- Transition from Fantom to Sonic
- What the Sonic Upgrade Brings
- Initiatives and Airdrops
Sonic Labs, previously known as the Fantom team, announced that Sonic would be the first native integration for on-chain wallet scoring, enabling developers to access a potential $11 trillion market.
Transition from Fantom to Sonic
The transition from Fantom to Sonic is not just a technological shift; it also highlights the key role of tokenomics in a project's long-term viability. Sonic Labs, formerly the Fantom team, are introducing the Sonic chain and the S token, designed to replace the FTM token on a 1:1 basis. The Sonic network is an ultra-fast L1 blockchain, and this transition began following an announcement in June 2024, which also included the launch of a $120 million fund in FTM tokens to support developers and projects migrating to Sonic.
What the Sonic Upgrade Brings
The Sonic upgrade enhances everything that Fantom has brought to the crypto industry. The first novelty is the increase in throughput on the chain, with speeds of over 2,000 TPS and single-second finality. This places Fantom on par with Solana. The speed increase is achieved via the Fantom Virtual Machine (FVM), which replaces the old EVM model. FVM converts old EVM bytecode into a new virtual machine format, supports super instructions, and optimizes bundles of commonly occurring transaction types. Fantom validators can execute smart contracts with more efficiency and speed, up to 65x faster than old EVM mechanics. Storage requirements are also reduced by 90% due to the Carmen database storage tech.
Initiatives and Airdrops
Fantom has launched a strong strategy to attract developers and users to the new network. They will conduct airdrops for early users and reward participants for development efforts. Another program focuses on developers – the Gas Monetization Program, offering rewards for dApps that have been live on the mainnet for more than a month and generate over 15,000 transactions per contact.
The Sonic upgrade brings significant changes and improvements to the Fantom ecosystem, promising to elevate blockchain to a new level of speed and efficiency.
