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The Fantom Foundation is committing up to $200 million FTM Tokens to support the launch of Sonic, the latest version of the network.
In a new blog post by Fantom He says Its treasury aims to accelerate the immediate adoption of decentralized applications (dApps) and other Sonic Network partners.
Sonic is Designed To be a high-throughput layer 1 chain with a native layer 2 chain linked to Ethereum (Ethereum).
The Fantom Foundation says the customization underscores its dedication to creating a “strong and dynamic platform and community.”
“Sonic’s ambition is nothing less than to reinvent the future state of blockchain, empowering today’s visionary creators to develop tomorrow’s decentralized applications, and empowering our community to actively participate in creating a vibrant global collaborative ecosystem.
Through strategic investments in first-class infrastructure providers and cutting-edge on-chain tools, we are poised to provide unparalleled support to developers and users alike. The upcoming grants will enable existing Fantom projects and original pilot applications in 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 processing up to 200 million transactions per day, redefining the boundaries 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 first step of the allocations is to “prioritize strategic grants for applications from within the existing Fantom ecosystem and identify leading applications that have expressed interest in Sonic technology,” the foundation says.
At the time of writing, FTM is trading at $0.58.
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