The fund will be used for native application grants, strategic grants to decentralized applications, and the development of infrastructure tools for developers and users.

The Fantom Foundation, the organization behind the Fantom platform, has announced a significant financial commitment to support the launch of Sonic, a new ultra-fast network. This initiative is part of the Sonic Labs Innovator Fund, aiming to enhance the capabilities and adoption of the Sonic network.

Financial Commitment
On June 20, the Fantom Foundation disclosed that it would commit up to 200 million Fantom (FTM) tokens, equivalent to approximately $120 million, to facilitate the development and growth of the Sonic network. The funds will be used to attract and secure partnerships with developers and companies, fostering the creation and expansion of decentralized applications (DApps) and essential tools on the Sonic platform.

### Use of Funds
The allocated funds will primarily focus on:
- Strategic Grants: Providing financial support to applications already within the Fantom ecosystem, particularly those showing strong interest in utilizing Sonic technology.
- Developer Incentives: Encouraging developers to create applications directly on Fantom and develop DApps that leverage Sonic’s capabilities.
- Partnership Development: Engaging with partners who can provide crucial tools and services to enhance the Sonic network.

Governance and Management
The newly established Sonic Foundation will oversee the governance and treasury management of the Sonic network. This includes orchestrating partnerships and developing the DApp ecosystem, ensuring the smooth operation and strategic growth of the Sonic Chain.

Technological Advancements
Sonic will feature a new layer-1 solution and a built-in layer-2 bridge, enabling direct compatibility with the Ethereum Virtual Machine (EVM) and seamless integration with Ethereum. This architecture will allow Sonic users to access Ethereum’s extensive ecosystem of DApps, liquidity providers, and community resources.

Previous Incentive Programs
The Fantom Foundation has a history of incentivizing project development within its ecosystem:
- Safer Memecoins Initiative (May 2023): Allocated $6.5 million in FTM tokens to reward developers focusing on creating safer memecoins.
- Gas Monetization Program: Launched to pay developers a portion of the gas fees generated by their applications, specifically 15% of the total gas fees.

Strategic Vision
According to Michael Kong, CEO of the Fantom Foundation, and the Fantom development team, the Sonic initiative is a strategic move to enhance Fantom’s technological infrastructure and broaden its ecosystem. By bridging to Ethereum and leveraging Sonic’s ultra-fast capabilities, Fantom aims to attract more developers and users, fostering innovation and growth within the blockchain space.

The Fantom Foundation's commitment to supporting Sonic’s launch reflects its ongoing dedication to advancing blockchain technology and providing robust incentives for developers and partners. This strategic investment is expected to significantly enhance the capabilities and adoption of the Sonic network, positioning it as a key player in the blockchain industry.