Sonic (prev. Fantom) is a high-performance, EVM-compatible Layer-1 blockchain designed to support decentralized applications (dApps) and decentralized finance (DeFi) platforms. It offers rapid transaction speeds, processing up to 10,000 transactions per second (TPS) with sub-second finality, making it suitable for developers and users seeking efficient blockchain solutions.

Fantom announced its upgrade to Sonic in early 2024, introducing faster transactions, improved scalability, and better incentives for developers. FTM holders can upgrade to S at a 1:1 ratio. Sonic retains full EVM compatibility, making migration seamless for existing projects.

Sonic (S) is used for transaction fees, staking, and governance on the Sonic blockchain. Developers earn up to 90% of transaction fees through the Fee Monetization (FeeM) program. S also powers dApps and DeFi platforms within the ecosystem, enhancing utility for both users and developers.

Sonic's Fee Monetization (FeeM) program allows developers to earn up to 90% of the transaction fees generated by their applications. This model provides a sustainable revenue stream, enabling developers to focus on scaling their apps and growing their user base without the constant pressure of fundraising.

FTM holders can upgrade their tokens to S on a 1:1 basis using the upgrade portal on MySonic. For the first 90 days after Sonic's mainnet launch, users can freely swap between FTM and S through this portal. After that period, upgrades will be from FTM to S only.

Yes, Sonic is fully EVM-compatible, allowing developers to deploy their existing Ethereum-based applications on the Sonic network without significant code modifications. This compatibility ensures a seamless transition for developers looking to leverage Sonic's high performance and scalability.

The Sonic Gateway is a secure bridge that facilitates token transfers between Ethereum and Sonic. It offers seamless access to vast liquidity and employs a unique fail-safe mechanism to ensure asset protection during cross-chain transactions.

Sonic employs a staking mechanism where validators secure the network by running validator nodes and staking a certain amount of S tokens. Validators earn block rewards and a percentage of transaction fees paid by users on the network. The target reward rate is 3.5% annually when 50% of the network's tokens are staked, with adjustments based on the total staked amount.

The Innovator Fund is an initiative by Sonic to support developers and projects building on its platform. It provides funding and resources to foster innovation and growth within the Sonic ecosystem, encouraging the development of diverse and impactful decentralized applications.

Users can participate in Sonic's governance by holding and staking S tokens. This involvement allows them to vote on proposals that influence the network's development and operational decisions, ensuring a decentralized and community-driven approach to governance.

Sonic Labs offers a high-performance EVM Layer 1 solution with features like lightning-fast transaction speeds, sub-second confirmation times, and Fee Monetization for developers. It allows seamless bridging from any network and provides a user-friendly experience, making it a top choice for DeFi enthusiasts.

Developers can benefit from Sonic by earning 90% of their app's fees through Fee Monetization, enjoying low latency and low storage requirements, and leveraging the platform's high scalability and security features to build efficient blockchain applications.

Sonic is the fastest settlement layer for digital assets due to its ability to process over 10,000 transactions per second with confirmation times around 1 second, making it an ideal choice for high-speed financial transactions.