The Good Tech Companies - Sonic Labs Launches The Sonic Mainnet: EVM-Compatible, Verifiable 10,000 TPS, And Sub-Second Finalit

Episode Date: December 18, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/sonic-labs-launches-the-sonic-mainnet-evm-compatible-verifiable-10000-tps-and-sub-second-finalit. 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 proces Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #sonic, #chainwire, #press-release, #sonic-announcement, #blockchain-development, #evm-compatibility, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Sonic is an EVM-compatible layer-1 blockchain platform that offers developers attractive incentives and powerful infrastructure. 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.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Sonic Labs launches the Sonic Maynet, EVM-compatible, verifiable 10,000 TPS, and sub-second finalit, by Chainwire. Georgetown, Cayman Islands, December 13, 2024, Chainwire, Sonic Labs today announced the launch of the Sonic Maynet, an EVM-compatible Layer 1 blockchain platform that offers developers attractive incentives and powerful infrastructure. With 10,000 transactions per second, TPS, 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 Phantom, Sonic and its S token deliver a significant leap forward from both Phantom 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 fee monetization theme on Sonic Rewards developers with up to 90% of the network fees generated by their applications,

adopting the web-to-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 Feme model. Greater than, recently, we've seen many new chains launch, especially centralized layer 2s greater than where the founders pocket all network fees. This excludes developers from the greater than equation, forcing them to impose extra fees on users to earn revenue. Fiend greater than addresses this by coding developer rewards directly into the chain, ensuring greater than that network fees are shared with developers from the start.

Sam Harcourt, greater than business development lead, Sonic Labs 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. Phantom to Sonic. Upgrading FTM to S Phantom 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. Greater than, we are proud to launch the new Sonic chain as the next evolution of Phantom, greater than building on its impressive track record of nearly 100% uptime since 2019. Greater than Sonic is a revolutionary platform that prioritizes developers, empowering them greater than to create applications with seamless user experiences

while earning a share of greater than network fees. Michael Kong, CEO, Sonic Labs 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 rise of cross-chain activity, secure and trustless bridges are more crucial than ever. Traditional layer 1 and layer 2 bridging solutions often rely on centralized systems, risking billions in potential losses. The Sonic Gateway addresses these challenges as a decentralized and trustless bridge between Ethereum and Sonic, offering security. A fail-safe

ensures user funds can be recovered on Ethereum if the gateway is down for 14 days, guaranteeing asset protection. Speed. Asset transfers are batched efficiently, every 10 minutes from Ethereum to Sonic and hourly in reverse. The fast lane feature lets users pay a small fee to bridge instantly. Decentralization. Operated by Sonic's validators on both chains, the gateway is as decentralized as Sonic itself, preventing centralized manipulation. Greater than, to empower users with effective and trustless control of their assets, we greater than developed the Sonic gateway, which provides liquidity from other platforms. Greater than, to empower users with effective and trustless control of their assets,

we greater than developed the Sonic Gateway, which provides liquidity from other platforms. Greater than powered by our own validators and secured by a fail-safe, the gateway lets greater than users and apps safely leverage the benefits and incentives of bringing new greater than liquidity to Sonic. Bernhard Scholz, Chief Research Officer, Sonic Labs Sonic Labs will expand the gateway beyond Ethereum in the future, enabling direct, decentralized access to multiple blockchain's assets. Sonic Airdrop. Distributing the S token to encourage network growth, Sonic Labs is distributing 190.5 million S tokens through an Airdrop program focusing on both users and developers. The program includes two incentive structures. Sonic Points.

Rewards end users for early adoption, asset holding, and overall engagement. Sonic Gems. Rewards developers for creating applications that drive user activity and innovation. Developers can convert gems to S and share the tokens with their users to incentivize continuous usage. AboutSonic Sonic is an EVM Layer 1 platform that offers developers attractive incentive and powerful infrastructure. The chain provides over 10,000 TPS, sub-second confirmation times, and a secure gateway to Ethereum for enhanced liquidity and as-set security. For more information, users can visit Sonic's official website and follow Sonic's Twitter.

Contact Sonic Labs Press at soniclabs.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.