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 assist the launch of Sonic, the community’s latest iteration.

In a brand new weblog publish, the Fantom Foundation says that its treasury is aiming to expedite the instant adoption of decentralized apps (dApps) and different companions to the Sonic community.

Sonic is designed to be a high-throughput layer-1 chain with a local 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 lower than reinventing the longer term state of blockchain, empowering visionary creators of at present to develop the decentralized purposes of tomorrow, and enabling our group to actively co-create a vibrant, international cooperative ecosystem.

With strategic investments in top-tier infrastructure suppliers and cutting-edge on-chain tooling, we’re poised to supply unparalleled assist to builders and customers alike. The forthcoming grants will empower each incumbent Fantom initiatives and main purposes native to the brand new Sonic community. That is the primary of many initiatives we intend to launch in the lead-up to the launch of Sonic, a brand new community able to up to 200 million transactions a day, redefining the bounds of the business.

We invite you to be a part of us on this journey as we lay the muse for this ecosystem and take part in the rise of Sonic.”

The Foundation says that step one 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 buying and selling at $0.58.

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