Sonic Labs, formerly known as Fantom, has announced a bounty program aimed at incentivizing developer activity ahead of the launch of the Sonic Network.
The Sonic Boom and Sonic Gems rewards program aims to support the first wave of apps on the Sonic platform, according to press releaseThe initiative targets key sectors in the blockchain space, including exchanges, payments, tools, stablecoins, gaming, lending, and more.
Fantom (FTM) will move to Sonic (S) later this year.
Enhanced rewards for users
Sonic Gems are points that allow their holders to earn a share of the new Sonic token. Developers will receive gems that will then be distributed to users.
The rewards program will last for about 13 weeks, ending on November 4. During this period, up to 30 projects will receive gems as part of the 190.5 million S airdrop, accounting for 37.5% of the allocation. Users will have the opportunity to access a variety of apps and take advantage of enhanced rewards.
Sonic Labs said in a statement that the total reward is about $28 million. mail On X.
We are determined to provide the rewards our developer ecosystem deserves, both in the short and long term, and we are excited to launch Sonic Boom to do just that. I can’t wait to see the creative solutions our creators come up with as we prepare to launch the Sonic mainnet later this year.
Michael Kong, CEO of Sonic Labs.
The upcoming Sonic mainnet launch comes after the Fantom Foundation launched the Sonic upgrade, which aims to deliver a high-throughput layer 1 network. Sonic is capable of processing over 10,000 transactions per second, a significant increase from the 2,000 transactions per second possible with the Fantom Opera network.
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