Fantom's Sonic Blockchain Receives Major Funding for Upcoming Launch
Friday, 24 May 2024, 10:03
Fantom's Sonic Blockchain Receives Major Funding
The Sonic Foundation and Sonic Labs, backed by a $10 million funding round led by Korean crypto fund Hashed, are poised to propel Fantom's new Sonic blockchain.
The Sonic Foundation & Sonic Labs Mission
- Network governance & treasury management
- Drive dApps growth, partnerships, and user engagement
Fantom plans to utilize the recent capital raise for strategic growth and ecosystem development.
Key Highlights:
- $10 million funding round closed
- Launch of Sonic blockchain expected late summer or fall
- Technology designed for speed and scalability
Sonic blockchain will incorporate a layer-2 bridge to connect with Ethereum, promising enhanced transaction processing capabilities.
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