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Sonic Labs (previously Fantom) is an L1 chain aiming to establish a robust environment for web3 developers to build new applications by offering highly increased chain scalability, as well as support of both Solidity and Vyper coding languages without compromising its level EVM-comaptibility.
It is powered by the native $S token, which will be replacing an old $FTM coin and tradable in a 1:1 ratio, completing all the same functions of $FTM crypto but on Sonic blockchain
On May 23rd, 2024, the platform closed a $10M Strategic funding round from Hashed, UOB Ventures, Signum Capital, and some other investors.