Fantom Foundation Establishes Sonic Labs Innovator Fund, Will Invest Up to 200 Million FTM
The Fantom Foundation has announced the establishment of the Sonic Labs Innovator Fund, which will invest up to 200 million FTM to attract more innovative mainstream dApp applications to migrate to the Sonic network. Previously reported, Sonic will be a brand new L1 chain and will be bridged to Ethereum and other chains through native L2 cross-chain technology. According to the results of the first governance vote, FTM holders will be able to migrate to Sonic's native token S at a ratio of 1:1 when Sonic is first launched. The Fantom Foundation has stated that it will allocate at least $100 million to support Sonic's development.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Lombard and Eigenlayer partner to bring Bitcoin restaking to Ethereum
Monero’s Price Surge Sparks Market Speculation
In Brief Monero's price surged dramatically earlier this week. Experts warn about the risks of sudden price movements in crypto. Suspicious transactions are under scrutiny in the cryptocurrency market.
Tether Secures $770 Million in Gold Reserves for XAUT Cryptocurrency
In Brief Tether has announced a $770 million gold reserve for XAUT cryptocurrency. Each XAUT token is directly backed by physical gold stored in Switzerland. The company aims to enhance transparency with regular audits and improved disclosure policies.
Market Insights: FLOKI and Solana Shine Brightly in Current Crypto Trends
In Brief Inmortal predicts FLOKI is on a long-term rise with impressive gains. Solana's upcoming weeks will reveal significant market trends. Current performance shows SOL outpacing ETH in recent movements.
Trending news
MoreCrypto prices
More
