- A bounty program has been established by Sonic Labs, formerly known as Fantom, with the goal of encouraging developer participation prior to the launch of the Sonic network.
The Sonic Boom and Sonic Gems bounty program aims to support the first wave of applications on the Sonic platform, according to a press release. The project aims to target important blockchain sectors, such as lending, gaming, stablecoins, tooling, payments, and exchanges.
Increased incentives for users
A portion of the new Sonic token can be obtained by holders of Sonic Gems, which are points. Gems will be sent to developers and thereafter dispersed to users.
The bounty program will end on November 4 after over 13 weeks of operation. Up to 30 projects, or 37.5% of the total, will receive Gems during this time as part of a 190.5 million S airdrop. Customers can take advantage of increased incentives and a range of applications.
According to a Sonic Labs post on X, the entire incentive is almost $28 million.
The Sonic upgrade was introduced by the Fantom Foundation with the goal of offering a fast layer-1 network. Sonic’s next mainnet will come after that. Compared to the 2000 TPS achievable with the Fantom Opera network, Sonic can process over 10,000 transactions per second.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
