Fantom, a Layer-1 blockchain platform, is promoting the concept of "safer memecoins" by allocating $6.5 million in FTM tokens as rewards for developers. The initiative aims to tap into the nearly $50 billion sector.

Fantom Foundation CEO Michael Kong plans to establish a framework for launching "safer memecoins" by implementing both technical and non-technical safeguards to prevent projects from being fraudulent rugs or scams.

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