Sonic Labs, formerly Fantom, launched a bounty program to encourage developer participation before the Sonic network launch.
According to a press release, the goal of the Sonic Boom and Sonic Gems bounty program is to assist the initial wave of applications on the Sonic platform.
The project targets important blockchain sectors, such as lending, gaming, stablecoins, tooling, payments, and exchanges. Later this year, Sonic (S) will replace Fantom.
Boosted Rewards for Users
Sonic Gems are points that can be redeemed for a portion of the upcoming Sonic token. Gems will be sent to developers and after that dispersed to users.
The bounty program will end on November 4 after over 13 weeks of operation. Up to 30 projects, or 37.5% of the total, will receive Gems during this time as part of a 190.5 million S airdrop.
Customers can take advantage of increased incentives and a range of applications. According to a Sonic Labs post on X, the entire incentive is almost $28 million. Michael Kong, chief executive officer of Sonic Labs stated:Â
We’re adamant about providing our ecosystem of developers with the rewards they deserve, both in the short and long term, and we’re thrilled to roll out Sonic Boom to accomplish just that. I can’t wait to see our builder’s creative solutions as we prepare for Sonic’s mainnet launch later this year.”
The Fantom Foundation has launched the Sonic upgrade, which intends to provide a layer-1 network with great speed. Sonic’s next mainnet will come after that.
Compared to the 2000 TPS achievable with the Fantom Opera network, Sonic can process over 10,000 transactions per second.
