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Foundry has reduced its workforce by 27%, cutting staff from 274 to 200 as part of a strategic realignment to focus on Bitcoin mining operations under Digital Currency Group (DCG). Amid these layoffs, approximately 20 employees were transferred to Yuma, a new decentralized AI startup. The restructuring aims to streamline processes and enhance revenue sources while maintaining its hardware repair line.
In January, Solana ecosystem users will benefit from two significant airdrops: Sonic will distribute 7% of its SONIC token supply on January 7, rewarding TikTok onboarded users, while Jupiter plans to airdrop $625 million worth of JUP tokens to around 2.3 million eligible wallets. Jupiter's tiered airdrop will reward users based on their trading activity, with those accumulating over $800 in trading volume receiving 50 JUP, and those with $14 million in volume getting 20,000 JUP.
Sonic and Injective are collaborating to create the first cross-chain Smart Agent Hub, integrating the Solana and Injective ecosystems. This innovative platform will utilize Sonic’s HyperGrid technology to enable seamless asset transfer and a unified developer experience, fostering new economic opportunities in AI agents across various sectors. Initial testnet deployment is expected in Q1 2025, aiming to revolutionize cross-chain applications in gaming, DeFi, and social platforms.
Sonic, an EVM-compatible layer-1 blockchain, has launched its mainnet, addressing key challenges in the blockchain space. With a Fee Monetization program that redistributes up to 90% of network fees to developers, Sonic enhances incentives while ensuring security through a decentralized bridge connecting Ethereum and Sonic. The platform supports over 10,000 transactions per second, enabling seamless DApp deployment and a user-friendly experience through the MySonic portal.
The Canton of Bern's parliament has approved a motion to explore Bitcoin mining as a means to utilize surplus energy and stabilize the electricity grid, passing with an 85 to 46 vote. The initiative aims to assess unused energy areas and collaborate with Swiss mining companies, despite previous government opposition. Proponents argue that Bitcoin mining can attract investments, create jobs, and support renewable energy development, drawing comparisons to successful models in Texas.
Sonic Foundry, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
foundry cuts workforce by 27 percent to focus on bitcoin mining operations
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developer friendly blockchain sonic launches mainnet to enhance dapp ecosystem
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