Sonic

Fantom

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Sonic will be the first native integration for on-chain access, enabling developers to a $11 trillion market.</li> 
 <li>The Sonic era is about to begin as the testnet goes live.</li> 
</ul> 
<p>Sonic Labs, previously the Fantom team, has just announced via a post on X that Sonic will be the first native integration for on-chain access to wallet scoring, enabling developers access to a potential $11 trillion market.</p> 
<p>This is a key shift in both technological and social evolution, opening the doors to the unsecured lending global market.</p> 
<p>The founder of HyperChain Capital also highlighted a few hours ago via X that the Sonic era is about to begin and blockchain efficiency and speed will be defined before and after Sonic – the new standard.</p> 
<p>The Sonic testnet went live on September 6, according to the team behind the project who also wrote that play-to-earn testnet games are next.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/0xSonicLabs/status/1832053492304806125/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GWzC8LQagAAy3dy?format=jpg&amp;name=large" alt="Sonic via X" width="1600" height="900" title="Fantom Transition To Sonic - Developers Could Access $11 Trillion Market 12"></a>
 <figcaption class="wp-caption-text">
  Sonic via X
 </figcaption>
</figure> 
<p>2024 marked the debut of the shift from the Fantom Opera network to the newly launched Sonic chain.</p> 
<h2 id="fantom-to-sonic-transition">Fantom to Sonic Transition</h2> 
<p>The transition is not just a technological shift but it also reveals the key role that tokenomics plays in a project’s long-term viability.</p> 
<p><a href="https://x.com/0xSonicLabs" rel="nofollow" target="_blank">Sonic Labs</a> is the newly rebranded Fantom team is the transition involves introducing the Sonic chain and the S token that’s designed to replace FTM token on a 1:1 basis.</p> 
<p>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 allocated in <a href="https://crypto.ro/en/cryptocurrencies/fantom/">FTM</a> tokens to support developers and projects migrating to Sonic.</p> 
<p>Sonic offers new features including the following:</p> 
<ul> 
 <li>Validator rewards</li> 
 <li>Improved staking mechanisms</li> 
 <li>Airdrops for early users</li> 
</ul> 
<p>The complete transition will unfold in the upcoming months.</p> 
<h2 id="what-is-the-sonic-upgrade">What is the Sonic Upgrade?</h2> 
<p>The Sonic upgrade improves everything that Fantom brought to the crypto industry.</p> 
<p>Here’s what this brings new:</p> 
<h3 id="1-speed-boost">1. Speed boost</h3> 
<p>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 the likes of Solana, and considering the latter’s success this cycle, Fantom could be next.</p> 
<p>The speed increase is achieved via the Fantom Virtual Machine.</p> 
<h3 id="2-fvm">2. FVM</h3> 
<p>The Fantom Virtual Machine replaces the old Ethereum Virtual Machine model that performs the following:</p> 
<ul> 
 <li>Converting old EVM bytecode into a new virtual machine format</li> 
 <li>Supporting super instructions</li> 
 <li>Optimizing bundles of commonly occurring transaction types</li> 
</ul> 
<h3 id="3-fantom-validators-more-efficiency-and-speed">3. Fantom Validators – More Efficiency and Speed</h3> 
<p>Fantom validators can execute smart contracts with more efficiency and speed of up to 65x compared to old EVM mechanics.</p> 
<h3 id="4-reducing-storage-requirements">4. Reducing Storage Requirements</h3> 
<p>The Sonic upgrade also reduces storage requirements by 90%.</p> 
<p>The new Carmen database storage tech uses a flat storage mechanism instead of a tree-like structure, allowing:</p> 
<ul> 
 <li>Simplified data retrieving</li> 
 <li>Live pruning</li> 
</ul> 
<p>Live pruning is the ability of validators to discard historical data that is no longer required without disrupting the network, feeding up space, and decreasing storage requirements.</p> 
<p>The new tech is in the testnet phase and we can expect the new Fantom Sonic network to replace the current Fantom Opera Network in Q4 2024.</p> 
<h2 id="incentives-and-airdrop">Incentives and Airdrop</h2> 
<p>Fantom rolled out a strong strategy to bring the hoards of gamblers and builders back to the chain. They will be incentivizing builders with a blast airdrop to those who get accepted to build for Sonic on Sonic. This will increase the dApps.</p> 
<p>Another incentive program is for the developers – the Gas Monetization Program.</p> 
<p>Requirements for rewards:</p> 
<ul> 
 <li>The dApp has to be live for longer than 1 month on the mainnet</li> 
 <li>Developers have to generate river 15,000 transactions per contact</li> 
 <li>Developers need an active multi-sig wallet address</li> 
</ul> 
<p>The Gas Monetization strategy aims to replicate the ad-revenue share that Web2 creators have.</p> 
<h2 id="what-is-fantom">What is Fantom?</h2> 
<p>Fantom is an L1 blockchain created in 2018, and bringing fast and low-fee UX to the crypto industry. Fantom has been at the forefront of crypto tech and it was always backed by great developers.</p> 
<p>By 2019, Fantom teamed up with Binance, and the EVM-compatible Fantom Opera was created.</p> 
<p>By March 2022, Fantom became the second-largest chain for DeFi and TVL topped out at around $8 billion.</p> 
<p>Behind its success were various community-driven apps and the DeFi mastermind known as Andre Cronje. He was behind some of the most high-tech DeFi apps including Yearn Finance and Solidly, the first Ve(3,3) style DEX.</p> 
<p>Now, Cronje is back, TVL is on the rise again and applications in the ecosystem continue to build, while user bases are increasing.</p>

Fantom Transition To Sonic – Developers Could Access $11 Trillion Market

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