TL;DR
The Fantom Foundation is committing up to 200,000,000 FTM to the Sonic Labs Innovator Fund to accelerate partner migration for the launch of the new, ultra-fast Sonic network. At the time of writing, this amount is valued at over USD 100,000,000. The fund aims to provide:
- Native application grants
- Strategic grants to dApps
- First-class infrastructure tools and partners for developers and users
This initiative will complement the community-focused 100M+ airdrop program previously announced.
Overview
As the rollout of the four governance votes progresses, the Fantom Foundation, in collaboration with Sonic Labs, is excited to introduce the Sonic Labs Innovator Fund. This fund has allocated up to 200 million FTM from its treasury to fast-track the adoption of dApps and other partners to the Sonic network.
The 200 million+ FTM token allocation is a result of the hyper-efficient treasury management by Andre Cronje and is not derived from any inflationary changes to token supply.
Allocations
Funding from the Sonic Labs Innovator Fund is being utilized to secure top-notch provision partners for the Sonic network. This ensures that Sonic builders have access to the necessary tools and capabilities to excel in today’s competitive market.
We are actively engaging with:
- Dozens of dApps across the industry
- Top-tier infrastructure providers, including on-chain tooling, compliance, native assets, bridge integration, wallets, indexes, and strategic Web2 partnerships
To facilitate this, we will collaborate with strategic angel investors such as Michael (Curve), Stani (Aave), Robert (Compound), Tarun (Gauntlet), and Sam (FRAX), as well as our venture partners Hashed, Signum Capital, and UOB Venture Management.
The initial phase of these allocations will prioritize strategic grants for applications within the current Fantom ecosystem and identify leading applications interested in Sonic technology. Our previous incentive programs, such as the August 2021 program with 370,000,000 FTM allocated, have demonstrated our ability to significantly boost chain TVL from ~$400M to $7.7B within seven months.
Looking Forward
This substantial allocation of up to 200,000,000 FTM highlights our commitment to creating a robust and dynamic platform and community. Sonic’s goal is to revolutionize the future of blockchain, enabling visionary creators to develop the decentralized applications of tomorrow and fostering a vibrant, global cooperative ecosystem.
With strategic investments in top-tier infrastructure providers and cutting-edge on-chain tooling, we are set to offer unmatched support to developers and users. These forthcoming grants will empower both existing Fantom projects and new applications native to the Sonic network. This is just the beginning of our initiatives leading up to the Sonic launch, which promises up to 200 million transactions a day and aims to redefine industry limits.
We invite you to join us on this journey as we build the foundation for this new ecosystem and participate in the rise of Sonic.
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