Interpretation of Fantom Upgrade: New L1 Network Sonic Network + Parallelized EVM + Native Token S New Combination

1 months ago
This article is approximately 1480 words,and reading the entire article takes about 2 minutes
This article gives you a quick overview of the major events that have happened in the Fantom ecosystem recently.

Original source: Ash from Signum Capital

Compiled by: Odaily Planet Daily Wenser

Interpretation of Fantom Upgrade: New L1 Network Sonic Network + Parallelized EVM + Native Token S New Combination

Editors Note: On May 18, Fantom community members initiated a series of governance proposals on the Sonic network , the main contents of which include: Sonic will be a brand new L1 chain, and will be bridged to chains such as Ethereum through native L2 cross-chain. According to the results of the first governance vote, FTM holders will be able to migrate to Sonics native token S at a 1:1 ratio when Sonic is created. Using the new bridge architecture, Sonic will provide users and DApp developers with performance that is superior to the existing Opera network. Fantom Operations Ltd promises to continue to provide validator support for Opera, and Sonic Operations Ltd provides support for Sonic. The Fantom Foundation will also allocate hundreds of millions of dollars of FTM from the treasury to support the development of the Sonic ecosystem, including marketing, business development, and migration grants.

With the return of AC and the previous support of Fantom ecosystem for Meme coin, Fantom may become the next destination for capital inflow. In view of this, Odaily Planet Daily will compile the latest views of Signum Capital investor Ash on the Fantom ecosystem to provide readers with a more comprehensive understanding of the Fantom ecosystem.

Fantom is experiencing a renaissance

Fantom is a L1 blockchain network designed to address scalability and transaction limitations, such as cost issues faced by established networks like Ethereum. Launched in December 2019, Fantom positions itself as a high-speed, low-cost alternative for developers building dApps and users seeking to interact with DeFi protocols.

Unveiling the Sonic Network

Just yesterday, @FantomFDN revealed more details about Sonic Network. In short, the main contents include:

  • A new L1 blockchain, Sonic Network, featuring significantly improved network performance and a bridge to Ethereum’s L2 network (to unlock more liquidity);

  • Parallelize EVM (drawing on the hype ideas of Sei, Monad and other networks);

  • A new native token S, where people can choose to convert FTM tokens to S at a 1:1 ratio (providing a two-way conversion bridge);

  • The Fantom Foundation will allocate at least $100 million worth of FTM tokens to support the subsequent development of the ecosystem;

  • Airdrop activities (serving Farmers in the form of staking).

Note: The above is subject to a governance vote (in other words, it can only be implemented after the vote passes).

Fantom Upgrade: From Opera to Sonic

Fantom’s Sonic upgrade is expected to help revive activity on the ecosystem, with the following key takeaways:

(1) New virtual machine;

(2) Improved database;

(3) Optimized consensus.

Key features include:

  • Fantom Virtual Machine (FVM): has higher execution performance and more than 65 times higher TPS processing performance than EVM;

  • Carmen database storage: reduces node storage requirements (up to 90%) and simplifies data retrieval functions;

  • Improved Lachesis consensus mechanism: Improved the performance of the transaction pool used to collect user transaction information.

Interpretation of Fantom Upgrade: New L1 Network Sonic Network + Parallelized EVM + Native Token S New Combination

Sonic VS Opera Network Comparison

The advantages of network upgrade include:

  • 2,000-10,000 TPS (complex vs. simple transaction operations);

  • Sub-second finality;

  • For developers, 90% of Gas can be monetized (previously the ratio was only 15%).

For a detailed introduction to the testnet performance, see the official blog . In addition, Fantom Ecosystem Growth Director @HalscionRose also demonstrated in his tweet how to test the performance of the Sonic new chain.

Other important upgrades include:

  • Cross-chain functionality with minimal trust bridges;

  • Liquidity staking opportunities (inflow of LSD TVL);

  • Better ecosystem funding programs to attract more developers and opportunities to join Sonic Labs (incubated by Fantom ecosystem founder AC @AndreCronjeTech as a mentor);

  • Incentives for new users of the Opera network and on-chain (potentially liquidity mining rewards?);

  • Parallel FVM (one of the market’s favorite narratives right now — a blockchain network with parallel execution capabilities);

  • Regulated stablecoins (e.g. USDC backed by Circle and Wormhole) may be a good path to an eventual native stablecoin.

We can check the network upgrade status here: .

Interpretation of Fantom Upgrade: New L1 Network Sonic Network + Parallelized EVM + Native Token S New Combination

Sonic Upgrade Progress

Understanding the Fantom Ecosystem: Finding Your Own Position and Getting Ready

In short, the Fantom ecosystem currently includes the following niche roles:

a) Mainstream wallets




b) CEX that can withdraw FTM


c) Blockchain browser

d) DEX


@Equalizer 0x











e) DEX Aggregator






f) Lending platform








g) Yield Aggregator




• @PumpkinFTM

h) Derivatives trading platform




i) Meme Coin  



j) NFT Marketplace : @paint_swap  

k) GameFi/GambleFi




l) SocialFi: @ThunderDomeFTM

m) Launchpad Platform



• @ftmlaunchpad



n) Liquidity Staking


@beethoven_x (Stader)  

o) Telegram bot : @MuttskiFTM

p) Token Data Platform

q) Data statistics platform

• Signum Capital Dune data:

• Hashed Dune data:

• Coingecko:


• TokenTerminal:

The message behind Dune’s data

@Lolipopsicles of @Signum_Capital prepared a Dune data dashboard. Based on this dashboard, we can notice some very healthy data about the Fantom ecosystem:

• TVL increased by $80 million since February 2024;

• DEX trading volume reached $7 million in the past 24 hours;

• 175,000 trades completed in the past 24 hours;

• The number of active wallet addresses in the past 24 hours is 19,000.

View the Dune data dashboard here: .

Interpretation of Fantom Upgrade: New L1 Network Sonic Network + Parallelized EVM + Native Token S New Combination

Dune Data Panel

Personal opinion: Fantom upgrade is mixed

Regarding the Fantom network upgrade, the main advantages of this ecosystem include:

• Sonic network upgrade (parallel FVM + improved L1 new chain + new native token being built);

• The rebranding will bring new features to the ecosystem, such as new data graphs, new blockchain networks, and new tokens (just like Antshares was upgraded to Neo, Merit Circle was upgraded to Beam, and Ribbon was upgraded to Aevo);

• The Fantom Foundation and AC show a willingness to reinvigorate the ecosystem and steer Fantom in the right direction again, rather than sitting back and waiting for it to die (many dead L1 networks have well-funded treasuries but do nothing);

• Some interesting consumer applications and native DeFi projects are under construction, which makes Fantom’s on-chain ecosystem worth looking forward to again;

• A healthy incentive plan (including foundation funding + user on-chain rewards) can attract developers and more TVL liquidity, which can be regarded as a marketing budget for user acquisition;

• In addition to Binance, other CEXs are expected to be listed (such as Coinbase and Upbit, similar to the cases of RNDR and MNT, respectively).

In contrast, this network upgrade also exposed some existing problems in the ecosystem:

• The Fantom Opera network’s current on-chain indicators (including active users, TVL, deployed contracts, etc.) are not very healthy;

• As far as I know, there has been no successful case of minting new native tokens for new L1s;

• Expect to see more things related to NFT/GameFi, because the ecosystem has been too focused on DeFi and the Ponzi economics games in 2021 (such as Tomb Finance, Solidly ve 3, 3 and other cases);

• People are still scared and hurt by the cross-chain bridge attack;

• The L1 and L2 network ecosystems that are about to be or have already been launched, such as Blast, Scroll, Berachain, and Monad, will continue to divert attention.

Other supplementary information

Some other related links about Fantom ecosystem:

• Foundation account:

• Website:

• Documentation:

• Fantom Sonic:

People to watch:



@Quan 6888

@juanaxyz 00

• @Nick_SR 5


Some trading accounts that are bullish on FTM:



@OuroborosCap 8



@0x Anteater

Summary: Fantom may be underestimated, and we look forward to its future development

Fantom appears to be a “hated” coin as many are skeptical about whether the “dead” L1 network can be revived.

But Ash does think the Sonic upgrade is bullish because of its promised superior performance, new native tokens, and possible chart trends, plus its nine-digit investment to incentivize ecosystem development. At present, the marketing exposure of the ecosystem is still slightly insufficient, Fantom is undervalued, and most people will continue to ignore its development until they buy it at a higher price later.

Disclosure: Signum Capital and Ash personally hold FTM tokens.

This article is translated from linkIf reprinted, please indicate the source.

ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

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