TL;DR
- Fantom Foundation announces the launch of Sonic, a new blockchain with innovative features.
- The launch of Sonic includes the creation of the Sonic Foundation and Sonic Labs to manage the governance and growth of the ecosystem.
- A $10 million strategic financing round led by Hashed, with backing from other prominent investors, has closed.
The Fantom Foundation has unveiled its plans to revolutionize the blockchain space with the launch of Sonic, a new blockchain designed to offer a unique combination of scalability, speed and security.
As announced by Michael Kong, CEO of Fantom Foundation, Sonic will be a Layer 1 platform with a native Layer 2 bridge connected to Ethereum, allowing unprecedented interoperability between both networks.
🚀 Sonic is on the launch pad, and we're excited to provide more details about our upcoming Sonic chain, $S token, and launch of a new strategic funding round.@MichaelFKong's latest blog post sheds more light on the new Sonic organization, slate of innovative new partners, and… pic.twitter.com/R4NHIwcUEX
— Fantom Foundation (@FantomFDN) May 23, 2024
The launch of Sonic not only involves the introduction of new technology, but also the creation of two new entities: Sonic Foundation and Sonic Labs.
The first will be in charge of the governance and treasury management of the Sonic ecosystem, while the second will focus on driving the growth of decentralized applications , partnerships and the network community.
To support this ambitious project, Fantom has closed a $10 million strategic funding round, led by Hashed, one of the leading venture capital firms in the crypto space.
This financial backing will allow Fantom to further expand its ecosystem and develop new initiatives that drive Sonic adoption in the industry.
The launch of Sonic and the consolidation of its ecosystem represents an important milestone on the path to mass blockchain adoption.
With its focus on interoperability, scalability and security, Sonic has the potential to transform a wide range of industries and applications, from real-world assets to high-speed transaction-based games.
