The Fantom community has passed the first proposal related to the Sonic chain, supporting a 1:1 exchange between FTM and S tokens

The Fantom Foundation announced on platform X that the community has voted in favor of its first proposal for the upcoming Sonic chain, with a support rate of 99%. FTM will be compatible with Sonic's new token S and achieve a 1:1 exchange at launch. Previous news showed that members of the Fantom governance forum initiated a series of governance proposals about the Sonic network, currently soliciting feedback from the community on proposed changes, plans, and initiatives. The proposal pointed out that Sonic will be a brand-new L1 chain and will bridge to chains like Ethereum through native L2 cross-chain. 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.