Sonic Labs, formerly known as Fantom, has completed a $10 million strategic financing round for its $S tokens, led by Galaxy. This funding will support Sonic Labs' expansion into the U.S. market and the development of its decentralized finance (DeFi) ecosystem. Sonic Labs operates an EVM-compatible blockchain, capable of processing up to 400,000 transactions per second with sub-second finality, utilizing a DAG-based consensus and Proof-of-Stake mechanism. The partnership with Galaxy is expected to accelerate Sonic Labs' efforts in building institutional-grade DeFi infrastructure. The $S token will be used for transaction fees, staking, and governance within the Sonic ecosystem. Additionally, Sonic Labs introduces the Fee Monetization program, allowing developers to earn up to 90% of transaction fees generated by their applications. The Sonic Gateway provides a decentralized bridge to Ethereum, facilitating secure and efficient cross-chain asset transfers.