The foundation behind a major Ethereum (ETH) rival is recapping a huge year of growth in 2022.
In a new blog post, the Fantom Foundation highlights a major growth in daily transactions on the ETH-rival blockchain.
“Throughout 2022, the Fantom network averaged around 500k – 1 million daily transactions, which is a massive and consistent difference compared to 2021.”
The blog post also draws attention to the healthy growth of numerous decentralized applications (dApps) on Fantom (FTM).
“In 2022, we saw many exciting DApps and projects launch on Fantom. Apps like, 1inch, Premia, and UniDex empowered users to take control of their finances in a self-custodial manner, whether that be performing simple swaps or leveraging derivatives. And with a variety of crypto tax software available, users can now outsource the tedious tax reporting from these trades to Crypto Tax Calculator, Blockpit, and ZenLedger”
The Fantom Foundation is also boasting a major tweak to Fantom’s tokenomics, which includes a major reduction in FTM inflation.
“We passed a governance proposal that reduced FTM inflation to 6% by adjusting staking rewards, which means it’ll take a couple more years for FTM to reach its full supply. In 2023, FTM’s inflation will be 1.87%.”
Looking forward to the new year, Fantom wants to incentivize being a dApp developer on the blockchain.
“One of our key priorities is gas monetization, which will provide strong dApp teams with a sustainable income through revenue sharing based on the gas used by their DApps. To make it even easier for users to get started with Fantom, we also aim to introduce gas subsidies, which will allow them to interact with DApps without having to pay gas fees themselves; the cost will be covered by someone else, such as a friend hoping to get more people interested in Fantom.”
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Featured Image: Shutterstock/Vadim Sadovski
