Odaily Planet Daily News Fantom Foundation will set up a new foundation, the Sonic Foundation, to promote the launch of the upcoming new Sonic chain. The Sonic Foundation will be responsible for overseeing Sonic's governance, managing network funds, coordinating partnerships, and developing a DApp ecosystem. It is reported that Sonic will consist of a new Layer1 solution and a built-in Layer2 that can bridge EVM-compatible networks directly to the Ethereum network. Through the architecture of Sonic Chain, users of the upcoming Sonic network will be able to take advantage of Ethereum's huge ecosystem of decentralized applications, liquidity providers, and communities. (Cointelegraph)