According to the Odaily Planet Daily report, the Fantom Foundation announced on the X platform that Sam Kazemian, founder of Frax Finance, became its first angel investor. Frax will deploy its native distribution assets on the first day of the Sonic technology stack. Fantom Foundation CEO Michael Kong said the project is preparing to launch its next-generation product, Sonic. Sonic promises to process 2,000 transactions per second (TPS) with sub-second finality and is expected to launch late this summer or early fall. The team also plans to utilize Sonic as a "shared sequencer" for other L1 and L2 chains.