Sonic Labs, formerly known as Fantom, has announced a bounty program aimed at incentivizing developer activity ahead of the Sonic network launch.
Sonic Boom and Sonic Gems Program
The Sonic Boom and Sonic Gems bounty program seeks to support the first wave of applications on the Sonic platform. This initiative targets key blockchain verticals including exchanges, payments, tooling, stablecoins, gaming, and lending. Fantom (FTM) will transition to Sonic (S) later this year.
Boosted Rewards for Users
Sonic Gems are points that will allow holders to earn a share of the new Sonic token. Developers will receive Gems, which will then be distributed to users. The bounty program will run for nearly 13 weeks, concluding on November 4. During this period, up to 30 projects will receive Gems as part of a 190.5 million S airdrop, accounting for 37.5% of the allocation. Users will have the opportunity to access various applications and benefit from boosted rewards.
Key Features of the Sonic Network
Sonic will offer a high-throughput layer-1 network capable of processing over 10,000 transactions per second, a significant increase from the 2000 TPS possible on the Fantom Opera network. The mainnet launch is expected later this year.
The Sonic Boom and Sonic Gems programs aim to incentivize developer and user activity ahead of the Sonic mainnet launch. The network is expected to offer high performance and new opportunities for participants.
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