#Write2earn #Fantom 's #Sonic Network and Bidirectional Token #Migration Set to Boost #FTM Price
The Fantom Foundation is launching the Sonic Network, a new Layer-1 blockchain connected to Ethereum via a Layer-2 bridge. This integration aims to leverage Ethereum's larger user base and liquidity, providing low costs, scalability, and speed.
Sonic Network and Opera Chain Integration
The Sonic Network will enhance the upgraded Opera chain, which now achieves 2,000 TPS with single-second finality, reducing storage needs and costs. This setup is designed to be a next-generation platform for developers, dApps, and communities.
Migration from FTM to $S
Upon the Sonic chain launch, $S tokens will match the supply of FTM tokens. Users can initially migrate FTM to S at a 1:1 ratio, facilitated by a bridge for seamless swaps. Eventually, the migration will become one-way from FTM to $S. This migration is expected to support the ongoing Fantom price rally.
Current Market Performance
Fantom (FTM) has surged nearly 20% in the past week, trading at $0.8595 with a market cap of $2.4 billion, driven by increased total value locked (TVL) on the protocol.
