Google Cloud will onboard as a Fantom validator.
The Fantom Foundation has inked a strategic partnership with Google Cloud to launch incentives new for Fantom developers.
Announced on May 28, the deal will provide Fantom developers with access to Google Cloud’s infrastructure and “AI capabilities” in a bid to incentivize developers to build decentralized applications on Fantom.
Google Cloud will also onboard as a validator for Fantom’s Opera mainnet, with Google planning on migrating to Fantom’s upcoming Sonic network once it is live. Google Cloud will also offer $200,000 worth of credits over two years to Fantom dApps funded by the Fantom Foundation that migrate over to Sonic.
“By partnering with Google Cloud, Fantom developers gain access to additional resources and capabilities,” said Michael Kong, CEO of the Fantom Foundation. “We always prioritize taking a developer-first approach, and this latest collaboration is the most recent demonstration of courting all resources to enhance the ecosystem experience.”
The integration builds on the existing partnership between Google Cloud and Fantom, with Google Cloud’s BigQuery dataset supporting Fantom blockchain indexing. Fantom Foundation will also adopt Google Cloud’s AI-based threat detection system to bolster the security of its infrastructure.
“Google Cloud is committed to scaling the Web3 ecosystem by empowering founders, enterprises, and developers with secure infrastructure and cutting-edge AI,” said Rishi Ramchandani,” Google’s head of web3 for the APAC region. “Our expanded relationship with Fantom, which includes becoming a validator on its network, builds on this mission.”
Sonic looms
The news comes as Fantom is readying to launch Sonic, a new Layer 1 network.
Sonic will boast the bespoke Fantom Virtual Machine (FVM), which is intended to provide an upgrade over the Ethereum Virtual Machine (EVM) its current Opera mainnet borrowed from Ethereum. The FVM will boast EVM compatibility.
On May 23, Fantom announced the launch of the Sonic Foundation and Sonic Labs entities to support development and maintain the Sonic chain. Fantom also revealed the closure of a $10 million funding round led by Hashed that featured participation from top DeFi developers and angel investors including Stani Kulechov (Aave), Robert Leshner (Compound), and Michael Egorov (Curve).
While Fantom’s governance has already greenlit the launch of Sonic with 99% support, some of the finer details concerning the rollout are still the subject of heated debate.
One topic of particular contention is the plan to migrate Fantom’s FTM token to the new S token, which will allow FTM holders will be able to redeem their tokens for S at a one-to-one ratio.
However, many community members are pushing back against plans to mint additional S tokens to fund airdrops and other growth incentive programs which would dilute existing tokenholders.
“Why do we need [a Sonic Growth Program] if the Fantom Foundation is already allocating a significant 9-figure sum from its own treasury for this?” MichaelZhao asked on Fantom’s governance forum.
“Kind of tone deaf to talk about having hundreds of millions of FTM earmarked and then asking for further dilution,” added Paintball26.