Sonic Labs says its Layer-1 blockchain will be unveiled ‘soon’.
Sonic Labs says its layer-1 blockchain will officially launch “soon” after Sonic reaches Genesis — the first completed transaction block on the chain.
“Genesis accomplished. Block Zero. Infrastructure deployment. Official soon,” Sonic Labs said in a December 2 X post.
Sonic is a speed-focused Ethereum virtual machine-compatible blockchain that offers innovators “attractive incentives and a powerful infrastructure.”
It is seen as a successor to the existing Phantom Opera network – rebranding to Sonic to improve network performance while reducing post-time and transaction fees.
Since 2019, Sonic Labs has been receiving support from the Fantom Foundation, a non-profit organization that developed the Fantom decentralized financial ecosystem.
Source: Sonic Labs
The move closer to a public launch comes just days after Sonic revealed an updated “testnet 2.0” version of Blaze on December 1st.
The screenshot of the S token airdrop is complete
Meanwhile, Sonic announced that it has completed the “Snapshot” airdrop allocation of its “S” tokens on December 2nd.
Approximately 200 million S tokens will be airdropped, which can be exchanged for Fantom (FTM) tokens on a 1:1 basis. S Airdrops can be earned by playing Sonic's Arcade games like Coinflip, Rock, Paper and Scissors, Plinko and Mines.
However, those games were officially shut down as Sonic prepared for its public network launch.
Sonic works on a proof-of-stake method, which allows S holders to stake their tokens.
Sonic is the fastest EMM. It aims to be a chain.
The Sonic blockchain achieved transaction latency – the time it takes to make a transaction irreversible – in 720 milliseconds on the testnet – making it comparable to the fastest EVM blockchains like Solana and Base.
According to André Cronje, the company's chief technology officer who previously served as Phantom's chairman and technical advisor in mid-2018, Sonic is aiming to become the go-to blockchain for developers, as they account for 90% of transaction fees generated by the network. And 2022.
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The Phantom Foundation announced a $120 million FTM grant for Phantom developers to move their projects from Phantom to the Sonic Network in June.
Just over a month ago, on May 23rd, the Sonic Foundation announced its launch.
The Sonic Foundation is tasked with overseeing Sonic's governance, managing the treasury, organizing partnerships, and developing a robust decentralized financial ecosystem.
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