Sonic Labs, previously known as Fantom, has introduced a bounty program to stimulate developer activity in anticipation of the Sonic network launch.

Sonic Boom and Sonic Gems Bounty Program

The Sonic Boom and Sonic Gems bounty program aims to encourage the development of initial applications on the Sonic platform. This initiative focuses on essential blockchain sectors such as exchanges, payments, tooling, stablecoins, gaming, and lending.

Fantom will transition to Sonic (S) later this year.

Boosted Rewards for Users

Sonic Gems are points that allow holders to earn a share of the new Sonic token. Developers participating in the bounty program will receive Gems, which will later be distributed to users.

The bounty program will last for nearly 13 weeks, ending on Nov. 4. During this period, up to 30 projects will receive Gems as part of a 190.5 million S airdrop, representing 37.5% of the allocation. Users will have the chance to access various applications and enjoy boosted rewards.

The total reward is approximately $28 million, as noted by Sonic Labs.

We’re committed to providing our ecosystem of developers with the rewards they deserve, both in the short and long term, and we’re excited to roll out Sonic Boom to achieve just that. I look forward to seeing our builders’ creative solutions as we prepare for Sonic’s mainnet launch later this year.

— Michael Kong, Chief Executive Officer of Sonic Labs

Sonic’s Mainnet Launch

Sonic’s upcoming mainnet follows the Fantom Foundation’s launch of the Sonic upgrade, which aims to deliver a layer-1 network with high throughput. Sonic is designed to process over 10,000 transactions per second, a significant improvement from the 2000 TPS capacity of the Fantom Opera network.

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