The Fantom community voted to approve the first Sonic chain-related proposal, supporting the 1:1 exchange of FTM and S tokens

The Fantom Foundation announced on the X platform that the community has voted to approve its first proposal for the upcoming Sonic chain with 99% support. FTM will be compatible with Sonic's new token S, and will be exchanged 1:1 when it is released. Earlier news, the Fantom governance forum showed that community members have initiated a series of governance proposals on the Sonic network, and are currently soliciting community feedback on proposed changes, plans and initiatives. The proposal states that Sonic will be a brand new L1 chain and will be bridged to chains such as Ethereum through native L2 cross-chain bridging. According to the results of the first governance vote, FTM holders will be able to migrate to Sonic's native token S at a 1:1 ratio at the time of Sonic's genesis. Using the new bridge architecture, Sonic will provide users and DApp developers with performance that is superior to the existing Opera network. Fantom Operations Ltd promises to continue to provide validator support for Opera, and Sonic Operations Ltd will provide support for Sonic. The Fantom Foundation will also allocate hundreds of millions of dollars of FTM from its treasury to support the development of the Sonic ecosystem, including marketing, business development, migration grants, etc. Next, the Foundation will initiate a series of governance votes to ensure community support for the proposed changes and jointly shape the future of the Sonic network, including airdrops, liquidity, additional grants, etc.