The Fantom Foundation announced via a blog post on Monday that it has launched Sonic Labs, an incubator for developers to build innovative dApps ready for the Sonic mainnet.
Sonic Labs will award up to 5 projects from a 1,000,000 FTM funding pool along with mentorship from the Fantom co-founder, Andre Cronje. The Fanto, Foundation added that Sonic Labs strives to provide support for developer teams with innovative applications to fully utilize the groundbreaking capabilities of the Fantom Sonic tech stack.
Fantom is building a programmable platform on a directed acyclic-graph-based distributed ledger. Fantom’s FTM coin is up by 3% in the last 24 hours and is currently trading at $0.3311.