#Innovation & #Launches
#Fantom Foundation creates Sonic Foundation labs (2 minute read)
Fantom has announced it will create the Sonic Foundation and Sonic Labs to support "Sonic", a new blockchain that will connect to the Ethereum ecosystem via a layer-2 bridge. The Fantom Foundation has successfully raised $10 million to bolster Sonic's ecosystem growth. It expects Fantom users to completely migrate from the Fantom chain to the Sonic chain (due to higher security and speed).
#EtherFi Unveils Plans For Credit Card Tied To Restaking Holdings (3 minute read)
Leading restaking protocol EtherFi has announced EtherFi Cash, a new credit card associated with an onchain account. Users can pay using USDC holdings or borrowing USDC against their EtherFi portfolio. Any interest accrued can be paid off using eETH staking rewards. Card pre-orders will be available in July and shipped in September.
Ethereum's Next Upgrade: Pectra (1 minute read)
Ethereum's next hard fork, Pectra, consists of updates to the Prague execution layer and Electra consensus layer. It will be released in Q1 2025 and feature PeerDAS data availability sampling to improve rollup scaling and upgrades to the EVM Object Format (EOF) to support a better UX. It should help to alleviate pressure on the networking layer and support increased blob demand.
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