The Fantom Foundation has announced a major rebranding initiative, transitioning from Fantom (FTM) to Sonic Network (S). The rebranding includes the rollout of a new layer-1 blockchain, Sonic Network, which will feature a native layer-2 bridge connected to Ethereum. FTM token holders will be able to migrate their tokens to the new S token at a 1:1 ratio. This upgrade, known as the Sonic upgrade, has resulted in a 20% jump in Fantom DeFi. The new Sonic Network aims to compete with other high-performance blockchains like Solana, focusing on speed and lower fees. The upgrade also includes a parallelised EVM, which is expected to generate significant interest in the blockchain community. Additional features include an airdrop program and the 26.47%/66% Opera Upgrade.
ICYM: $FTM is heading to $1 after $S proposal! - New Layer 1 + native L2 bridge - Airdrop program - 26.47%/ 66% Opera Upgrade - 1 $FTM 👻 = 1 $S 🦔 #Fantom https://t.co/afkH3JQhUB
🚨 Some Major news from yesterday🚨 - $FTM Fantom is building a high-performance L1, Sonic that’ll have a native L2 bridge connected to ETH. There’ll be 1:1 migration of $FTM to $S - Union partner with Stargaze to enable seamless interoperability between ETH NFTs and Cosmos…
Market slow to understand and absorb $FTM -> $S news. 1) New chart and chain name (Sonic), for a new monolithic L1 competing with Solana and move on both speed and fees 2) Parallelised EVM so will get the Monad hype 3) Mostly circulating - if some new tokens are printed (part… https://t.co/lv64O0sCHn
.@FantomFDN $FTM plans to rebrand to Sonic Network (S). Sonic Network will be a new layer-1 chain with a native layer-2 bridge connected to #Ethereum and beyond. Holders of $FTM will have the ability to migrate their tokens for a 1:1 ratio at genesis for the $S token. Fantom… https://t.co/2vDdWOFEn4
The Fantom Foundation has announced the details of its new L1 blockchain Sonic Network, which will be connected to Ethereum through a native cross-chain bridge. FTM token holders will migrate to Sonic's token S at a 1:1 ratio, which can be understood as Fantom 2.0.…
Fantom is rebranding to SONIC -- and $FTM will become $S. I like this a lot -- the rebrand was sorely needed. All the 'haunted house' imagery and memories of Multichain needed to be left in the past. The new tech deserved better. Now it's got it. $S is a great ticker. https://t.co/UCLJeWVxuU
Fantom DeFi jumps 20% as Sonic upgrade rolls out https://t.co/48noJSAQIK