As a seasoned crypto investor with a strong background in blockchain technology and market trends, I’m genuinely intrigued by the latest developments surrounding Sonic, the new Layer-1 solution from Fantom Foundation. The potential for Sonic to bridge Ethereum directly, enabling seamless access to both networks, is an exciting proposition that could attract a large user base and developers.
The Fantom Foundation has announced that there will be two new entities responsible for the development of their upcoming Sonic blockchain. I, myself, am excited about the Sonic Foundation, which will handle governance, collaborations, and management of the network’s treasury under the leadership of CEO Michael Kong. On the other hand, Sonic Labs will focus on expanding and enhancing the DApps within our ecosystem.
🚀 The countdown has begun for Sonic’s launch from the pad! Michael F. Kong’s recent blog post reveals intriguing insights about our upcoming Sonic chain, $S token, and the initiation of a fresh strategic funding round. Additionally, he shares exciting information on the new organization’s structure and roster of forward-thinking partners.
— Fantom Foundation (@FantomFDN) May 23, 2024
As a crypto investor, I’m excited about Sonic blockchain, a Layer-1 solution that comes with its own integrated Layer 2. This game-changer will create a direct link between the Fantom network and Ethereum, allowing users to easily tap into Ethereum’s vast ecosystem. The sub-second finality of Sonic significantly enhances both speed and security compared to Fantom’s Opera network.
As a researcher studying the blockchain ecosystem, I can share that Sonic is intending to build a native Layer 2 bridge connecting to Ethereum. This move aims to bring in users and developers from Ethereum and other similar networks. In the near future, we’ll witness the launch of a new token, denoted by $S. Notably, this token will be equivalent to Fantom’s existing $FTM token on a 1:1 basis following a recent positive governance decision.
“Sonic has raised a strategic funding round of $10 million from the foundation, along with investments from Hashed, UOB Ventures, Signum Capital, Aave Foundation, and several notable angel investors.”
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2024-05-24 02:12