent three months or more on the Fantom Opera network.

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