Sonic Labs Launches Sonic Mainnet with 10,000 Transactions Per Second
Sonic Labs has launched its Sonic mainnet, an EVM-compatible layer-1 blockchain designed for developers with advanced features and incentives.
The platform can process up to 10,000 transactions per second with near-instant finality. It includes a native decentralized bridge connecting to Ethereum, facilitating the development of innovative applications.
Developed by the team behind Fantom, Sonic introduces the S token, enhancing capabilities beyond Fantom and FTM while providing rapid liquidity access for users. FTM holders can upgrade to S tokens at a 1:1 ratio easily.
Empowering Developers: Sonic’s Innovative Fee-Share Model
Sonic Labs is changing how blockchain developers are rewarded by redistributing a significant portion of network fees back to them. The Fee Monetization (FeeM) program allows developers to earn up to 90% of the fees from their applications, similar to revenue-sharing models in Web2 platforms. This approach promotes app success, enabling developers to profit as their applications gain user engagement.
Introducing Sonic Gateway: The Decentralized Bridge
Sonic Gateway provides a decentralized solution for cross-chain transactions, addressing vulnerabilities found in many centralized bridges. Key features include:
- Uncompromising Security: A fail-safe mechanism allows fund recovery on Ethereum if the bridge is inactive for two weeks.
- Blazing-Fast Transfers: Standard transfers occur every 10 minutes from Ethereum to Sonic, and hourly in reverse, with an option for instant transfers via the Fast Lane.
- Fully Decentralized Operation: Managed by a validator network across both chains, eliminating single points of failure.
How to Bridge Your Assets:
- Visit the Sonic Gateway platform.
- Connect your Web3 wallet.
- Select the asset for transfer.
- Review the expected amount on Sonic.
- Approve the transaction.
Sonic Labs plans to extend Sonic Gateway's functionality to support additional blockchains, enhancing asset accessibility while maintaining decentralized custody.
Switching from FTM to S: Your Step-by-Step Guide
FTM holders can upgrade to the new S token through an easy-to-use portal on MySonic, ensuring a straightforward 1:1 exchange. Steps include:
- Access the FTM-to-S upgrade portal.
- Connect your Web3-compatible wallet.
- Enter the desired FTM amount for conversion.
- Confirm the corresponding S tokens received.
- Approve and submit the transaction.
The upgrade process is efficient, with S tokens appearing in the wallet shortly after the swap. For the first 90 days, users can swap between FTM and S freely; afterward, only FTM-to-S conversions will be supported.
Unlocking Growth: 190.5 Million S Airdrop
Sonic Labs is distributing 190.5 million S tokens through an airdrop aimed at accelerating growth within the Sonic ecosystem. Rewards are categorized into Sonic Points for user engagement and Sonic Gems for developer-driven innovation. Sonic Points reward users for activities such as early adoption and app usage, while Sonic Gems incentivize developers to enhance user interaction. The distribution will occur over multiple seasons, with the first season concluding by June 2025.
With its innovative technology and developer-focused incentives, Sonic Labs aims to transform the blockchain landscape, promoting scalable and decentralized solutions.
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