The Sonic project, comprised of Sonic Labs and Sonic Foundation, is a cryptocurrency network originally known as the Fantom Foundation.
Fantom Foundation, a Level 1 smart-contracting platform developed by Michael Kong and Dr. Ahn Byung Ik, was launched in 2018 and rebranded as Sonic Labs on 1 August 2024.
This decision to rebrand was driven by Fantom Foundation’s drawbacks, which prevented new rules introduced into the platform from fully integrating into Opera with a soft-fork upgrade.
While Sonic Foundation handles the treasury functions and governance, Sonic Labs deals with everything mainstream: operation and innovation. Sonic Labs is designed to provide clarity and visibility alike to all kinds of users, as it promotes growth among decentralized applications.
This new Layer 1 blockchain intends to use a Layer 2 bridge called Sonic Gateway to connect to the Ethereum network. This allows the chain to use the latter’s user base and liquidity while maintaining low transactional fees while is expected to set up a new record by processing a total of 10,000 transactions per second with one-second confirmation times.
$S, the new native token of Sonic Labs is the one developed to replace Fantom (FTM), the former native token of the platform when it used to be Fantom Foundation. The new token can be used to pay transaction fees, stake, participate in governance, and run a validator.
Individuals holding FTM can exchange those with S at a 1:1 ratio as the initial supply of these tokens amounts to 3,175,000,000, the same as the current supply of FTM.
How does Sonic Arcade work?
Sonic Arcade is a digital playground on the testnet launched by the company to enable sovereign game economies designed to roll up and settle on the Solana network.
The platform has been attracting big investors like Galaxy Interactive and Big Brain Holdings who contributed to raising a $12 million capital to run the platform.
Sonic Arcade features three play-to-earn games. Interested users can play these games to earn points needed to participate in airdrops where S coins will be distributed among the public for free, but under certain conditions.
Steps to Participate in Sonic Airdrop
Sonic Labs has been taking measures to encourage growth and creativity with the introduction of the new token where the platform features an Innovator Fund committing up to a whopping 200 million S tokens for projects and developers transitioning to and supporting the new chain.
As part of promoting this network, the Sonic platform has been planning an airdrop of S tokens which also encourages the recipients to hold on to the tokens for longer.
Follow the below instructions and complete the instructed tasks to be eligible to participate in the Sonic airdrop and earn rewards.
- To begin with, the user needs to have a Backpack wallet. Go to the Sonic testnet Odyssey page and connect this wallet, which will give you access to your referral code and points dashboard.
- Next, go to Sonic Arcade on the left panel and connect the wallet again and now, you can play games in the arcade and earn points.
- Add the Solana Devent network, and proceed to request SOL tokens.
- Go to Task Center and complete tasks including connecting your X profile and daily check-ins to earn free $TOKEN. ($TOKEN, which has no monetary value, is required to play games in the arcade, where each of them costs 1 $TOKEN)
- Next, you can play the three games, Plinko, Mines, and Wheel on Sonic Arcade to collect points.
- You can also earn points by sharing your code and referring others where you will get 10% of the points they earn, for each referral.
Also, Read: RollBlock ($RBLK) Presale: A Complete Guide
Conclusion
This S airdrop running by the Sonic network is a strategy to invite more users to the platform by regarding and incentivizing those who interact with the Sonic testnet system.
The program involves an innovative burn factor where 75% of the receipts will be vested as NFT positions over 270 days while the rest 25% will be available as liquid coins. This is meant to encourage the users to hold their airdrops receipts rather than trading them right away.
After 270 days, the entirety of a user’s allocation will be unlocked and can be used to trade, stake, participate in governance, or pay the transaction fee.
As the network is trying to move further with advanced technologies and innovative vision, this could be an important step in deciding the future of Sonic Labs as a reliant and reputed platform in the crypto world.
