Fantom's Sonic testnet showcases high transaction processing capability
Fantom's Sonic testnet showcases high transaction processing capability
The recently reopened Fantom Sonic closed testnet has demonstrated a transaction processing capacity of 4,000 transactions per second, with 343 million transactions per day. This showcases the power and potential of Sonic, which is expected to redefine the blockchain landscape in the coming year. The testnet is currently focused on handling swap transactions to further improve its performance standards.
You've heard from us how #FantomSonic redefines the blockchain landscape. Now hear from a dApp founder: "We're seeing exactly how fast it [Sonic] can process - to finality - 4,000 transactions in a second. But then let's take a look at the transactions per day... 343 MILLION
#FantomSonic Testnet is now completing 4000 tx's in 1.38s to finality. For a quick comparison it's completing more than half the average daily flow of Visa's transactions. Join us for a quick run through on what is powering this next generation #blockchain from @FantomFDN
- Yesterday Fantom processed >4.7M txns. - Network stable. - Gas prices higher, but Sonic fixes this.
fantom just did 3M txns in a day without a hiccup and we have a literal 100x throughput upgrade coming in a few months what are we doing how is it this easy
At the moment, the Sonic closed testnet is handling around 2,000 transactions per second at one-second finality. To get these numbers, we feed synthetic transactions to the testnet that closely resemble realistic traffic, composed of the following: • ~10% $FTM transfers •
The Sonic closed testnet is under construction as we reshift its focus to handle only swap transactions, allowing us to exceed 2,000 TPS ⚙️ Join us Nov 27 at 13:00 UTC when the testnet reopens and observe Sonic's full potential in handling ERC-20 swaps. sonic.fantom.network
The #FantomSonic closed testnet is back with ~4,000 TPS at ~1.3 second finality ✅ So far, the testnet has processed transactions resembling realistic traffic (token transfers, mints, & swaps) which has allowed us to showcase the performance of Sonic in conditions that represent
Sonic Labs Innovator Fund Announces New Grant Recipients
The Sonic Labs Innovator Fund has unveiled its latest grant recipients, offering up to 200M $S for new ventures and dApps migrating to Sonic. The new partners include: - PaintSwap: Building a marketplace for trading Sonic airdrops, featuring ERC-1155 fNFT and an advanced order book. - Equalizer Exchange: A DEX with a vote escrowed model to drive liquidity to high-volume token pairs. - SilverSwap: A DeFi hub supporting dynamic fees, concentrated liquidity, rebase tokens, and plugins. These dApps will be available on Sonic at launch. The fund aims to accelerate innovation and ensure top dApps migrate to the new Sonic chain.
OpenBlock Labs Partners with Sonic for Airdrop
OpenBlock Labs, crypto's incentive operating system, partners with Sonic for a 190,500,000 $S airdrop across multiple phases. OpenBlock specializes in creating and deploying incentive campaigns for various protocols. They manage over $2 billion in annual incentive spend and have a team of 45 engineers and researchers. The partnership aims to optimize incentive models and identify genuine users for long-term contributions to the Sonic network. OpenBlock will provide anti-Sybil protection, including exploitative behavior detection, wash trading detection, and volume profiling. This collaboration ensures fair rewards distribution for users, developers, and validators on Opera and Sonic.
Rabby Wallet Tutorial and Gas-Free Trading Program
Opera has released a step-by-step video tutorial for setting up a Rabby Wallet. As part of their Gas-Free Trading Program in partnership with Rabby, they're sponsoring up to 10 DEX transactions per user. This offer is available for new wallets or those inactive for 90 days at the program's launch. Key points: - Video tutorial available for Rabby Wallet setup - Up to 10 free DEX transactions per user - Eligible: New wallets or 90-day inactive ones This initiative aims to encourage user engagement and reduce transaction costs on the Opera platform.
Fantom's Sonic Labs to Bolster Ecosystem with Five New Projects
Fantom's Sonic Labs program has selected five new projects to receive funding and support. The projects are Lynx Protocol (perpetuals DEX), Thunder Dome (SocialFi platform), Debita Finance (P2P lending), Kiri Coin (green-tech startup), and Froqorion (party-based RPG). Each project will receive 200,000 FTM tokens, mentorship from Andre Cronje, guidance from Pyth Network's Kemar Titi, and compliance, payroll, and legal support. These projects are expected to further diversify and strengthen Fantom's ecosystem.
Fantom Newsletter Breakdown and Subscription Promotion
Fantom has released a breakdown of their most recent newsletter, providing insights and updates on the project. They are encouraging users to subscribe to receive the latest Fantom news directly to their inboxes.