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 in favor of its first proposal regarding the upcoming Sonic network, with a support rate of 99%. FTM will be compatible with Sonic's new token S and will be exchanged at a 1:1 ratio upon release.
Previously, the Fantom governance forum showed that community members initiated a series of governance proposals regarding the Sonic network, and are currently seeking feedback from the community on proposed changes, plans, and initiatives.
The proposal states that Sonic will be a brand new L1 chain and will be bridged to other chains such as Ethereum through native L2 cross-chain technology. Based on 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 upon Sonic's genesis.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: Binance launches pre-market spot trading, Caroline Ellison gets sentenced to two years in prison, Hamster Kombat teases roadmap and more
Binance has launched a pre-market spot trading service that uses “actual tokens.”Former Alameda CEO Caroline Ellison was sentenced to two years in prison for her role in the collapse of FTX.Hamster Kombat teased token buybacks, NFTs and the launch of a web app ahead of its highly-anticipated airdrop.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Australia Cracks Down on Crypto: New Regulations Aim to Shield Investors
Friday's end-of-month bitcoin options expiry could trigger significant market volatility: Deribit
Friday’s end-of-month bitcoin options expiry could significantly impact market volatility, according to Deribit CEO Luuk Strijers.Major cryptocurrencies, such as bitcoin and ether, have traded flat over the past 24 hours.
Telegram Wallet temporarily blocked for UK users due to restructuring
Trending news
MoreCrypto prices
More
