The Fantom Foundation announced on the X platform that the community has voted to approve its first proposal for the upcoming Sonic chain, with a 99% approval rating. FTM will be compatible with Sonic's new token S, with a 1:1 exchange at launch.
Previously, the Fantom Governance Forum revealed that community members have initiated a series of governance proposals on the Sonic network, and are currently seeking 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-chains. According to the results of the first governance vote, FTM holders will be able to migrate to Sonic's native token S at the time of Sonic's creation at a 1:1 ratio.
The Fantom community voted to approve the first proposal related to the Sonic chain, supporting the 1:1 exchange of FTM and S tokens
2024-05-23 00:33:34
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