Sonic Labs, the entity formerly recognized as Fantom, has introduced an ambitious bounty initiative designed to stimulate developer engagement in anticipation of the Sonic network’s launch. This new program, known as Sonic Boom and Sonic Gems, aims to catalyze the creation of pioneering applications across various blockchain domains.

Incentivizing Innovation

The Sonic Gems bounty initiative is strategically targeted at pivotal blockchain sectors, including exchanges, payment solutions, tooling, stablecoins, gaming, and lending, among others. By leveraging Sonic Gems, developers will be able to accumulate points that translate into stakes in the forthcoming Sonic token. These Gems will be allocated to developers and subsequently distributed to users, thereby fostering a broad and active engagement with the platform.

Enhanced Rewards for Participation

The bounty program is scheduled to run for approximately 13 weeks, concluding on November 4. During this period, up to 30 projects are set to receive Gems as part of a substantial airdrop totaling 190.5 million S tokens, representing 37.5% of the total allocation. Participants will have access to a diverse range of applications and can capitalize on enhanced rewards.

With a total reward pool approximating $28 million, Sonic Labs emphasizes its commitment to recognizing and compensating its developer community both immediately and in the long run. Michael Kong, CEO of Sonic Labs, expressed his enthusiasm for the initiative, stating, “We are resolute in our mission to reward our ecosystem of developers, and we are excited to launch Sonic Boom to achieve this. I eagerly anticipate the innovative solutions our builders will present as we approach Sonic’s mainnet launch later this year.”

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The Path Forward

The impending launch of Sonic’s mainnet builds upon the recent Sonic upgrade by the Fantom Foundation. This upgrade promises a high-throughput layer-1 network capable of processing over 10,000 transactions per second, a dramatic improvement from the 2,000 TPS supported by the previous Fantom Opera network.