Sonic Labs Collaborates With Sentio, Allocating Over 190M S Tokens To Community
In Brief
Sonic Labs partnered with Sentio to distribute 190,500,000 S tokens to its community and create points tracking system and frontend dashboard.
Decentralized smart contract platform, Sonic Labs announced a partnership with Sentio, a development platform for cryptocurrency applications. This collaboration will facilitate the distribution of 190,500,000 S tokens to the community. Additionally, Sentio will be responsible for developing and managing the points tracking system and frontend dashboard on the Sonic network.
Sentio serves as an indexing service that simplifies point tracking by retrieving historical user positions and updating points with each interaction. Its database processes queries at high speeds, facilitating the efficient onboarding of new users.
Sentio also plans to collaborate with Open Block to oversee all activities and identify malicious actors. Additionally, it aims to develop a high-quality frontend portal where users can view their airdrop points and access comprehensive historical data for all Opera and Sonic applications.
Fantom Rebrands To Sonic Network and Introduces S Token
Previously known as Fantom, the project was recently rebranded to Sonic Network, as announced in May. The rebranding marks a shift in focus towards developing decentralized applications (dApps), while the Sonic Foundation will oversee governance and treasury functions. As part of this transition, the FTM token will be upgraded to the new Sonic native token, S. Existing FTM holders will have the opportunity to convert their tokens to the new S token on a one to one basis.
The Sonic Network is a Layer 1 blockchain with a built-in Layer 2 bridge connected to Ethereum. It supports up to 2,000 transactions per second (TPS) with near-instant finality, representing a notable upgrade from the Fantom Foundation’s existing Opera network, which handles only 200 TPS. The new network is capable of processing over 180 million transactions within a 24-hour period, delivering real-time confirmations in less than a second.
The Sonic protocol is anticipated to launch by November or December this year. The S token is projected to play a key role within the ecosystem through various mechanisms. Among them are airdrops, staking options, incentive programs, and other strategies.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
