Fantom Rebrands to Sonic Labs, Promises New $S Token by End of 2024

Fantom (FTM) has officially rebranded to Sonic Labs on August 1st. However, the change from native token FTM to new native token $S will happen by the end of 2024

Fantom (FTM) has undergone a rebranding, transforming into Sonic Labs on August 1st. This marks the beginning of a multi-stage process that will culminate in the native token's transition from FTM to $S by the end of 2024.

According to the Fantom team, Sonic Labs will emerge as a new layer-1 player in the market, boasting a focus on modularity, interoperability, and composability. This aligns with the broader trend toward modular blockchain architectures, which aim to enhance efficiency and scalability.

notably, the FTM price has displayed strength with another 8% pump, diverging from the overall market sentiment where most altcoins are either remaining flat or correcting 5-14% as we enter Q4. This performance could bode well for holders, especially considering the broader market conditions.

As for the upcoming token migration, existing FTM holders will be able to convert their tokens to S at a 1:1 ratio during the process. This will ensure a seamless transition for those holding the native token.

Sonic Labs: A New Contender in the Layer-1 Space

This rebranding marks a new chapter for Fantom, which has established itself as a prominent layer-1 blockchain. With Sonic Labs, the project will continue its journey, aiming to compete with other established players in the market. This transition from FTM to $S tokens is expected to be a key milestone in the evolution of Sonic Labs.

While many altcoins experienced a downturn this week, FTM has shown resilience with its recent price increase. This performance stands out in the current market landscape, where volatility remains a constant factor.

A Low-Cap Crypto to Consider: PandaWorld ($PADW)

In other news, PandaWorld, a new meme coin project, has quickly gained attention with its unique blend of gaming, community engagement, and profit-sharing elements. This project might be worth keeping an eye on in Q4, especially for those interested in meme coins and new altcoin projects.

The project has already sold out two presale rounds, raising over $120,000 in just a few weeks. This token is only available through the official presale website before it hits exchanges later this year.

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