Sonic Labs has launched its Sonic mainnet, a layer-1 blockchain platform designed to enhance the developer experience and provide robust infrastructure.
Sonic aims to become a leading hub for decentralized finance (DeFi) applications. With a processing capability of over 10,000 transactions per second (TPS) and sub-second confirmation times, Sonic offers a seamless transition for existing Fantom users.
Sonic's Fee Monetization (FeeM) model prioritizes developers by allowing them to earn up to 90% of the network fees generated by their applications. This creates a sustainable ecosystem where developers can thrive, addressing the issue of many new blockchain projects benefiting founders at the expense of developers.
For existing Fantom holders, the transition to Sonic is straightforward. Sonic Labs has established a dedicated upgrade portal on MySonic, enabling users to convert their FTM tokens to the new S token on a one-to-one basis. This upgrade process will be available for the first 90 days following the mainnet launch.
Sonic Labs has developed the Sonic Gateway, a decentralized and trustless bridge connecting Ethereum and the Sonic mainnet. The Gateway offers a secure and efficient means of transferring assets between the two platforms, with a fail-safe mechanism to recover user funds on Ethereum if the bridge experiences downtime for 14 days. The Sonic Gateway also facilitates efficient asset transfers, batching transactions every 10 minutes from Ethereum to Sonic and hourly in the reverse direction.
To incentivize network growth and participation, Sonic Labs is distributing 190.5 million S tokens through an airdrop program targeting both users and developers. This initiative includes Sonic Points and Sonic Gems, which reward end-users for early adoption and engagement, and incentivize developers for creating applications that drive user activity and innovation.
Sonic Labs aims to create a sustainable and thriving environment for all participants by aligning incentives with user and developer interests. With its high transaction throughput, rapid confirmation times, and focus on rewarding developers, Sonic is positioned as a significant player in the DeFi space.