Fantom Rebrands as Sonic Labs, Native Token 'S' Launch in Q4

Fantom Rebrands as Sonic Labs, Native Token 'S' Launch in Q4

Fantom Rebrands to Sonic Labs Layer 1 blockchain Fantom (FTM) has officially rebranded to Sonic Labs. This rebranding marks a significant change for the project, which has been operating under the Fantom name since 2018. Sonic Network and Native Token 'S' Alongside the rebranding, Sonic Labs has introduced its own blockchain network, Sonic Network. This network will feature a native token known as 'S'. The S token is expected to play a crucial role within the Sonic ecosystem, being utilized for airdrops, staking, and incentive programs. Token Launch in Q4 While the Sonic Labs rebranding has already taken place, the launch of the S token is anticipated in Q4 of this year. The Fantom Foundation previously passed a governance proposal outlining a 1:1 FTM↔S token migration. This means that FTM holders will be eligible to receive an equivalent amount of S tokens once the migration process is complete. Future Prospects The rebranding to Sonic Labs and the launch of the S token represent significant developments for the Layer 1 blockchain. Sonic Labs aims to build a robust and scalable ecosystem that empowers developers and users alike. The S token will play a pivotal role in this ecosystem, providing a means of value transfer, staking, and participation in governance.