Launch of the Sonic Community Council
We are pleased to announce the formation of the Sonic Community Council (SCC), an autonomous body of prominent community members dedicated to supporting the Fantom community’s upgrade from the Opera network to the new Sonic chain while helping accelerate overall community growth.
As builders across all verticals prepare to migrate, the council will operate independently but strive to coordinate with the Sonic and Fantom teams.
"We want to be known as a beacon of trust, ensuring a fair and transparent fund distribution, and safeguard of LPs through the Opera to Sonic migration process."
- SamWitch of PaintSwap & Estfor Kingdom
Getting Started
Initially, the SCC will manage the temporary custody of liquidity pools (LPs) for the upcoming Meme Season competition. Those on the SCC will be responsible for the security of LPs and the migration of those LPs to the new Sonic network.
With Meme Season 2024, the SCC will oversee the downside of burnt LPs, which are irretrievable, as well as the locked LPs, which may not unlock at the optimal time for migration to Sonic. The SCC aims to efficiently preserve these LPs for the future, supporting the community’s growth and upgrade to the new chain.
After the launch of the Sonic network, LPs held in the Fantom SCC multi-sig wallet will be migrated to Sonic in coordination with the original memecoin teams (token deployer confirmed via signature). Once ownership is confirmed, the LPs will be broken, migrated (bridged), and deployed on Sonic, deploying the liquidity to an agreed-upon DEX between the contract deployer and the SCC.
Future of the SCC
There are opportunities for the responsibilities delegated to the SCC to expand. This includes, but is not limited to, coordinating with the Sonic team on user-based programs, assisting with developer onboarding, and dApp support with the core goal of making Sonic the hub for builders to build, earn, and connect.
The Sonic Foundation is proud to make an initial contribution of 100,000 FTM to the SCC with the full intent of ongoing support and coordination with quarterly disbursements from our Ecosystem Vault.
Members of the SCC
The initial council is composed of representatives from a wide variety of protocols within the ecosystem, including Hoops from Equalizer Exchange, FantomIndia from Opera node 48, Franz from Beethoven X, SamWitch from PaintSwap/Estfor Kingdom, and Carl from Debita Finance.
Note: The SCC operates independently of the Sonic Foundation/Fantom Foundation and can add or remove members to its multi-sig wallet and allocate funds as it sees fit. There are no members of any official Sonic or Fantom organization as signers on the SCC multi-sig wallet.
Multi-Sig Wallet
Address (3/5 threshold):
https://safe.fantom.network/home?safe=ftm:0xb48c4eBffc738e57479904BB14Cb8F8A2F7AC5Ee
Signers:
- (Equalizer Exchange) Hoops:
0xa064B34DC0aEeF23e48B400DC4b0A3f940B55865 - (Node 48 operator) FantomIndia:
0x7903d1053ebdbe1f50783752f3b0d834213a799a - (Beethoven X) Franz:
0x89c7D6ABA9Cd18D8A93571E583EEAc58Da75acE6 - (PaintSwap/Estfor Kingdom) SamWitch:
0xDef440D3E46078De21634b70caEB103b1E62D9f1 - (Debita Finance) Carl:
0xec4E035Eb1bB0fFd0Eb389857658A479079f9194
The Sonic Foundation is proud of this monumental coordinated effort to empower the community. We look forward to this new chapter to autotomize, preserve, and grow our community in anticipation of the Sonic network and beyond. Stay tuned for more updates and how you can get involved!
For more information, you can follow the SCC on X.
