Key Takeaway:
- Sonic Labs launches bounty program to incentivize developer activity before Sonic network launch.
- The Sonic Boom and Sonic Gems program targets key blockchain verticals like exchanges, payments, gaming, and lending.
- Fantom (FTM) will rebrand to Sonic (S) later this year.
Sonic Labs Bounty Program for Developers
Sonic Labs, formerly known as Fantom, has introduced a bounty program called Sonic Boom and Sonic Gems to encourage developer participation prior to the launch of the Sonic network. This initiative focuses on supporting the development of applications in various blockchain sectors such as exchanges, payments, gaming, and lending.
Boosted Rewards for Users
The Sonic Gems points will enable holders to earn a portion of the new Sonic token. Developers will be rewarded with Gems, which will then be distributed to users. The program will last for nearly 13 weeks, with up to 30 projects receiving Gems as part of a 190.5 million S airdrop. Users can benefit from boosted rewards during this period, with the total reward amounting to approximately $28 million.
Sonic’s Mainnet Launch and Performance
Sonic Labs is gearing up for the mainnet launch of Sonic, following the release of the Sonic upgrade by the Fantom Foundation. The mainnet is designed to provide a layer-1 network with high throughput, capable of processing over 10,000 transactions per second. This represents a significant improvement from the previous 2000 TPS capacity of the Fantom Opera network.
