{"id":20738,"date":"2022-12-03T09:33:07","date_gmt":"2022-12-03T09:33:07","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/03\/fantom-looks-to-cut-token-rate\/"},"modified":"2022-12-03T09:33:07","modified_gmt":"2022-12-03T09:33:07","slug":"fantom-looks-to-cut-token-rate","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/03\/fantom-looks-to-cut-token-rate\/","title":{"rendered":"Fantom Looks To Cut Token Rate"},"content":{"rendered":"

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Fantom, the blockchain company behind the FTM token<\/a>, is asking holders to vote on whether it should slash its rate of coin burning to reduce token price volatility.<\/p>\n

The company is voting to reduce the token burn rate from 1% per year to 0.25% per year, which would be a 75% reduction in the total number of tokens over time. The vote is being held through the Dashboard governance portal that Fantom unveiled back in April.<\/p>\n

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Fantom also announced its intention to work with developers and projects on hand-holding them through their initial integration process, as well as providing user acquisition campaigns for dApps built on Fantom\u2019s blockchain<\/a> platform.<\/p>\n

Fantom Slashes Rates By 75%<\/b><\/span><\/h2>\n

The company is voting to reduce the token burn rate from 1% per year to 0.25% per year, which would be a 75% reduction in the total number of tokens over time. The vote is being held through the Dashboard governance portal that Fantom unveiled back in April.<\/p>\n

Fantom also announced its intention to work with developers and projects on hand-holding them through their initial integration process, as well as providing user acquisition campaigns for dApps built on Fantom\u2019s blockchain platform.<\/p>\n

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Fantom\u2019s ecosystem is designed to support a range of decentralized applications and smart contracts through an interconnected network of blockchains. It\u2019s powered by the FTM token, which uses the Opera blockchain for processing transactions.<\/p>\n

The Fantom platform is built on four pillars: 1) privacy; 2) high performance; 3) scalability; and 4) interoperability (or cross-chain communication). Its unique consensus mechanism, called Proof-of-Stake-Asynchronous Byzantine Fault Tolerant (PoS\/BFT), allows for high throughput with low latency. According to its white paper, \u201cFantom\u2019s PoS consensus protocol achieves long transaction finality with minimal overhead using BFT protocols over asynchronous networks.\u201d<\/p>\n<\/div>\n