Fantom Launches Ecosystem Vault, 8.58M Transactions Completed in 20 Days
• Fantom launched an Ecosystem Vault on 20 January to fund projects being built on the Fantom blockchain.
• 8.58 million transactions have been completed on the Fantom network in the past 20 days, though the monthly transaction count has been consistently declining since July 2022.
• On 2 January, the count of active users and new users saw a significant spike, however it has since declined as well.
Fantom, an open-source smart contract platform for digital assets and dApps, announced the launch of the Ecosystem Vault on 20 January. The Vault is a new fund aimed at empowering builders on Fantom by offering a decentralized avenue for funding projects, ideas, and creations through a community-driven decision process. It is a community-controlled fund that is financed by redirecting 10% of the transaction fees from Fantom to the Vault by decreasing the burn rate of the FTM token.
In the past 20 days, 8.58 million transactions have been completed on the Fantom network. This is a significant decrease when compared to the 16.36 million transactions recorded in December. The monthly transactions count on Fantom has been consistently declining since July 2022, plummeting by 68%.
On 2 January, the count of active users and new users saw a significant spike, data from Dune analytics showed. Since then, this has declined as well. As of 20 January, the network saw the creation of 4,900 new addresses with 51,490 daily active addresses.
The launch of the Ecosystem Vault has seen increased demand for FTM, with investors hoping to capitalize on the potential of the platform. The FTM token has seen significant gains since the beginning of the year, and investors can use the Fantom Profit Calculator to determine the profitability of their portfolio.
The Ecosystem Vault is a significant step forward for the Fantom platform and was proposed to be created in July 2022, and voted on and passed in the same month. The Vault provides an opportunity for builders on the Fantom platform to obtain funding for their projects and ideas, and is an invaluable resource for the growth of the platform.