Highlights
- Sonic Chain has crossed the 1 million block milestone, days after launch
- The protocol is exploring liquidity boost with Uniswap DAO
- Sonic Chain looks to compete with top protocols like Base and Solana for market share
The Sonic Chain, a product from the Fantom team has inked a major milestone, just about four days after it went live on the mainnet. As announced by the protocol on its official X account, the chain has produced 1,000,000 blocks. With this impressive milestone, the community demands have increased with calls for a bridge to connect with other networks.
Sonic Chain by The Numbers
In an earlier update, the protocol shared the Transaction Per Second (TPS) recorded by early users thus far. Notably, core developer Andre Cronje spotlighted an 850 TPS despite the network not operating at full speed yet. However, sealaunch onchain explorers noted that the Sonic Chain scored a 1,620 TPS on December 18.
As Andre Cronje revealed, the “safety mode” is currently active for the new layer-1 scaling solution. This mode was introduced to let enough validators get onboarded to the network. In all, most of the figures are independently recorded and might change as the Sonic Chain matures.
The Sonic mainnet went live on December 18 after months of active development. This protocol is Fantom’s evolutionary response marked by the transition to Sonic Labs earlier in September.
With the official launch, the broader industry has kept a keen eye on what the protocol may have to offer. Top industry personalities including Ran Neuner have endorsed the chain as one of the fastest in the ecosystem.
To further turbocharge its growth, Sonic Labs has proposed that the Uniswap DAO allocate 250,000 UNI as liquidity mining rewards for its validators. As part of the proposal, this 250,000 UNI will complete its 500,000 S allocation for the same purpose.
We’re proposing that @Uniswap DAO allocate 250k of UNI as liquidity mining rewards in addition to our 500k in S.
The era of DeFi on Sonic is nearing.
🔗 https://t.co/T8QUjYc8d5 pic.twitter.com/0v3dw2CEj3
— Sonic Labs (@SonicLabs) December 20, 2024
Triggering Layer 1 and 2 Networks
The broader digital currency ecosystem is preparing for a new era in the crypto world that would be marked by more proactive policies. As such, every protocol hopes to capture as much of the market share as possible amid a pro-crypto led administration Donald Trump is courting.
Sonic Chain will look to compete with top rivals including Ethereum, Solana, XRP Ledger and Layer-2 gamechangers like Base Network. While it has received a good start, it remains uncertain how well it can catch up with protocol like Base that currently dominates the Ethereum TVL scene.
Prior to its launch, Andre Cronje has detailed plans to launch series of DApps to turbocharge the protocol.
CoinGape