TechFlow news: According to an official announcement, the Fantom Foundation has revealed detailed plans for its new blockchain network, Sonic Network. Sonic will be a brand-new Layer 1 blockchain, natively bridged to Ethereum. Based on the results of governance voting, existing $FTM token holders will be able to migrate to Sonic's native token $S at a 1:1 ratio upon Sonic's genesis.
Leveraging advanced bridge architecture, Sonic will deliver significantly better performance than the current Opera network for both users and dApp developers. Meanwhile, Fantom’s operating company has committed to continued validator support for Opera. The Fantom Foundation will also allocate hundreds of millions of dollars worth of FTM from its treasury to support the development of the Sonic ecosystem, including marketing, business expansion, and migration grants. In the coming stages, the Foundation will initiate a series of governance votes to ensure community support for the transition plan and to collaboratively shape the future of the Sonic network.
