According to the official news of the Fantom Foundation, the Fantom Foundation announced the establishment of the Sonic Labs Innovator Fund, which will invest up to 200 million FTM to attract more innovative mainstream dApp applications to migrate to the Sonic network. Previously reported that Sonic will be a new L1 chain, and through the native L2 cross-chain bridge to Ethereum and other chains, according to the results of the first governance vote, FTM holders will be able to migrate to Sonic's native token S at a 1:1 ratio when Sonic is created. The Fantom Foundation has said it will allocate at least $100 million to support the development of Sonic.