The Fantom Foundation will establish the Sonic Foundation for the new chain being built

ChainCatcher news, according to Cointelegraph, the Fantom Foundation will establish a new foundation, the Sonic Foundation, to promote the upcoming launch of the new Sonic chain. The Sonic Foundation will be responsible for overseeing Sonic's governance, managing network funds, coordinating partnerships, and developing the DApp ecosystem.

It is reported that Sonic will consist of a new Layer 1 solution and a built-in Layer 2, which will directly bridge EVM-compatible networks to the Ethereum network. Through the architecture of the Sonic Chain, users of the upcoming Sonic network will be able to leverage Ethereum's vast decentralized applications, liquidity providers, and community ecosystem.