FTM (Fantom) - Bullish exit soon ?
Fantom wants to cut token burn rate by 75% to fund DApp rewards program
According to a new proposal dated Dec. 1, directed acrylic graph network Fantom seeks to implement an affiliate program for its decentralized application (DApp) developers with network gas fees. To fund this venture, the Fantom community has proposed slashing the protocol’s current FTM token burn rate from 20% to 5%. In supporting the proposal, Fantom developers wrote:
“We take what works in web2 and restructure it to fit the network’s priorities, which means taking the ad monetisation model and extending it to gas monetisation for performing dApps that manage to attract a steady stream of users.”
The development team further elaborated that Fantom’s Opera network [native DApp builder] “is not directly competing against Youtube or Twitter,” but seeks to “attract and retain high-grade talent continuously” in the Web3 space. To qualify for the potential incentive, DApps must have recorded 1,000,000 or more transactions and have spent three months or above on the Fantom Opera network. Upon approval, developers can then claim 15% of the total gas fees spent on their DApp.
We expect a further trading range between 0,1590 and 0,2820 (Wedge pattern) before expecting a bullish exit opening a potential recovery at 0,3910 before 0,50
- - The long-term trend analysis show potential towards 0,66 as long as 0,08 Strategic support remains valid
- - The mid-term element as RSI and Moving average are mixed (= Range)
- - The Fibonacci key level at 0,1590 remains valid and acts as key support
Trade Idea : Buy - Conviction : (Medium)
- - Target 2 : 0,50 (140%)
- - Target 1: 0,3910 (85%)
- - Buy: in setback at 0,21
- - Stop: 0,1590 (-40%)
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