cryptonews.net
Ahead of the launch of a new product from the developers, the team of the Fantom blockchain platform for creating decentralized applications has rebranded and unveiled a new project name — Sonic Labs. According to the company, the update took place in accordance with the roadmap that Fantom CEO Michael Kang spoke about in March 2024. The platform intends to introduce the first-level EVM solution Sonic in the near future.
The main feature of the new product is a performance of 10,000 TPS with a full confirmation time of one second, according to the project’s website. Sonic Labs also promises to implement a large-scale rewards program, although no specific information was provided on this matter. The rebranding affects all aspects of the project’s activities. Together with the launch of the Sonic blockchain, the developers intend to deploy the work of a specialized organization.
Another component of the rebranding is the introduction of its native S token, which will replace the FTM asset currently used by the project. It is planned to be distributed via an airdrop, a rewards program, and staking. The developers noted that they will continue to support the existing Opera network.
Image: The Crypto Times