December 18, 2024 – George Town, Cayman Islands
Sonic Labs today announced the launch of the Sonic mainnet, an EVM-compatible layer-one blockchain platform that offers developers attractive incentives and powerful infrastructure.
With 10,000 TPS (transactions per second), sub-second finality and a native, decentralized gateway to Ethereum, Sonic empowers developers to build the next generation of applications on unparalleled infrastructure and liquidity.
Developed by the same team behind Fantom, Sonic and its S token deliver a significant leap forward from both Fantom and FTM.
Through a one-to-one upgrade process from FTM to S, existing FTM holders can seamlessly start using Sonic.
Sonic leverages proven expertise to establish itself as a DeFi hub by revolutionizing developer incentives while providing users with smooth user experiences and access to vast amounts of liquidity.
Fee monetization Developers come first
FeeM (Fee Monetization) on Sonic rewards developers with up to 90% of the network fees generated by their applications, adopting the Web 2.0 ad revenue strategies popularized by platforms like YouTube.
While many blockchains offer limited developer incentives and primarily focus on value extraction, Sonic addresses this issue effectively through its FeeM model.
Sam Harcourt, business development lead at Sonic Labs, said,
“Recently, we’ve seen many new chains launch, especially centralized layer-twos where the founders pocket all network fees.
“This excludes developers from the equation, forcing them to impose extra fees on users to earn revenue.
“FeeM addresses this by coding developer rewards directly into the chain, ensuring that network fees are shared with developers from the start.”
Developers on the Sonic chain receive a share of network fees generated by the traffic and engagement their applications attract, offering a built-in mechanism for ongoing revenue.
Fantom to Sonic Upgrading FTM to S
Fantom and its FTM token are officially transitioning to Sonic and the S token.
Sonic Labs is facilitating the transition by offering a dedicated upgrade portal on MySonic that allows FTM holders to seamlessly upgrade their FTM to S on a one-to-one basis.
Michael Kong, CEO of Sonic Labs, said,
“We are proud to launch the new Sonic chain as the next evolution of Fantom, building on its impressive track record of nearly 100% uptime since 2019.
“Sonic is a revolutionary platform that prioritizes developers,…
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