- Fantom proposes to simplify staking with a fixed 14-day decoupling period to boost DeFi activity.
- The new Sonic technology aims to re-launch Fantom with a capacity for more than 180 million transactions per day, improving accessibility and security.
The Fantom team has developed Sonic, a new blockchain technology that promises to process up to 2,000 transactions per second with near-instant completion. This is a significant improvement over the previous capacity of Fantom’s Opera network, which handled 200 transactions per second.
The introduction of Sonic is part of an effort to overcome previously experienced network congestion challenges, which affected user experience during periods of high demand.
Since its launch in December 2019, Fantom’s Opera network has experienced significant growth, accumulating more than $10 billion in total value locked (TVL) by 2022. This growth reflects increasing adoption and interest in the platform.
In response to evolving industry and interoperability needs, Fantom plans to implement a secure bridge with native access to Ethereum, improving connectivity between different blockchains.
Related: Sonic upgrade stokes investor interest
To simplify the staking process, Fantom is proposing a structure that will not vary the annual percentage rate of return (APR) based on lock-up time, but will instead establish a fixed 14-day decoupling period. This measure seeks to boost activity in decentralized finance (DeFi) and increase the total value locked in the network.
In addition, Fantom has announced plans to accelerate application development by expanding its Sonic Labs grant program. This program aims to support projects in diverse areas such as gaming, social networking, streaming media and now distributed artificial intelligence.
A rewards campaign is also planned to incentivize both current Opera network users and future users of the new network.
You can also read: Fantom’s $1.77 Projection: Co-founder teases important milestones for the FTM Blockchain
The implementation of Sonic is envisioned as a key step toward Fantom’s relaunch as a community-centric brand, with the goal of processing more than 180 million transactions per day.
Some SONIC testnet highlights discussed by @MasonCorval and @DraculaPresley on the latest #GMSONIC. Breakneck speed and finality with institutional grade TPS. #Fantom @FantomFDN @theFantomgoat pic.twitter.com/HnFz4ZnNA0
— Fantom Talk (@FantomTalk) March 20, 2024
The Fantom team is finalizing details and logistics for the launch of the new chain, scheduled for late summer or early fall of this year. With these actions, Fantom seeks to consolidate its position in the market, offering a faster, safer and more accessible platform for users and developers.
