Sonic Labs nears mainnet originate after finishing airdrop snapshot

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Sonic Labs achieves a first-rate milestone with the creation of its genesis block, bringing it closer to the general public mainnet originate.

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

Genesis completed.

Block zero.

Infrastructure deploying.

Public soon.

— Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) December 2, 2024

The Layer 1 blockchain challenge, which ruin up from the Fantom network, indicated the network will streak “public soon” after rising its Genesis block.

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

In step with its website, Sonic will airdrop 190,500,000 $S tokens, which would be exchanged 1:1 with Fantom’s FTM tokens, totaling an fantastic $226 million price of tokens.

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

To boot to the airdrop news, Sonic Labs shared particulars about its upgraded testnet, named Blaze.

The testnet has processed over 655,000 blocks, achieving a ambitious moderate block time of 0.33 seconds, dealing with 8 transactions per second, and a finality time of 0.8 seconds, showcasing the network’s performance improvements because it strikes closer to mainnet originate.

The new chain will feature the Sonic Gateway, a bridge to Ethereum, enabling entry to Ethereum’s liquidity and particular person sinister while conserving high throughput and low transaction costs.