Fantom (FTM) Reveals Launch of S Token and Investment in Sonic Network

Описание: Learn more: https://www.crypto-news-flash.com/fan...

Fantom, a Directed Acyclic Graph protocol, recently announced a new phase of development for its Sonic Network. This includes the launch of the "S Token" and the establishment of two new entities: Sonic Labs and Sonic Foundation. These developments are designed to enhance the utility of the Sonic Network within the Web3 environment. Sonic Labs will focus on the growth of Decentralized Applications, while the Sonic Foundation will oversee governance and treasury management. Additionally, the Sonic Network, fully compatible with Ethereum Virtual Machine protocols, will foster a 1:1 correlation between the new S Token and Fantom's existing FTM token to boost interoperability. To support these initiatives, Sonic Network has secured $10 million in funding, led by Hashed, with additional backing from notable investors and organizations, aiming to propel Sonic towards self-sustainability and elevate Fantom’s position in the DeFi ecosystem.