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Sonic Labs to Launch Layer 1 Blockchain and S Token Airdrop

Sonic Labs to Launch Layer 1 Blockchain and S Token Airdrop

Cryptoticker2024/12/03 05:30
By: Prasanna Peshkar
S-3.03%FTM0.00%

Sonic Labs  has been busy with big updates! They just launched an upgraded “testnet 2.0” called Blaze, and now they’re getting ready to make their Layer 1 blockchain public. To kick things off, they’re planning an S token airdrop and taking a snapshot soon. In this article, we’ll explain what’s happening and why it’s exciting for blockchain fans. Let’s get started!

Sonic Labs Hits a Major Milestone

 

Sonic Labs, a new Layer 1 blockchain project branching out from the Fantom network , has hit a major milestone—it just produced its very first block of transactions! The team called this moment “Genesis” and shared the news in a post on X, hinting that the network could go public soon.

 

Earlier, they stirred up excitement with a playful post saying they were “Summoning the Sonic mainnet.”

This big step comes shortly after Sonic Labs rolled out Blaze, their upgraded “testnet 2.0” built for EVM-compatible applications. Blaze has already impressed with its lightning-fast performance, clocking an average block time of 1.17 seconds and achieving finality in just 0.85 seconds for its first 221,000 blocks. It’s clear the team is aiming high—they’re working towards sub-second finality and the ability to handle 10,000 transactions per second, which could redefine what high-performance blockchains can do.

Sonic Labs comes from the same roots as Fantom’s Opera blockchain, which launched back in 2019. The project has already secured $10 million in funding from big names like Stani Kulechov, Robert Leshner, Michael Egorov, and Tarun Chitra. Plus, with Andre Cronje on board as the chief technology officer, Sonic Labs is positioning itself as a serious player in the blockchain space.

The team had previously indicated that the mainnet launch was expected by late November or early December, and it seems they’re on track to meet that timeline.

On Sunday, Sonic Labs announced it had taken a “snapshot” for allocating tokens in its upcoming airdrop. Once launched, the tokens on the Sonic network will carry the ticker $S and will be exchangeable 1:1 with Fantom’s FTM tokens .

The new blockchain will also introduce the Sonic Gateway, a bridge to Ethereum . This bridge will allow Sonic to tap into Ethereum’s vast liquidity and user base while still delivering high-speed transactions and low fees. Additionally, the chain will feature a shared sequencer, enabling it to create and secure blocks for multiple rollups simultaneously, boosting efficiency and scalability.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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