Sonic Wallet Hits 100K Milestone, Prepares for Mainnet Launch
In Dubai, UAE, on June 30th, 2024, Sonic, the first atomic SVM chain enabling sovereign game economies on Solana, has achieved a significant milestone. The incentivized testnet “Odyssey” has connected over 100,000 wallets and processed more than 17 million transactions in anticipation of the mainnet launch.
Supported by Cypher Capital, a multi-strategy crypto investment firm, Sonic has successfully raised funds to expand its ecosystem leading up to the mainnet launch. This expansion will support growth by increasing its core development, game relations, and marketing teams on a global scale. The current active testnet of Sonic allows users to participate in various on-chain activities, such as sending transactions and playing games that will be available on Sonic.
Chris Zhu, the Founder of Sonic, expressed his gratitude towards Cypher Capital for their support in expanding the ecosystem into new territories. With a strong community network and connections to relevant funds, both parties are working together to bring gaming to Solana.
As the sole Solana Virtual Machine gaming chain, Cypher is assisting Sonic in implementing its go-to-market strategy. Sonic, utilizing a horizontal scaling framework known as HyperGrid, a rollup framework settling on Solana, will enable any game to launch its own blockchain rollup. This will provide flexibility in creating new sovereign game economies.
Harsh Agarwal, the Investment Lead at Cypher Capital, shared his excitement about supporting Sonic in developing the first SVM L2 Gaming Chain. He praised Chris Zhu’s knowledge and vision as a founder, expressing confidence in the goal of enabling gaming economies on Solana.
Sonic is the pioneer atomic SVM chain designed to facilitate sovereign game economies on Solana. By enabling sovereign game economies that rollup and settle on Solana, Sonic is at the forefront of innovation in the gaming industry. Utilizing the HyperGrid framework, Sonic orchestrates a Grid that is unique and efficient.
Cypher Capital is a prominent early-strategy venture firm that focuses on investing in Web3 infrastructure and applications to drive the new digital economy. With a commitment to environmental, social, and governance considerations for every investment decision, Cypher is actively shaping the future of digital currency, public markets, and Web3.
In conclusion, Sonic’s achievement of reaching 100,000 connected wallets and over 17 million transactions on the incentivized testnet “Odyssey” marks a significant milestone in the leadup to the mainnet launch. With the support of Cypher Capital, Sonic is poised to revolutionize the gaming industry on Solana, bringing new opportunities for game developers and players alike.