Sonic Labs officially launches Sonic mainnet and launches 190.5 million S tokens airdrop plan to incentivize users and developers

By: blockbeats|2024/12/18 12:45:01

Original source: Sonic Labs

Sonic Labs today officially announced the launch of Sonic Mainnet, an EVM-compatible Layer-1 blockchain platform dedicated to providing developers with excellent infrastructure and generous incentives.

Sonic Mainnet supports 10,000 transactions per second (TPS), achieves sub-second finality, and has a built-in decentralized Ethereum access gateway to help developers build next-generation applications on this unparalleled infrastructure and liquidity platform.

Sonic was created by the core team behind Fantom, and its native token S has achieved a major breakthrough compared to Fantom and FTM. Through a one-to-one upgrade mechanism, existing FTM holders can seamlessly switch to S and start using Sonic.

Sonic, with its mature technical experience, has positioned itself as the core of the DeFi ecosystem, innovating developer incentives while providing users with a smooth user experience and massive liquidity access.

Fee Monetization: Developers First

Sonic's fee monetization (FeeM) mechanism draws on the advertising revenue model widely used by platforms such as YouTube in the Web2 era, allowing developers to earn up to 90% of the network fees generated by their applications. Compared to many blockchains that only provide limited developer incentives and focus mainly on value extraction, Sonic's FeeM model effectively solves this problem.

Sam Harcourt, head of business development at Sonic Labs, said, "Recently, we have seen many new chains come online, especially some centralized Layer 2s, whose founding teams pocket all network fee revenue. This model excludes developers and forces them to charge users additional fees to obtain income. The FeeM model writes developer rewards directly into the chain, fundamentally ensuring that network fees can be shared with developers."

On the Sonic chain, developers can get a share of the network fees generated by the traffic and interaction attracted by their applications, providing them with a built-in continuous income mechanism.

From Fantom to Sonic: FTM Upgraded to S

Fantom and its token FTM are officially upgraded to Sonic and S tokens. Sonic Labs provides FTM holders with a one-to-one seamless upgrade service to convert FTM to S through a dedicated upgrade portal on the MySonic platform.

Sonic Labs CEO Michael Kong said, "The launch of Sonic Chain marks a new upgrade for Fantom. We built this revolutionary platform based on its nearly 100% stable operation record since 2019. Sonic prioritizes the needs of developers, enabling them to create applications with smooth user experience and earn revenue sharing from network fees."

During the first 90 days after the launch of the Sonic mainnet, holders can freely exchange between FTM and S tokens through the upgraded platform. After this period, holders will only be able to upgrade from FTM to S.

Sonic Gateway: Secure and decentralized cross-chain interoperability

With the rise of cross-chain activities, secure and trustless cross-chain bridges have become more important than ever. Traditional Layer-1 and Layer-2 cross-chain bridge solutions often rely on centralized systems, which can lead to billions of dollars in potential loss risks.

Sonic Gateway addresses these challenges and provides the following key features as a decentralized, trustless bridge between Ethereum and Sonic:

· Security:Built-in fault protection mechanism. If the Gateway stops operating for more than 14 days, user funds can be restored on Ethereum to ensure asset security.

· Efficient speed:Asset transfers use an efficient batch processing mechanism (processed every 10 minutes from Ethereum to Sonic and once an hour in the reverse direction). In addition, users can enable the Fast Lane function by paying a small fee to achieve instant cross-chain.

· Decentralization:Operated by Sonic's validators on both chains, the Sonic Gateway is as decentralized as the Sonic network itself, avoiding the risk of centralized manipulation.

Sonic Labs Chief Research Officer Bernhard Scholz said, "To enable users to achieve efficient and trustless asset management, we developed Sonic Gateway, a cross-chain bridge that can provide liquidity from other platforms. Through our validator support and built-in security protection mechanisms, Gateway allows users and applications to safely take advantage of the advantages and incentives brought by new liquidity."

Sonic Labs plans to expand Gateway to blockchains beyond Ethereum in the future, providing users with direct decentralized access to native assets on multiple blockchains.

-- Price

Sonic Airdrop: S Token Distribution Program

To promote network growth, Sonic Labs has launched an airdrop program to distribute 190.5 million S Tokens, focusing on incentivizing users and developers. The program includes two incentive mechanisms:

· Sonic Points:Rewards early users, including early adopters, asset holders, and active participants.

· Sonic Gems:Rewards developers by encouraging the development of applications that drive user activity and innovation. Developers can convert Gems into S Tokens and share these tokens with users, incentivizing users to continue using the application.

About Sonic

Sonic is an EVM-compatible Layer-1 platform that provides developers with generous incentives and powerful infrastructure. The chain supports over 10,000 transactions per second (TPS), achieves sub-second confirmations, and enhances liquidity and asset security through a secure Ethereum gateway.

For more information, please visit the Sonic official website and follow Sonic's Twitter account.

This article comes from a contribution and does not represent the views of BlockBeats

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