Sonic Launches Mainnet with Advanced Blockchain Features and 200 Million S Token Airdrop

by
Alyssa Davidson

Posted: December 18, 2024 12:05 PM Updated: December 18, 2024 2:22 PM

by well

Correction and fact check date: December 18, 2024, 12:05 p.m.

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Sonic, an Ethereum Virtual Machine (EVM)-compatible layer 1 blockchain, announced the launch of its mainnet, offering robust infrastructure and attractive incentives for developers.

With the ability to process up to 10,000 transactions per second, sub-second finality, and a native decentralized gateway to Ethereum, Sonic aims to empower developers to create next-generation applications while providing users with an efficient and seamless blockchain experience. Let’s do it.

FTM holders can now easily upgrade their tokens to S on the Sonic platform 1:1 through the upgrade portal. This upgrade gives you access to Sonic’s wide range of applications. Developers can follow the steps outlined to distribute their apps on Sonic and receive rewards.

To upgrade, FTM holders must connect their Web3 wallet to MySonic, select the amount of FTM they wish to upgrade, confirm the amount of S tokens they will receive, click “Upgrade” and authorize the transaction. Upgraded S tokens will be available soon, giving users full access to the ecosystem. During the first 90 days after mainnet launch, users can freely switch between FTM and S through this portal. After this period, upgrades will only be from FTM to S.

As part of the launch, Sonic is introducing MySonic, an all-in-one portal offering FTM to S upgrades, app navigation, staking, and governance features.

Additionally, Sonic launched Sonic Gateway, a decentralized bridge that facilitates token transfers between Ethereum and Sonic. The bridging process involves three main steps: This means you deposit an asset to the bridge (this takes 10-15 minutes on Ethereum, about 1 second on Sonic), wait for confirmation of the deposit, and then bridge the asset during the next “heartbeat” interval. These intervals, scheduled to occur approximately every 10 minutes for Ethereum to Sonic and every hour for reverse transfers, allow for efficient and cost-effective transfers. Users can choose to pay Fast Lane fees for immediate asset transfer.

The gateway ensures decentralization and security through built-in safeguards. If the gateway stops sending heartbeats for two weeks, the user’s bridged assets will automatically be unlocked on Ethereum. This safeguard ensures that users can always regain control of their assets, even in the unlikely event of a gateway failure. Additionally, Sonic’s validator network, which operates on both Sonic and Ethereum, ensures that gateways remain decentralized and immune from centralized manipulation.

Sonic unveiled a 200 million S token airdrop and Sonic Points to increase user engagement.

With the mainnet launch, Sonic introduced an airdrop of 200 million S tokens, and Sonic Points were created to reward users for their participation on the platform and interaction with blockchain applications.

Sonic Points are designed to encourage meaningful user engagement through rewarding activities such as early adoption, long-term loyalty, asset ownership, and active participation in platform applications. Users can earn Sonic Points by connecting approved assets to Sonic or spending them within the ecosystem through supported apps. The goal of this initiative is to foster an active and engaged community on the Sonic network.