Fantom Foundation Commits Over $144,000,000 in FTM to Sonic Labs Accelerator Program

The Fantom Foundation is committing up to 200 million FTM tokens to support the launch of Sonic, the network’s newest iteration.

In a new blog post, the Fantom Foundation says that its treasury is aiming to expedite the immediate adoption of decentralized apps (dApps) and other partners to the Sonic network.

Buy physical gold and silver online

Sonic is designed to be a high-throughput layer-1 chain with a native layer-2 chain linked to Ethereum (ETH).

The Fantom Foundation says that the allocation underscores its dedication to creating “a robust and dynamic platform and community.”

“Sonic’s ambition is nothing less than reinventing the future state of blockchain, empowering visionary creators of today to develop the decentralized applications of tomorrow, and enabling our community to actively co-create a vibrant, global cooperative ecosystem.

With strategic investments in top-tier infrastructure providers and cutting-edge on-chain tooling, we are poised to offer unparalleled support to developers and users alike. The forthcoming grants will empower both incumbent Fantom projects and leading applications native to the new Sonic network. This is the first of many initiatives we intend to launch in the lead-up to the launch of Sonic, a new network capable of up to 200 million transactions a day, redefining the limits of the industry.

We invite you to join us on this journey as we lay the foundation for this ecosystem and participate in the rise of Sonic.”

The Foundation says that the first step of the allocations is to “prioritize strategic grants for applications from within the current Fantom ecosystem and identify the leading applications that have shown interest in the Sonic technology.”

At time of writing, FTM is trading at $0.58.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/houchi

The post Fantom Foundation Commits Over $144,000,000 in FTM to Sonic Labs Accelerator Program appeared first on The Daily Hodl.

About the author

Why invest in physical gold and silver?
文 » A