{"id":4581,"date":"2024-08-14T20:30:20","date_gmt":"2024-08-14T20:30:20","guid":{"rendered":"https:\/\/cryptd.in\/ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details\/"},"modified":"2024-08-14T20:30:20","modified_gmt":"2024-08-14T20:30:20","slug":"ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sk\/ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details\/","title":{"rendered":"FTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch \u2013 Details"},"content":{"rendered":"

Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to CoinGecko<\/a>, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.\u00a0<\/p>\n

The new Sonic Labs is poised to continue Fantom\u2019s legacy as four core proposals are now underway for the eventual release of the Sonic mainnet. If passed, the proposals will provide users and developers with a smooth transition to the Sonic network once D-day arrives.\u00a0<\/p>\n

Core Proposals Promise Smooth Transition To Sonic<\/h2>\n

According to the Sonic Labs<\/a> X account, four proposals will affect the user experience during the switch to the Sonic network. The most notable<\/a> is the proposed one-to-one ratio between FTM and $S, the native token of the new network. The new token will act like the old FTM token, with 3,175,000,000 $S tokens on Genesis Day.\u00a0<\/p>\n

With @MessariCrypto<\/a>\u2018s Q2 2024 report, we looked back at the latest quarter in the world of #Sonic<\/a>, including 4 governance proposals:<\/p>\n

190.5M $S<\/a> Airdrop
\n $FTM<\/a> to $S<\/a> Compatibility
\n Ongoing Funding
\n Validators\/Builders<\/p>\n

Let\u2019s explore the report pic.twitter.com\/Sypi35TTF4<\/a><\/p>\n

\u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024<\/a><\/p>\n

As a general \u201cthank you\u201d gesture to Opera users, the platform will allocate over 190,500,000 $S tokens to airdrop. The airdrop also has safeguards to protect the market from a sudden influx $S tokens. It will have a burn mechanism that penalizes users who choose to claim their airdrop position on day 1, burning almost 100% to 88.9% of the tokens vested for the user.\u00a0<\/p>\n

This gives users time to contribute to the overall on-chain activity while providing a guaranteed long-term gain. The new users are also eligible to receive the airdrop once the network is released.\u00a0<\/p>\n

4\u20e3 Validators\/Builders<\/p>\n

This proposal approved:<\/p>\n

Validator rewards migrated from Opera to #Sonic<\/a><\/p>\n

Apps in GasM can earn up to 90% of gas with a new burn model<\/p>\n

Ecosystem Vault funds allocated to @SonicCouncil<\/a><\/p>\n

14-day staking lock-up period<\/p>\n

https:\/\/t.co\/KCAtB2rm7t<\/a><\/p>\n

\u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024<\/a><\/p>\n

Funding for the new network is also secured as they allocate 47,625,000 $S tokens for running Sonic Spark and Sonic University, providing developers the know-how to build on the platform. To ensure zero wastage of the funds, Sonic will burn the remaining funds if not used within a specified time frame. For example, if only half of the whopping 47,625,000 $S tokens were used, the other half would be burned to protect the integrity of the network while ensuring the funds are not wasted.\u00a0<\/p>\n

Validator rewards will also be migrated from Opera to Sonic to promote the use of the network while protecting $S from too much inflation in the first four years.\u00a0<\/p>\n

FTM Price To Stabilize On This Level Ahead Of Sonic Network Launch\u00a0<\/h2>\n

As of press time, the token is struggling to flip the $0.3689 ceiling to support which is crucial for the bulls in the long term.\u00a0<\/p>\n\n

Although the token is seemingly slowing down, the market\u2019s general positivity will pick up in the coming days, pushing bears off of the FTM market. This will open the opportunity to retake $0.3689 in the short term while providing the bears a solid support level to take $0.4855 in the long term.\u00a0<\/p>\n

Featured image from Zipmex, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to CoinGecko, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.\u00a0 The new Sonic Labs is poised to continue Fantom\u2019s legacy as […]<\/p>\n","protected":false},"author":0,"featured_media":4582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nFTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch \u2013 Details - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sk\/ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details\/\" \/>\n<meta property=\"og:locale\" content=\"sk_SK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch \u2013 Details - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. 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