At the same time, Fantom has launched Sonic, another Layer-1 network with the ambition to transform the DeFi market. Sonic claims a fundamental capacity of 10,000 transactions per second (TPS) and finalization times of under 2 seconds. This new network’s primary focus is to go beyond the constraints of current blockchain technology. These features result in the most complex yield farming strategies ever seen while driving network efficiency and rewarding developers.
Running Sonic is a state-of-the-art features, lead by the SonicVM, next-generation virtual machine. It features a native bridge with Ethereum, enabling effortless asset transfers between both blockchains. Sonic has a very innovative architecture built for performance and scalability first from the ground up. Its vision is to provide a world-leading platform for decentralized applications (dApps) and DeFi protocols. The network further implements a groundbreaking decentralized fee distribution mechanism that rewards developers while creating a thriving ecosystem within the network.
SonicVM: A Next-Generation Virtual Machine
At the heart of Sonic is the “SonicVM.” This next-generation Ethereum-compatible virtual machine is purpose-built to address the shortcomings of the Ethereum Virtual Machine (EVM). It’s meant to be a faster and more scalable environment for running smart contracts. By abstracting transaction processing and minimizing computational overhead, SonicVM facilitates faster finalization times and throughput.
SonicVM’s architecture is purpose-built just to handle complex DeFi operations. This functionality is essential for powering complex yield farming strategies and other esoteric financial instruments. SonicVM’s vastly superior performance development of 15 to 20 times faster! Beyond helping with transaction execution, it goes a long way toward creating a seamless user experience by enabling fast and dependable execution.
The move to SonicVM is probably the biggest release in blockchain tech. It holds the potential of powering truly novel experiences for decentralized applications and next-generation financial services. Its unique features promise to raise the bar for virtual machine performance across the blockchain industry.
Enhancing DeFi with Advanced Strategies
Sonic features real-time optimized yield farming strategies for maximizing users’ returns at any given moment. These strategies implement a loan program that has a 10x leverage. This opens up really cool possibilities for more profitability across the DeFi ecosystem. The network implements a unique deflationary mechanism by burning 50% of fees in certain conditions.
The other half of the collected fees are used to fund fuel incentives for the Sonic ecosystem, attracting users and developers to drive usage, participation and growth. As an example, Sonic provides a high yield opportunity of up to 90% APY through its new & unique “FlyingTulip DEX” process and Adaptive AMM (Automated Market Maker). This high-yield potential, paired with the network’s efficiency and scalability, makes Sonic a highly attractive platform to DeFi enthusiasts.
With data volume at an all-time high, Sonic’s architecture avoids data bloat and ensures continued network efficiency. This makes sure that as the network develops and as we have more users, more transactions — it’s still lightweight, it’s still very responsive, it’s very scalable.
Bridging to Ethereum and Incentivizing Developers
Sonic Gateway. This cutting-edge technology is facilitating the real-time, trusted exchange of value across both networks. This interoperability with Ethereum is very important for attracting users and developers – and eventually capital – from the Ethereum ecosystem. With Sonic Gateway, users can easily move their assets back and forth between Sonic and other networks. Start enjoying the benefits of both networks today!
Sonic recently introduced “Fee Monetization (FeeM). This unique feature allows developers to receive up to 90% of transaction fees generated by their dApps. The Sonic ecosystem This novel paradigm creates a positive feedback loop to motivate developers to create and launch high-quality applications on the Sonic network. By directly rewarding developers for their contributions, FeeM creates a more dynamic and competitive ecosystem.
Sonic is home of a stablecoin, sUSD, which has already surpassed $950 million in capitalization. This provides the basis for a stable and reliable medium of exchange to be used throughout the Sonic ecosystem. Most importantly, it helps maximize its appeal to both users and developers.
