Fantom Foundation announces a major upgrade with Sonic, leading to enhancements in scalability and governance, while also introducing radical changes to liquid staking and grants programs.
The Fantom Foundation’s announcement marks a significant leap forward in blockchain technology and governance. The unveiling of Sonic technology, combined with a new governance proposal, sets the stage for a transformative journey towards enhanced scalability, security, and user experience. This landmark development is set to redefine the standards of decentralized finance (DeFi) and blockchain infrastructure.
Fantom’s Sonic technology represents a remarkable evolution from the previous Opera network, boasting an impressive capacity to process 2,000 transactions per second (TPS) at sub-second finality. This substantial enhancement reflects a monumental leap from the previous 200 TPS achieved by the Opera network. Sonic technology not only ensures lightning-fast transaction speeds but also fortifies the network’s security protocols, providing users with enhanced confidence and reliability.
New Governance Proposal: Empowering Community-Centric Decision-Making
Fantom Foundation has outlined a comprehensive governance proposal designed to empower the community and drive inclusive decision-making. The proposal encompasses several pivotal initiatives aimed at enhancing interoperability, simplifying staking mechanisms, and bolstering overall network security.
Key highlights of the governance proposal include the implementation of a trust-minimized bridge with native Ethereum access, simplified staking procedures, and the introduction of liquid staking tokens (LSTs) to foster increased DeFi activity and total value locked (TVL). Furthermore, the foundation is set to expand its Sonic Labs grant program to support developers in creating innovative applications across various domains such as gaming, DeFi, social media, streaming, and distributed AI.
the governance proposal also includes an rewards campaign to express gratitude to existing users for their support while incentivizing participation in the new chain. The proposal additionally outlines plans for the introduction of supersets, parallel FVM, ZK execution scaling, and the integration of a canonical stablecoin, all of which are poised to further elevate the efficacy and functionality of the Fantom ecosystem.
The Future of Fantom: Pioneering the Next Era of Blockchain Innovation
With the upcoming launch of the new chain and the avant-garde governance framework, Fantom is well-positioned to embark on a transformative journey that sets new benchmarks for blockchain technology and community engagement.
