tl;dr
Fantom protocol has rebranded to Sonic Labs, signaling a shift in focus towards developing Decentralized Applications (DApps) and introducing the fastest Ethereum Virtual Machine (EVM) called Sonic. The transition includes the introduction of a new native token, S token, and a planned incentive prog...
Fantom protocol has rebranded to Sonic Labs, signaling a shift in focus towards developing Decentralized Applications (DApps) and introducing the fastest Ethereum Virtual Machine (EVM) called Sonic. The transition includes the introduction of a new native token, S token, and a planned incentive program. Notable supporters and investors of Sonic Labs include prominent figures from the crypto industry.
The successful transition comes amidst preparation to launch the fastest Ethereum Virtual Machine (EVM) dubbed Sonic. According to the description provided on the Sonic Labs splash page, Sonic is a Layer-1 platform with a secure gateway to Ethereum.
Sonic Labs plans to gain support by introducing a massive incentive program. Unlike Fantom which utilized FTM as its native token, Sonic will use the S token. This new token will enter the ecosystem via a massive airdrop, simplified staking, incentive programs and other means. Though the transition from Fantom to Sonic Labs is complete, the launch of Sonic is not coming until the 4th quarter. Some of the top supporters and investors of Sonic Labs are CEO of Compound Robert Leshner, CEO of Aave Stani Kulechov, CEO of Frax Finance Sam Kazemian, and some others.
In the broader Ethereum landscape, SEC-approved Ethereum ETFs are experiencing substantial outflows after an initial period of strong performance. Directed Acyclic Graph (DAG) protocol Fantom has made a significant move that will change its trajectory going forward. The protocol announced on its official X page that it has fully rebranded to Sonic Labs. Noteworthy, the name of the X page is no longer Fantom but now “Sonic Labs.”
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Dividend Yield: 5.2%
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52-Week Range: $132.66 - $168.00
Relative Strength Index (RSI): 0.168
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EPS (ttm): $135.95
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