Fantom (FTM) Relaunches as Sonic Protocol (S) Following Band Protocol Integration

Following a recent update that Band Protocol has integrated push-based oracles on Sonic Labs, CNF highlighted enhancements in real-time data reliability for

After a recent integration of push-based oracles on Sonic Labs, CNF reported enhancements in real-time data reliability for dApps, especially in DeFi and AMMs. Meanwhile, as part of the broader launch, Fantom, now operating under the Sonic Labs name, has officially launched the Sonic Protocol on its mainnet.

As mentioned in a Blockmates article, Fantom has played a significant role in the equation alongside other low-cost, high-speed networks such as Avalanche and Solana.

However, as the blockchain space continues to evolve, it demands relentless innovation and delivery of real value in an increasingly competitive landscape.

The high-performance, Ethereum-compatible blockchain offers groundbreaking features, including processing 10,000 transactions per second and sub-second finality.

This initiative aims to attract developers by providing robust tools for building next-generation decentralized applications (DApps) while integrating seamlessly with Ethereum for broader accessibility.

The launch enables Fantom (FTM) holders to upgrade their tokens to the new “Sonic” (S) tokens via an upgrade portal on a 1:1 basis. This migration allows users to access Sonic’s ecosystem of apps. Free swaps between FTM and S tokens will be available for 90 days post-launch, after which upgrades will become one-way.

Despite these innovations, FTM has seen an 8.47% price drop, trading at $1.23, reflecting market uncertainty about the transition.

With the Genesis Block created for its advanced smart contract chain, Sonic Labs aims to compete in both the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) sectors. Sonic Labs will oversee app development on the protocol, while the Sonic Foundation manages governance and treasury, positioning the project as a promising contender in blockchain innovation.

The Sonic Protocol launch follows months of preparation, including the Blaze testnet, which confirmed its Ethereum Virtual Machine (EVM) compatibility. Meanwhile, Ethereum (ETH) has seen a 4.31% decline in the past day and a 6.31% drop over the past week, trading at $3,658.81.