The fund will be used for native application grants, strategic grants to decentralized applications, and the development of infrastructure tools for developers and users.
The Fantom Foundation, the organization behind the Fantom platform, has announced a financial commitment to support the launch of Sonic, a new ultra-fast network.
On June 20, the Fantom Foundation announced that it is committing up to 200 million Fantom (FTM) tokens worth about $120 million to help developers and companies move their projects to Sonic as part of the Sonic Labs Innovator Fund.
The funds will be used to find and secure partners who can help build and grow the Sonic network. These partners include developers creating apps directly on Fantom, developers making decentralized applications (DApps) and partners providing crucial tools and services.
