Sonic Labs, co-founded by renowned crypto figure Andre Cronje, has launched Sonic, a blockchain compatible with both the Solana Virtual Machine (SVM) and Ethereum Virtual Machine (EVM). The mainnet went live on December 13, 2024, marking a significant milestone in the evolution of the Fantom ecosystem.
Sonic S Token to Replace FTM on Major Exchanges
The Sonic S token will replace the existing FTM token on a 1:1 basis and will be listed on 13 major exchanges, including Binance and Bybit. These exchanges will facilitate a smooth transition by supporting automatic token upgrades through integration with the Sonic network.
High-Performance Infrastructure with Enhanced Scalability
Sonic boasts a high-performance infrastructure, capable of processing an impressive 10,000 transactions per second with sub-second block finality. This significant leap in performance is expected to attract developers and users seeking a faster and more efficient blockchain experience.
Sonic Ecosystem Incentivized with 190.5 Million Tokens
The Sonic S token will power the entire Sonic ecosystem. To encourage participation and adoption, Sonic Labs has reserved 190.5 million tokens for incentivization programs.
Fantom Continues to Operate
While Sonic takes center stage, the Fantom network will continue to operate. Currently, Fantom's Total Value Locked (TVL) stands above $168 million according to DefiLlama, demonstrating the continued activity and value within the ecosystem.
Key Takeaways:
This transition marks a significant step forward for the Fantom ecosystem, positioning it to capitalize on the growing demand for high-performance and scalable blockchain solutions.
January 2025, Cryptoniteuae