Sonic Labs Launches High-Performance Mainnet: EVM-Compatible, 10,000 TPS, and Sub-Second Finality

George Town, Cayman Islands, Dec. 18, 2024 – Sonic Labs has officially launched its much-anticipated Sonic mainnet, an EVM-compatible layer-1 blockchain platform designed to offer developers a powerful infrastructure and attractive incentives. With cutting-edge features such as 10,000 transactions per second (TPS), sub-second finality, and decentralized interoperability with Ethereum, Sonic is poised to revolutionize the blockchain space and empower developers to build next-generation applications.

A Leap Forward from Fantom: Seamless Transition to Sonic

Sonic is developed by the same team behind Fantom, with the introduction of the S token marking the next step in the evolution of Fantom and its FTM token. Existing FTM holders can seamlessly transition to the Sonic platform via a one-to-one upgrade process, making it easier than ever for the community to join the new network.

Michael Kong, CEO of Sonic Labs, shared, “We are proud to launch Sonic as the next evolution of Fantom, building on its proven track record of nearly 100% uptime since 2019. Sonic is a revolutionary platform that prioritizes developers, allowing them to create seamless user experiences while earning a share of the network fees.”

The transition to Sonic is made simple with a dedicated upgrade portal on MySonic, where FTM holders can exchange their tokens for S on a one-to-one basis during the first 90 days of the mainnet launch. After this period, FTM holders can only upgrade to S.

Fee Monetization (FeeM): A New Era for Developer Incentives

Sonic introduces Fee Monetization (FeeM), a revolutionary model that allows developers to earn up to 90% of the network fees generated by their applications. Unlike other blockchains that often focus solely on value extraction, Sonic ensures developers are rewarded for creating value within the ecosystem by directly coding revenue-sharing into the chain.

Sam Harcourt, Business Development Lead at Sonic Labs, explained, “Many new chains, especially centralized layer-2s, allow founders to pocket all network fees, forcing developers to impose extra fees on users to generate revenue. FeeM changes this by sharing network fees directly with developers, ensuring they are rewarded from the start.”

With FeeM, developers on the Sonic chain are incentivized to drive traffic and engagement to their applications, providing a built-in mechanism for ongoing revenue generation.

Sonic Gateway: Decentralized and Secure Interoperability

As cross-chain activity continues to rise, the need for secure and decentralized bridges between networks becomes even more pressing. Sonic addresses this need with the Sonic Gateway, a trustless bridge between Ethereum and Sonic that guarantees security, speed, and decentralization.

Key features of the Sonic Gateway include:

• Security: A fail-safe mechanism ensures that if the Gateway is down for 14 days, user funds can be recovered on Ethereum, offering asset protection.

• Speed: Transfers from Ethereum to Sonic are batched every 10 minutes, with reverse transfers occurring hourly. The Fast Lane feature allows users to pay a small fee for instant transfers.

• Decentralization: The Gateway is operated by Sonic's validators on both chains, ensuring decentralization and preventing any centralized control or manipulation.

Bernhard Scholz, Chief Research Officer at Sonic Labs, stated, “The Sonic Gateway provides liquidity from other platforms, empowering users with a secure, decentralized way to access and control their assets. It is operated by our own validators and secured by a fail-safe, ensuring that users can safely leverage new liquidity in the Sonic ecosystem.”

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

Sonic Airdrop: 190.5 Million S Tokens Up for Grabs

To kickstart the growth of the Sonic network, Sonic Labs is distributing 190.5 million S tokens through an airdrop program designed to reward both users and developers. The airdrop is structured in two main components:

• Sonic Points: Rewards for end-users who engage with the platform early, hold assets, and participate in the ecosystem.

• Sonic Gems: Rewards for developers who create applications that drive user activity and innovation. Developers can convert Sonic Gems into S tokens, which can then be shared with users to incentivize continued engagement.

Sonic: A Game-Changer in the Blockchain Ecosystem

Sonic is more than just a blockchain; it is an ecosystem designed to empower developers, reward innovation, and offer users seamless access to decentralized applications. The platform’s 10,000 TPS and sub-second finality, combined with the FeeM model and the Sonic Gateway, set it apart as a high-performance blockchain that is ready for the future of DeFi and beyond.

About Sonic

Sonic is an EVM-compatible layer-1 blockchain that offers developers a robust infrastructure with powerful incentives. With its ability to handle 10,000 transactions per second, sub-second confirmation times, and a decentralized gateway to Ethereum, Sonic is redefining the blockchain landscape and positioning itself as the future of decentralized finance.

As Sonic Labs continues to build on its success, the integration of Ethereum’s native assets and expansion of its decentralized gateway are just the beginning. With a strong focus on security, liquidity, and developer incentives, Sonic is poised to become a leader in the blockchain space.