Georgetown, Cayman Islands, December 13, 2024, Chainwire
Sonic Labs today announced the launch of Sonic Mainnet, an EVM-compatible layer 1 blockchain platform that provides attractive incentives and powerful infrastructure for developers.
With 10,000 transactions per second (TPS), sub-second finality, and a native decentralized gateway, Sonic enables developers to build next-generation applications with unparalleled infrastructure and liquidity. Masu.
Developed by the same team as Fantom, Sonic and its S-Token represents a major advance from both Fantom and FTM. Existing FTM owners can seamlessly start using Sonic through a 1:1 upgrade process from FTM to S.
Sonic is positioning itself as a DeFi hub by leveraging proven expertise to revolutionize developer incentives and provide users with a frictionless user experience and access to massive liquidity. Masu.
Monetization through fees: Developers come first
Sonic's Fee Monetization (FeeM) takes the Web2 ad revenue strategy popularized by platforms like YouTube and rewards developers with up to 90% of the network fees generated by their applications. While many blockchains offer limited developer incentives and focus primarily on value extraction, Sonic effectively addresses this issue through its FeeM model.
“Recently, we have seen a number of new chains launch, especially centralized layer 2 where founders pocket all network fees. Forced to charge additional fees to users, FeeM addresses this issue by coding developer rewards directly into the chain, ensuring that network fees are shared with developers from the beginning. ” — Sam Harcourt, Business Development Lead, Sonic Labs Sonic Chain developers receive a portion of the network fees generated by traffic, increasing the engagement their applications attract and providing a built-in mechanism to generate recurring revenue.
From Fantom to Sonic: Upgrading from FTM to S
Fantom and its FTM tokens are officially transitioning to Sonic and S tokens. Sonic Labs is facilitating the transition by providing a dedicated upgrade portal on MySonic that allows FTM holders to seamlessly upgrade FTM to S on a 1:1 basis.
“Building on our impressive track record of near 100% uptime since 2019, we are proud to launch the new Sonic Chain as the next evolution of Fantom. ” — Michael Kong, Sonic Labs CEO, Sonic's first 90s after mainnet launch. For days, the owner will upgrade the portal. After this period, owners can only upgrade from FTM to S.
Sonic Gateway: Secure distributed interoperability
With the rise of cross-chain activity, secure and trustless bridges are more important than ever. Traditional Layer 1 and Layer 2 bridging solutions often rely on centralized systems, risking billions of dollars in potential losses.
Sonic Gateway addresses these challenges as a decentralized trustless bridge between Ethereum and Sonic, providing:
Security: Failsafe ensures that user funds are recovered on Ethereum even if the gateway is down for 14 days, ensuring asset protection. Speed: Asset transfers are efficiently batched (every 10 minutes from Ethereum to Sonic and every hour in the reverse direction). The Fast Lane feature allows users to bridge instantly by paying a small fee. Decentralized: Operated by Sonic's validators on both chains, the gateway is as decentralized as Sonic itself, preventing centralized operations. ” To give users effective and trustless control over their assets, we developed Sonic Gateway, which provides liquidity from other platforms. It is powered by proprietary validators and protected by failsafes, allowing users and apps to safely take advantage of the benefits and incentives of adoption. New fluidity to Sonic. ” — Bernhard Scholz, Sonic Labs Chief Research Officer Sonic Labs plans to expand the gateway beyond Ethereum in the future, enabling direct decentralized access to native assets on multiple blockchains.
Sonic Airdrop: S Token Distribution
To foster network growth, Sonic Labs is distributing 190.5 million S tokens through an airdrop program focused on both users and developers. This program includes two incentive structures.
Sonic Points: Reward end users for early adoption, asset retention, and overall engagement. Sonic Gems: Rewards developers who create applications that drive user activity and innovation. Developers can convert Gems to S and share the tokens with users to encourage continued usage. About Sonic
Sonic is an EVM layer 1 platform that offers attractive incentives and a powerful infrastructure for developers. The chain offers over 10,000 TPS, sub-second confirmation times, and a secure gateway to Ethereum, enhancing liquidity and asset security.
For more information, users can visit Sonic's official website and follow Sonic on Twitter.
Contact Sonic Labspress@soniclabs.com
This article was originally published on Chainwire
