According to Foresight News, Fantom tweeted that it has completed its brand rebranding and changed its name to Sonic Labs, and plans to launch a new EVM chain Sonic by the end of this year. The name change is aimed at expanding its influence and advancing its technological development. Sonic Labs will be responsible for developing and promoting DApps related to Sonic. The new EVM chain Sonic is expected to become L1, providing a transaction speed of more than 10,000 TPS and a fast settlement layer confirmed within one second. Its native token S will enter the ecosystem through airdrops, simplified staking, and incentive programs.