Fantom Foundation Releases 2022 Recap Highlighting Massive Growth in Several Areas

The foundation behind a major Ethereum (ETH) competitor is looking back on a massive year of growth in 2022.

The Fantom Foundation highlights a significant increase in daily transactions on the ETH-rival blockchain in a new blog post.

“Throughout 2022, the Fantom network averaged around 500k – 1 million daily transactions, representing a significant and consistent increase over 2021.”

The blog post also highlights the healthy growth of many decentralised applications (dApps) on Fantom (FTM).

“Many exciting DApps and projects debuted on Fantom in 2022. Apps such as 1inch, Premia, and UniDex enabled users to take control of their finances in a self-custodial manner, whether it was through simple swaps or leveraging derivatives. Users can now outsource the time-consuming tax reporting from these trades to Crypto Tax Calculator, Blockpit, and ZenLedger, thanks to the availability of a variety of crypto tax software. ”

The Fantom Foundation also boasts a significant change to Fantom’s tokenomics, including a significant 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. FTM inflation will be 1.87% in 2023.”

In the coming year, Fantom hopes to incentivize being a blockchain dApp developer.

“One of our top 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 intend 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, in the hopes of attracting more people to Fantom.”