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Ecosystem
Home » Ecosystem » Sonic Labs nears mainnet launch after completing airdrop
snapshot


SONIC LABS NEARS MAINNET LAUNCH AFTER COMPLETING AIRDROP SNAPSHOT

by
Estefano Gomez
Dec. 2, 2024


SONIC LABS ACHIEVES A MAJOR MILESTONE WITH THE CREATION OF ITS GENESIS BLOCK,
BRINGING IT CLOSER TO THE PUBLIC MAINNET LAUNCH.


Photo: Box Mining


KEY TAKEAWAYS

 * Sonic Labs completed its first block of transactions, marking progress toward
   its mainnet launch.
 * Following the news, Fantom’s FTM token soared 20%, making Sonic Labs’ airdrop
   of 190.5 million $S tokens worth over $226 million.

Share this article



Sonic Labs announced its new blockchain produced its first block of
transactions, marking a key step toward its mainnet launch.

> Genesis achieved.
> 
> Block zero.
> 
> Infrastructure deploying.
> 
> Public soon.
> 
> — Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) December 2, 2024

The Layer 1 blockchain project, which split from the Fantom network, indicated
the network will go “public soon” after creating its Genesis block.

On Sunday, Sonic Labs posted on X that they had completed part of their snapshot
for the token airdrop allocation.



According to its website, Sonic will airdrop 190,500,000 $S tokens, which can be
exchanged 1:1 with Fantom’s FTM tokens, totaling an astounding $226 million
worth of tokens.

Following the announcement, Fantom’s FTM token experienced a gain of over 20%,
rising from $1 to $1.20.

In addition to the airdrop news, Sonic Labs shared details about its upgraded
testnet, named Blaze.

The testnet has processed over 655,000 blocks, achieving an impressive average
block time of 0.33 seconds, handling 8 transactions per second, and a finality
time of 0.8 seconds, showcasing the network’s performance improvements as it
moves closer to mainnet launch.

The new chain will feature the Sonic Gateway, a bridge to Ethereum, enabling
access to Ethereum’s liquidity and user base while maintaining high throughput
and low transaction costs.

Share this article


Disclaimer


TRENDING NEWS

Pudgy Penguins’ PENGU token launches tomorrow with Binance listing and airdrop
Ecosystem Dec. 16, 2024
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Regulation Dec. 10, 2024
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Markets Dec. 13, 2024
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Press Release Dec. 17, 2024
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Press Release Dec. 17, 2024



TRENDING NEWS

Pudgy Penguins’ PENGU token launches tomorrow with Binance listing and airdrop
Ecosystem Dec. 16, 2024
Ripple’s RLUSD stablecoin receives final NYDFS approval
Regulation Dec. 10, 2024
Nasdaq expected to announce MicroStrategy’s inclusion in Nasdaq-100 today
Markets Dec. 13, 2024
Promeet raises $3.1M in pre-seed funding to transform creator monetization
Press Release Dec. 17, 2024
Moonray set to launch token generation event on Bybit
Press Release Dec. 17, 2024
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cryptobriefing.com Open in urlscan Pro 2606:4700:20::6819:1177 Public Scan

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