The Fantom Foundation announced on the X platform that the community has voted in favor of its first proposal regarding the upcoming Sonic network, with a support rate of 99%. FTM will be compatible with Sonic's new token S and will be exchanged at a 1:1 ratio upon release.

Previously, the Fantom governance forum showed that community members initiated a series of governance proposals regarding the Sonic network, and are currently seeking feedback from the community on proposed changes, plans, and initiatives.

The proposal states that Sonic will be a brand new L1 chain and will be bridged to other chains such as Ethereum through native L2 cross-chain technology. Based on 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 upon Sonic's genesis.