Core Foundation has announced a new Rev+ program aimed at supporting developers and stablecoin issuers in the Web3 space.
What is Rev+
Rev+ represents a first-of-its-kind protocol-level program that directly rewards developers, stablecoin issuers, and decentralized autonomous organizations (DAOs) based on the user value they create.
How Rev+ Works
The program will initially offer projects revenue from user-generated gas fees on their blockchain applications. Once fully launched, projects will be able to earn recurring revenue or participate in a revenue-sharing pool based on their activity and contributions to the Core blockchain. "While the pool may be modest at launch, Rev+ establishes a sustainable, usage-based monetization model designed to grow with Core's network," noted Rich Rines, an initial contributor to Core DAO.
The Need for Collaboration in the Crypto Industry
Cardano founder Charles Hoskinson emphasizes the need for more collaborative economic incentives within the crypto space. He pointed out that the current tokenomics and market structure are adversarial, limiting the growth of the sector. Hoskinson calls for finding tokenomics that allow achieving a cooperative equilibrium.
With the launch of the Rev+ program, Core Foundation aims to change the rules of funding projects in Web3, offering a sustainable monetization model that could be a vital step towards more collaboration in the industry.
