Georgetown, Cayman Islands, December 13, 2024, Chainwire

Sonic Labs at present introduced the launch of Sonic Mainnet, an EVM-compatible layer 1 blockchain platform that gives engaging incentives and powerful infrastructure for builders.

With 10,000 transactions per second (TPS), sub-second finality, and a local decentralized gateway, Sonic allows builders to construct next-generation functions with unparalleled infrastructure and liquidity. Masu.

Developed by the identical staff as Fantom, Sonic and its S Token represents a significant development from each Fantom and FTM. Present FTM homeowners can seamlessly begin utilizing Sonic by means of a 1:1 FTM to S improve course of.

Sonic is positioning itself as a DeFi hub by leveraging confirmed experience to revolutionize developer incentives and supply customers with a frictionless consumer expertise and entry to large liquidity. Masu.

Monetization by means of charges: Builders come first

Sonic's payment monetization (FeeM) takes the Web2 advert income technique popularized by platforms like YouTube and rewards builders with as much as 90% of the community charges generated by their functions. Whereas many blockchains supply restricted developer incentives and primarily concentrate on worth extraction, Sonic successfully addresses this concern by means of its FeeM mannequin.

“Not too long ago, we’ve got seen a lot of new chains launch, particularly centralized layer 2, the place founders pocket all community charges. Compelled to cost extra charges to customers, FeeM addresses this concern by coding developer rewards straight into the chain, making certain that community charges are shared with builders from the start. ” — Sam Harcourt, Enterprise Improvement Chief, Sonic Labs

Sonic Chain builders obtain a portion of the community charges generated by the visitors and engagement their functions entice, offering a built-in mechanism for recurring income.

From Fantom to Sonic: Upgrading from FTM to S

Fantom and its FTM tokens are formally transitioning to Sonic and S tokens. Sonic Labs is facilitating the transition by offering a devoted improve portal on MySonic that permits FTM holders to seamlessly improve FTM to S on a 1:1 foundation.

“Constructing on our spectacular monitor file of close to 100% uptime since 2019, we’re proud to launch the brand new Sonic Chain as the following evolution of Fantom. A revolutionary platform that permits builders to create functions with a seamless consumer expertise. We earn a portion of the community payment.” — Michael Kong, Sonic Labs CEO.

For the primary 90 days after Sonic's mainnet launch, homeowners are free to modify between FTM and S utilizing the improve portal. After this era, holders can solely improve from FTM to S.

Sonic Gateway: Safe distributed interoperability

With the rise of cross-chain exercise, safe and trustless bridges are extra vital than ever. Conventional Layer 1 and Layer 2 bridging options typically depend on centralized techniques, risking billions of {dollars} in potential losses.

Sonic Gateway addresses these challenges as a decentralized trustless bridge between Ethereum and Sonic, offering:

• security: Failsafe ensures that customers' funds might be recovered on Ethereum even when the gateway is down for 14 days, making certain asset safety.
• velocity: Asset transfers are effectively batched (each 10 minutes from Ethereum to Sonic and each hour vice versa). The Quick Lane characteristic permits customers to bridge immediately by paying a small payment.
• Decentralization: The Gateway, operated by Sonic's validators on each chains, is decentralized, like Sonic itself, stopping centralized operations.

“To allow customers to handle their property successfully and trustlessly, we developed Sonic Gateway to offer liquidity from different platforms. Powered by proprietary validators and fail-safe This gateway, which is secured by, permits customers and apps to securely leverage the advantages and incentives that convey new liquidity to Sonic.” — Bernhard Scholz, Chief Analysis Officer, Sonic Labs.

Sonic Labs plans to increase the gateway past Ethereum sooner or later, permitting direct decentralized entry to native property on a number of blockchains.

Sonic Airdrop: S Token Distribution

To foster community progress, Sonic Labs is distributing 190.5 million S tokens by means of an airdrop program targeted on each customers and builders. This program contains two incentive buildings.

• sonic level: Reward finish customers for early adoption, asset retention, and total engagement.
• sonic gems: Rewards builders who create functions that drive consumer exercise and innovation. Builders can convert Gems to S and share the tokens with customers to encourage continued utilization.

About Sonic

Sonic is an EVM layer 1 platform that gives engaging incentives and a strong infrastructure for builders. The chain presents over 10,000 TPS, sub-second affirmation occasions, and a safe gateway to Ethereum, enhancing liquidity and asset safety.

For extra info, customers can go to Sonic's official web site and observe Sonic on Twitter.

contactsonic lab[email protected]

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