Wu said that Fantom announced that it has changed its name to Sonic Labs. Sonic Labs plans to gain support by introducing a large-scale incentive program, and Sonic will use the S token. This new token will enter the ecosystem through large-scale airdrops, simplified staking, incentive programs, etc. Although the transition from Fantom to Sonic Labs has been completed, the launch of Sonic will not be until the fourth quarter. According to the description provided on the Sonic Labs launch page, Sonic is a Layer-1 platform with an Ethereum security gateway.