ChainCatcher news, according to official sources, the DEX project Sushi has announced the launch of Sonic Labs. It will provide users with token swapping features and offer liquidity for v2 and v3 pools on Sonic.

ChainCatcher news, according to official sources, Sonic Labs (formerly Fantom) announced that its Sonic Gateway is now live, allowing users to bridge USDC, EURC, WETH, and FTM from Ethereum to Sonic.In addition, Sonic Labs also announced a partnership with Immunefi to launch a $2 million bug bounty program.

ChainCatcher news, Sonic Labs posted on X stating that they are upgrading the tokenomics through four successful governance proposals for Fantom, which includes an airdrop of approximately 200 million S tokens. At launch, the circulating supply of S is about 2.88 billion, with an initial total supply of 3.175 billion, allowing for a 1:1 migration; six months after launch, the network will utilize a unique 9-month linear burn mechanism to mint 6% of the initial total supply to extend the airdrop activity to reward users/developers.Additionally, six months after launch, the network will begin to mint 1.5% of the initial total supply annually over six years to fund growth, while annually burning unused S to ensure effective use; starting four years after launch, the network will mint 1.75% annually to permanently reward validators. All unused ecosystem growth tokens will be accounted for and burned annually. By 2031, the maximum expansion cap for S is 15% (excluding block rate rewards), during which various burn mechanisms are expected to significantly reduce the rate of expansion.

ChainCatcher news, Andre Cronje, co-founder of Sonic Labs (formerly Fantom), shared on the X platform that despite adhering to all regulations, he has been in tough discussions with regulators, including the U.S. Securities and Exchange Commission (SEC), for nearly two years.He also pointed out that user preferences have changed, and now many people prefer teams and products over immutable code. Cronje concluded that builders face a tough choice: either commit to decentralization and immutability, risking blame, regulatory hurdles, and lack of returns; or accept corporatization, licensing, and controlled improvements to ensure continuous progress.

ChainCatcher news, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that it is expected to launch Sonic Gateway in the coming days, supporting the bridging of USDC, EURC, and WETH from Ethereum to Sonic.

ChainCatcher news, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its Sonic mainnet is officially live.

ChainCatcher news, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet will go live next week.Previous news, on December 3rd, Sonic Labs (formerly Fantom) announced that its mainnet has generated the first block, marking the completion of the "Genesis" phase. Sonic Labs has completed the snapshot for the S token airdrop distribution, supporting a 1:1 exchange with Fantom's FTM token, and introduced Sonic Gateway to enable cross-chain bridging functionality.

ChainCatcher news, Sonic Labs (formerly Fantom) stated on social media that the deployment of the Sonic mainnet application has begun and will soon be open for public access.

ChainCatcher news, according to The Block, the Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has generated its first block, marking the completion of the "Genesis" phase, and is expected to officially launch soon. A few days prior, the project also launched the upgraded testnet "Blaze."The team previously announced that they expect to launch the mainnet by the end of November or early December. Sonic Labs has completed the snapshot for the S token airdrop distribution, supporting a 1:1 exchange with Fantom's FTM token, and introduced Sonic Gateway to enable cross-chain bridging functionality.

ChainCatcher news, Sonic Labs posted on X that the snapshot has been completed. Wallets holding all six Shards as of December 1st have now been whitelisted for NFT minting on the Sonic mainnet. SELLEK and Froyd ART will collaborate to design exclusive NFTs.

ChainCatcher news, Sonic Labs (formerly Fantom) announced the launch of the upgraded testnet 2.0 "Blaze" in preparation for the mainnet launch. The official statement claims that this is a brand new Sonic testnet with highly enhanced performance features.

ChainCatcher news, Sonic Labs (formerly Fantom) has announced a strategic partnership with the cross-chain interoperability protocol Owlto Finance for its newly launched layer network Sonic. Owlto Finance will provide stablecoin liquidity support for Sonic, allowing users to access cross-chain assets through Owlto.Owlto Finance is an intent-driven full-chain liquidity protocol, with over 2 million users from more than 200 countries and regions, and has now integrated over 60 chains within the BTC, ETH, SOL, AVAX, and TON ecosystems.

ChainCatcher news, Sonic Labs (formerly Fantom) officially announced the launch of the Sonic mainnet in December 2024. CEO Michael Kong responded on social media that the launch date will not be December 27 or 31, suggesting it will go live earlier in the month.

ChainCatcher news, Sonic Labs co-founder Andre Cronje expressed his views on the recent controversy regarding "listing fees" from exchanges. He stated, "Binance did not charge us a listing fee, but Coinbase has repeatedly requested fees, quoting $300 million, $50 million, $30 million, and the most recent quote was $60 million."Some supporters of Coinbase responded by claiming that Andre may have contacted fake Coinbase listing workers and questioned Sonic Labs' background checks.Andre responded again, saying, "I did not sign a confidentiality agreement, so I am more than happy to provide relevant evidence (the quotes came from multiple employees/departments at Coinbase, raised over the years via email, Telegram, and Slack). What is certain now is that Coinbase can argue this is not a listing fee, but other fees, yet it still translates into the listing costs for the project. I know Coinbase may legally make some distinctions, but I am happy to disclose all evidence and let the public assess."

ChainCatcher message, Sonic Labs (formerly Fantom) co-founder Andre Cronje stated: "The real cost of running a blockchain (even a semi-successful one) for all L2s or application chains is as follows: the upfront cost for oracles and stablecoins is $7.5 million, with an annual cost of $3.5 million; the upfront cost for RPC, indexing, and dashboards is $200,000, with an annual cost of $700,000; VRF, Keepers, wallet support, and governance cost $500,000 annually; explorers, custody, and risk management cost $800,000 annually, totaling $13.2 million. The above applies only to Sonic.Here is our cost situation from last year: R&D $10.9 million; ecosystem $10.7 million; legal $410,000; compliance $3.8 million; infrastructure $2.4 million; marketing $1.4 million; bounties $1.2 million; sponsorship $400,000; media $350,000; regulation $200,000; events $100,000; total cost $35.6 million. (The above does not include exchange listings, fortunately, we do not need to do this this year.)"

ChainCatcher news, Sonic Labs (formerly Fantom) announced on the X platform that .sonic domain registration is now open, with UnstoppableWeb as the exclusive on-chain provider for .sonic domains, supporting users' digital identities.

ChainCatcher news, Sonic Labs Chief Technology Officer Andre Cronje stated: "L2 as an application chain does not make sense for developers:Almost no infrastructure support at deployment (such as stablecoins, oracle, and institutional custody);No foundation or lab to provide assistance;Centralized architecture is vulnerable;Fragmented liquidity and forced through cross-chain bridges;Lack of user and developer community;Spending time dealing with the above issues instead of applications and users;Eliminating network effects;Still requires long transaction confirmation times (some providers are unwilling to cooperate);Developed in isolation (without collaborative teams).Application chains also severely underestimate the costs of infrastructure and compliance (browsers, hosting, trading platforms, oracles, bridging, toolkits, IDEs, on/off ramps, native issuance and integration, regulation, compliance). In 2024 alone, $14 million has already been spent, a significant portion of which is recurring costs."

ChainCatcher news, Sonic Labs (formerly Fantom) co-founder Andre Cronje tweeted: "Investors and businesses want to achieve centralization. Decentralized profitability is difficult and challenging. In the future, we will see many DApps become L2, and eventually (when they get tired of managing) decentralize and become L1. Just as many L1s will become L2 until they need to decentralize and become L1 again. Let the fragmentation continue. Compared to all the technical concepts I've learned, I believe monolithic technology is the winner."