Fantom Foundation Allocates $120 Million to Accelerate Migration to Sonic

The Fantom Foundation has unveiled a treasury allocation of 200 million FTM, approximately $120 million USD, to expedite the migration of partners to its new Sonic network. This allocation includes native application grants, strategic grants to decentralized applications (dapps), and first-class infrastructure tools and partners for developers and users. The Foundation is said to be engaging with dozens of dapps across the industry and top-tier infrastructure providers across various domains. This allocation underscores its commitment to building a robust platform and community, and it is only the first initiative planned in the lead-up to the launch of Sonic, a new network capable of handling up to 200 million transactions per day.