Fantom

The Fantom Foundation wishes everyone a Happy New Year and announces preparations to launch the FantomSonic upgrade in 2024, aiming to take blockchain technology to the next level.

Eli, from the Fantom Foundation, has joined Sonic Labs as a mentor. He has a background in fintech and crypto law, and will focus on risk, governance, and regulation. He values early-stage teams with dreamers, builders, and doers. Apply to participate in the incubator now.

Fantom is set to distribute over 300k $FTM to the top 12 projects on Fantom with the highest gas usage. Gas Monetization offers 15% of dApp's gas fees and a potential quarterly bonus. Builders can apply by messaging BD Lead Sam on Telegram (samharc). Let's build the future of Web3 together.

Fantom has launched the Sonic builders testnet, offering developers the opportunity to test their innovative ideas and build dApps on Sonic technology. The testnet is 100% EVM and Opera compatible, supports TX and debug tracing, and offers hosted graph nodes, the multisig Sonic Safe service, and Lore's new explorer. Developers can also apply to the Sonic Labs incubator program to receive funding, mentorship from Andre Cronje, and private capital opportunities.

The ledger connect-kit package has been compromised, posing a risk to funds. Dependent connect-kit features have been removed from Fantom wallets as a precautionary measure. Users are advised not to connect to any Fantom wallets using ledger.

The recent Sonic closed testnet run by Fantom achieved impressive results with approximately 4,000 transactions per second (TPS) and a finality of 1.3 seconds. The testnet will now be temporarily unavailable for the next 24 hours to process transactions resembling real traffic.

Fantom is launching a fresh new blog to showcase the changes and innovation happening within the platform. Along with the blog, Fantom is also introducing a monthly newsletter, delivered by their exceptional marketing team.

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.

The Gas Monetization leaderboard is becoming more competitive with dApps earning a continuous income from gas fees. Top apps receive surplus FTM tokens as a bonus. So far, 248k bonus FTM has been accumulated. The next bonus snapshot will be taken on December 31st. Interested apps can apply to start earning 15% of gas fees and climb the leaderboard. Last quarter, over 500,000 FTM tokens were distributed to winners.

Yesterday, the Fantom network successfully processed over 4.7 million transactions. Despite higher gas prices, the network remains stable thanks to the implementation of Sonic.