Sonic Labs, the team behind the Sonic blockchain, previously known as Fantom, has published an ambitious Litepaper outlining technological advancements and a new token distribution mechanism.
After the release of the Litepaper, the FTM token saw a 48% increase last month, reaching $0.74 and giving the project a valuation of $2.09 billion. The Sonic Blockchain boasts an average block time of 0.26 seconds and claims to handle up to 900 million transactions per day, surpassing even Solana’s recent peak of 40 million transactions per day.
The transition from Fantom to Sonic introduces a new governance token, $S, distributed through various methods such as a points-based airdrop, loyalty rewards for previous Opera users, and a one-to-one migration for existing FTM token holders. This strategy aims to reward both old supporters and new users, fostering a diverse and engaged community from the outset.
A key element of Sonic’s launch strategy is the ‘Sonic Boom’ campaign, a bounty program running until November 4, distributing Sonic Gems to impactful applications on the platform. Gem holders will receive 37.5% of the $S token airdrop, creating an incentive structure connecting developers, users, and the platform.
Sonic Labs believes that with a robust high-capacity infrastructure in place, it can focus on generating demand without being hindered by technological constraints. This article may contain links to Third Party Sites for informational purposes only. CoinMarketCap is not responsible for the content of these sites and does not endorse or recommend them. Conduct your research before making decisions based on the information provided.
SOURCE