According to Odaily, Fantom Foundation is set to establish a new foundation, the Sonic Foundation, to facilitate the launch of the upcoming Sonic Chain. The Sonic Foundation will be responsible for overseeing Sonic's governance, managing network funds, coordinating partner relationships, and developing the DApp ecosystem.
The Sonic Chain will reportedly consist of a new Layer1 solution and an in-built Layer2, which will bridge EVM-compatible networks directly to the Ethereum network. With the architecture of the Sonic Chain, users of the soon-to-be-launched Sonic network will be able to leverage Ethereum's vast decentralized applications, liquidity providers, and community ecosystem.