Article • over 1 year ago
IoTeX Implements SGD (Sharing of Gas Fees with Developers) to Incentivize Smart Contract Development
Summary
- SGD (sharing of gas fees with developers) is a mechanism designed to incentivize smart contract creation and provide a clearer path to monetization for developers.
- Multiple blockchain protocols, including Ethereum, IoTeX, NEAR, Fantom, and Canto, have explored and implemented SGD.
- SGD has generated approximately $2.5 million in rewards for smart contract developers across live blockchains.
- IoTeX has proposed IIP-15 and gained community approval to implement SGD, offering eligible smart contracts 30% of gas fees.
- Additionally, IoTeX will provide further incentives to developers, such as integration with IoTeX-supported tools.
- IoTeX believes SGD will have a positive impact on the number and quality of dapps being built in Web3 and remains committed to tokenomic innovation.
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