Sonic Labs, formerly known as Fantom, is gearing up to launch the Sonic blockchain by the fourth quarter of this year. The rebranding was officially announced on August 1, 2024, with the company shifting its focus towards developing high-speed blockchain technology.
The decision to rebrand to Sonic Labs comes after an earlier announcement about the establishment of Sonic Labs and the Sonic Foundation. The new blockchain platform aims to address the congestion issues faced by Fantom’s Opera network and enhance the overall user experience by processing more transactions per second.
Sonic Labs has been promoting Sonic as the fastest EVM and a Layer1 platform with secure Ethereum connectivity. The protocol is set to support over 10,000 transactions per second, making it a promising platform for decentralized applications.
One of the projects set to launch on the Sonic chain is Equalizer, a yield-bearing protocol that has already shown success on Fantom. Equalizer plans to bring sustainable yield opportunities to users on Sonic, highlighting the potential for growth and innovation within the ecosystem.
The Sonic protocol is expected to go live by the end of the year, introducing the S token as a key component of the ecosystem. Current FTM token holders will have the option to convert their tokens to the new Sonic native token at a 1:1 ratio, ensuring a smooth transition to the updated network.
It’s important to note that Sonic is not meant to replace Fantom but rather complement and enhance the existing ecosystem. Both networks will coexist, with Sonic bringing new capabilities and opportunities while the Opera chain continues to receive support.
Overall, the rebranding to Sonic Labs signals a new chapter for Fantom and paves the way for innovative blockchain solutions that prioritize speed, scalability, and user experience. The upcoming launch of the Sonic blockchain is highly anticipated within the crypto community, with promising developments on the horizon for decentralized applications and network performance.