Sonic Labs launches Sonic mainnet with EVM compatibility, 10,000 TPS, and sub-second finality

From Investing.com

December 18, 2024 10:00 AM:

Sonic Labs has launched the Sonic mainnet, an EVM-compatible layer-1 blockchain platform with 10,000 TPS, sub-second finality, and developer incentives. The S token offers a one-to-one upgrade from FTM to S, prioritizing developer rewards through Fee Monetization. The Sonic Gateway provides secure, decentralized interoperability with Ethereum.

Fantom and its FTM token are transitioning to Sonic and the S token, with a dedicated upgrade portal for FTM holders. During the first 90 days post-launch, users can freely swap between FTM and S. After this period, upgrades will only be available from FTM to S. Sonic Labs aims to empower developers with seamless user experiences and ongoing revenue.

The Sonic Gateway offers secure, decentralized bridges between Ethereum and Sonic, ensuring asset protection, efficient transfers, and decentralization. The Gateway is operated by Sonic’s validators on both chains, preventing centralized manipulation. Sonic Labs plans to expand the Gateway to support multiple blockchains’ native assets in the future.

Airdrop program by Sonic Labs will distribute 190.5 million S tokens to incentivize network growth. Sonic Points reward end-users for early adoption and engagement, while Sonic Gems reward developers for creating innovative applications. Developers can convert Gems to S and share tokens with users to encourage continuous usage.

Read more at Investing.com: EVM-Compatible, Verifiable 10,000 TPS, and Sub-Second Finality By Chainwire