Sonic Labs Announces the Launch of the Sonic Mainnet, an EVM-Compatible Layer-One Blockchain Platform

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.

Sonic mainnet goes live, offering developers up to 90% of network fees December 18, 2024 – George Town, Cayman Islands

Sonic Labs, the team behind the upcoming EVM-compatible layer-one blockchain platform Sonic, has announced the launch of the Sonic mainnet.

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.

As the network grows and generates more fees, a portion of these fees will be allocated to the Sonic Labs team to cover operational costs and contribute to the long-term sustainability of the Sonic ecosystem.

Fantom to Sonic – Upgrading FTM to S

As part of the broader vision to advance the blockchain landscape, Sonic Labs is facilitating the transition from Fantom and its FTM token to the new Sonic chain and the S token.

To ensure a smooth and accessible upgrade path for FTM holders, Sonic Labs has launched a dedicated upgrade portal on MySonic.

This portal 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, empowering them to create applications with seamless user experiences while earning a share of network fees.”

During the initial 90 days after Sonic’s mainnet launch, holders can freely swap between FTM and S using the upgrade portal.

After this period, holders will only be able to upgrade from FTM to S.

Sonic Gateway – Secure, decentralized interoperability

With the increasing demand for cross-chain applications and the rise of centralized bridging solutions, concerns have been raised regarding the potential for billions in losses due to hacks or mismanagement.

To address these challenges and provide users with secure and trustless cross-chain capabilities, Sonic Labs has developed the Sonic Gateway.

The Gateway serves as a decentralized and trustless bridge between Ethereum and Sonic, offering the following key features:

Bernhard Scholz, chief research officer of Sonic Labs, said,

“To empower users with effective and trustless control of their assets, we developed the Sonic Gateway, which provides liquidity from other platforms.

“Powered by our own validators and secured by a fail-safe, the Gateway lets users and apps safely leverage the benefits and incentives of bringing new liquidity to Sonic.”

Sonic Labs will expand the Gateway beyond Ethereum in the future, enabling direct, decentralized access to multiple blockchains’ native assets.

Sonic airdrop – Distributing the S token

To foster network growth and align incentives with the community, Sonic Labs is distributing 190.5 million S tokens through an airdrop program that focuses on both users and developers.

The program includes two incentive structures.

About Sonic

Sonic is an EVM layer-one platform that offers developers attractive incentives and powerful infrastructure.

The chain provides over 10,000 TPS, sub-second confirmation times and a secure gateway to Ethereum for enhanced liquidity and asset security.

For more information, users can visit Sonic’s official website and follow Sonic on X.

Contact

Sonic Labs