Fantom blockchain has a new name after rebranding

The renaming of the project follows a rebranding ahead of a new product launch announced by the company's developers.

According to a statement from Fantom's blockchain platform team, the developers will introduce Sonic, a tier one EVM solution. The exact date when the update will take place has not yet been disclosed. It is known that the important event for the project will take place in the near future in accordance with the roadmap that CEO Michael Kong presented in March this year.

The key feature of the update will be improved performance, which will reach 10,000 TPS with a full one-second confirmation time. In addition, Sonic Labs developers have promised to introduce rewards for a wider range of users.

According to Michael Kong, the rebranding has not only affected the name, but also the entire operation of the platform.

Sonic Foundation will be responsible for network management functions and oversee finances, while Sonic Labs will drive growth in dApps, user numbers and partnerships," the CEO said.
Another innovation will be the introduction of the native S token, which will replace the existing FTM project asset. It is planned to be distributed through airdrop, rewards program and staking.