After a long journey through the desert, Fantom is making a resounding return to the forefront with its brand new rebranding: Sonic. This launch of the Sonic mainnet promises much more than just a name change. With advanced features and ambitious promises, Sonic is repositioning the ecosystem on the crypto market chessboard by providing a fast, compatible and innovative solution. Let’s find out what this transformation actually involves.
Fantom reinvents itself with Sonic
The Sonic mainnet is not just a simple marketing facelift: it marks a real technological evolution for Fantom. Featuring EVM compatibility and an impressive capacity to process until 10,000 transactions per second (TPS)Sonic has established itself as an essential platform for users and developers.
Almost instantaneous finality and compatibility with popular wallets like Metamask or OKX add a welcome touch of ergonomics.
Holders of FTM, Fantom’s native token, can now migrate to Sonic to get S tokensat the heart of the new ecosystem. The result is a boon for active and passive users thanks to an airdrop of 190 million Srepresenting 6% of the total supply, or $260 million.
As Sonic Labs CEO Michael Kong summed it up:
“ Sonic represents the culmination of over two and a half years of hard work to optimize the entire Opera channel execution stack “.
Key points to remember:
- Up to 10,000 TPS and finality in less than a second;
- Airdrop of $190 million to reward users;
- Compatibility with popular wallets like Metamask and OKX.
An airdrop and a rise in power on the crypto market
The excitement around Sonic had a direct impact on FTM's stock price. Anticipating the migration to S, the token reached its highest level since 2022with a capitalization exceeding 4 billion dollars. A performance which testifies to the growing enthusiasm for this strategic development.
The Sonic mainnet didn't arrive alone. Supported by a fundraising of 10 million dollars led by Hashed Fund, with heavyweights like Stani Kulechov (Aave) and Robert Leshner (Compound), Sonic clearly has the wind in its sails.
This transformation also gives a facelift to Fantomwhich once peaked at $8 billion in total value locked (TVL) in 2022, and is averaging a respectable $100 million TVL in 2024, according to DeFiLlama.
The staking promise and governance announced soon complete a picture that is already very attractive for investors. One thing is certain: with Sonic, the crypto market has not finished being shaken up.
Finally, if you are curious to dive into this ecosystem or simply learn how to buy Fantom (FTM) in 2024, here is a practical guide: How to buy Fantom (FTM) in 2024. To your wallets!
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
