There was noting wrong with FTM but I understand the need to rejuvenate and inspire a new generation of Crypto developers in this aging blockchain.
Technical advances and improved performance aside - the sonic Network upgrade for Fantom enables them to re brand and renew tokenomics.
Fantom’s migration to Sonic (network) is now underway, putting the platform under the spotlight which caused FTM to gain more than 17% since last week, representing the hype their network migration caused within the community.
The new Sonic Labs, under leadership of Andre Cronje as CEO, is poised to continue Fantom’s legacy as four core proposals are now underway for the eventual release of the Sonic mainnet.
Four Proposals address; 💵 190.5M $S Airdrop = Airdrops will be distributed as fNFTs that contain $S and are tradeable on marketplaces like @Paint_Swap
🚀 $FTM to $S Compatibility = This proposal approved 1:1 compatibility between the $FTM and $S tokens upon the genesis launch of Sonic.
💰 Ongoing Funding = This proposal enabled minting 47,625,000 S annually for 6 years for network growth. Two programs include #Sonic Spark & Sonic University
👥 Validators/Builders = Validator rewards migrated from Opera to #Sonic, including Apps in GasM can earn up to 90% of gas with a new burn model, Ecosystem Vault funds allocated to @SonicCouncil, and a 14-day staking lock-up period
Full report of Sonic Labs transition can be found at https://messari.io/report/state-of-fantom-q2-2024 Show Less
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