It's been a long, long time since we've had a month this wild in the Fantom world (or should we say #Sonic? π)
πΈ 10,000,000 $sFTMx #MemeSeason
π Sonic chain and $S token reveal
π Opera chain upgrade
π€ Google Cloud partnership
Check out the latest #Fantom Insights newsletter:
https://blog.fantom.foundation/june-24-newsletter/
π₯³ With nearly 80% of staked FTM on Sonic nodes, Opera is officially considered UPGRADED!
Our new, innovative technology enables the chain to achieve:
β‘οΈ 2,000 TPS β realistic traffic
π 4,000 TPS β token swaps
πΈ 10,000 TPS β token transfers
β± 1-second finality
With this upgrade, Opera can process over 180 million daily transactions with sub-second confirmation times.
Additionally, we've decreased storage requirements for validator nodes by 66% and reduced operational costs for archive nodes by 95%!
β The upgraded Opera chain represents a new era of blockchain innovation, and we're committed to ensuring our users and partners benefit from our cutting-edge technology.
Learn more π
https://blog.fantom.foundation/opera-upgraded-2-000-tps-at-sub-second-finality/
π’ We're teaming up with Google Cloud!
Our partnership will launch a series of initiatives incentivizing and empowering developers to build the next generation of dApps on our network π
Fantom will use Google Cloudβs secure, scalable, and resilient infrastructure as well as its AI capabilities to help developers on our network build smarter, safer products that engage users in more meaningful ways.
π Plus, Google Cloud will run a validator on our Opera chain and intends to migrate this validator to the new Sonic chain!
Learn more π
https://blog.fantom.foundation/fantom-foundation-forges-strategic-partnership-with-google-cloud/
π We're excited to provide more details about our upcoming #Sonic chain, S token, and launch of a new strategic funding round.
Michael Kong's latest post sheds more light on the new Sonic organization, slate of innovative new partners, and building of a bold, community-centric brand:
β Sonic
New layer-1 chain with a native layer-2 bridge connected to Ethereum.
π Sonic Foundation
New business entity responsible for our networksβ governance and treasury management functions.
π± Sonic Labs
New business entity responsible for driving growth among #dApps, partnerships, and users.
While our Opera chain is being upgraded with βSonic techβ, we'll no longer use the name βSonicβ to refer to our tech stack, which will now exclusively refer to our new chain.
Stay tuned for updates on audience engagement programs, new partnerships, and details on our technology, tokenomics, brand, and strategy!
Read full article π
https://blog.fantom.foundation/sonic-and-beyond-a-new-era-of-blockchain-innovation/
π Introducing Meme Season, with up to 10 million FTM up for grabs!
Meme Season is a dynamic and engaging competition designed to cast a spotlight on the top memecoins in the Fantom ecosystem.
We're inviting memecoins and their holders to come together as a community to compete for the top spots.
π
Round 1: June 1β30
π° Prize: Up to 1 million sFTMx
Learn more π
https://blog.fantom.foundation/introducing-meme-season-competition-up-to-10-million-sftmx-in-prizes/
The New Frontier: Building the Sonic Boom
Our new forum post focuses on the future of #Fantom and initiates a series of governance votes regarding our new network, Sonic ($S).
We're asking for the community's feedback on proposed changes, programs, and initiatives.π
https://forum.fantom.network/t/the-new-frontier-building-the-sonic-boom/875
Fantom will be at Consensus 2024 in Austin, Texas!
π€ Catch our CEO Michael Kong on May 31 at 1:00 PM on the Spotlight Stage for a keynote about the future of Fantom and beyond.
π» To kick off the excitement, we're hosting a Fantom Vibe event two days prior with local beers and stunning BBQ, on May 29, 6β10 PM! It's the perfect chance to meet and mingle with the Fantom team before our keynote.
Click here for tickets:
https://lu.ma/7ce6ivl5
π₯ Introducing: Opera Upgrade Dashboard!
Starting today, validators on Opera are upgrading their nodes to be powered by our innovative Sonic tech.
Follow the real-time progress of the upgrade using our new dashboard π
https://fantom.foundation/sonicStatus
(P.S. Weβre keeping the name Opera to refer to this chain. Once the network upgrades, it'll be powered by the new Sonic tech we've showcased for the past six months.)
From vision to reality, the new Opera is almost here as validators begin upgrading this week.
π₯ Watch our highlight reel below, showcasing our journey to this new era of blockchain innovation.
Opera powered by Sonic tech is coming, and it's undeniably fast β‘οΈ
PS: Weβre keeping the name Opera to refer to this chain. Once the network upgrades, it'll be powered by the new Sonic technology we've showcased for the past six months.
What comes after Opera?
Something much bigger π
The top gas-producing dApps on #Fantom earned over 85k FTM as part of our latest Gas Monetization quarterly bonus.
π Last week, we featured the first 6 innovative dApps driving the most user engagement, and now we're excited to share the final projects.
Check them out π
https://x.com/FantomFDN/status/1784966482742608289
Last week, the top 12 gas-producing dApps on #Fantom earned over 85k FTM as part of our Gas Monetization quarterly bonus.
π We're excited to feature these innovative dApps for driving the most user engagement.
Discover the first 6, and we'll reveal the final 6 on Monday π
https://x.com/FantomFDN/status/1783893123325931993
With our first Opera validator using Sonic tech already launched, we thought itβd be helpful to share some info about:
π Node transition
β
Consensus majority
πͺ Staking power
Explore these topics now as more Opera validators upgrade to Sonic tech in the coming weeks π
https://x.com/FantomFDN/status/1783580589289009329
Announcing the latest #Fantom Gas Monetization quarterly bonus πΈ
π We're distributing 85,000+ $FTM to the top 12 dApps on Fantom that have generated the most gas.
Congratulations to these innovative dApps for driving the most user engagement!
https://earngas.fantom.network/
Innovating on Fantom earns you 15% of your dAppβs gas fees, plus a potential quarterly bonus!
βοΈ Apply for Gas Monetization, open to all builders: https://forms.gle/GDcVuJStZu6BQ6YSA
β Questions Message our BD Lead Sam on Telegram (@samharc).
Let's build Web3's future together.
With nearly $3 million bridged, our canonical stablecoin $USDC.e is running smoothly π΅
Our complete guide will help you maximize its benefits:
π Bridge to USDC.e on #Fantom
π Provide liquidity on top DEXs
https://blog.fantom.foundation/the-complete-guide-to-usdc-e-on-fantom/
The first #Fantom validator using Sonic tech is live β
Marking a major milestone, this deployment paves the way for unleashing Sonic's impressive speeds on the Opera mainnet, achieving ~2,000 TPS at sub-second finality.
Check out the validator page here: https://fantom.foundation/validatorStats?address=0x5486e6671e36664006627100a0eef64537159bcd
We are thrilled to introduce another angel investor joining our round! π€
Stani Kulechov is the founder of Aave and Avara.
Aave is an open source and non-custodial protocol that allows users to earn interest on deposits and borrow assets. The platform boasts over $11B in TVL π₯
$USDC.e is live on #Fantom π
Bridge your tokens: Use the @Wormhole Portal Bridge below and select Ethereum/USDC and Fantom/USDC.e in the two boxes.
β
Quick checklist:
Verify all the details thoroughly in your wallet before confirming.
It's only possible to bridge USDC from Ethereum to get USDC.e on Fantom!
π USDC.e contract address:
0x2F733095B80A04b38b0D10cC884524a3d09b836a
Plus, look out for our upcoming guide on making the most of USDC.e π
https://portalbridge.com/
Say hello to $USDC.e, our canonical stablecoin (stay tuned for bridging instructions) π
USDC.e is a bridged stablecoin on Wormhole and can be upgraded to native $USDC by Circle.
Learn what's required for this upgrade to happen on #Fantom π
https://blog.fantom.foundation/usdc-e-on-fantom-the-pathway-from-bridged-to-native-stablecoin/
We are thrilled to introduce another angel investor joining our round! π€
Michael Egorov is the founder of Curve.
Curve Finance is a decentralized exchange and automated market maker designed for the efficient trading of stablecoins and other assets.
Curve has committed to launch on Sonic π
We are excited to announce that Fantom's canonical stablecoin, $USDC.e, will launch tomorrow (April 5), supported by Circle and Wormhole π
USDC.e on Wormhole is bridged from native $USDC, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future. It will be the official, endorsed stablecoin of the #Fantom ecosystem (and all future network upgrades).
This initiative reduces liquidity fragmentation, introduces stability, and provides additional on-ramps onto the ecosystem. By leveraging the Wormhole Native Token Transfers (NTT) standard, USDC.e will be available to all users and developers on Fantom:
π» Developers: Build on bridged USDC with a contract address that will persist even if there is an upgrade to native USDC. No code change needed to support the new asset. Find the tools here: https://www.npmjs.com/package/@wormhole-foundation/wormhole-connect.
π₯ Users: Store, pay, trade, borrow, and lend with bridged USDC that would automatically become native USDC should there be an upgrade. No need to swap to the new asset.
π Ecosystem: Avoid the time-consuming liquidity migration process of educating and incentivizing users to move from bridged USDC to native USDC should there be an upgrade.
We'll be providing liquidity for the canonical stablecoin on Wormhole, making it easy and accessible for users to bridge assets to Fantom and unifying on-chain liquidity.
Should a mutual decision be made between Circle and Fantom to upgrade to native USDC, all USDC.e tokens seamlessly transition to native USDC without the need for developers to update any contract addresses or swap to the new asset.
π RT + share: https://x.com/FantomFDN/status/1775887091995447700
We are excited to introduce another angel investor joining our round! π€
Fernando Martinelli is the CEO of Balancer Labs βοΈ
Balancer is a yield-hub for DeFi liquidity with $1.25b in assets. As a decentralized AMM protocol, Balancer represents a flexible building block for programmable liquidity.
Stay tuned for more π
We are excited to introduce another angel investor joining our round! π€
Tarun Chitra is the founder of Gauntlet
Gauntlet is a financial modeling platform for blockchain and DeFi protocols, aimed at helping these projects optimize their systems plus manage risk through economic simulations.
Stay tuned for more π
A big welcome to the second angel investor joining our round! π€
Robert Leshner is the founder of Superstate and Compound π
Compound currently boasts $2.8b in assets. This sophisticated protocol establishes money markets where pools of assets contain algorithmically derived interest rates based on supply & demand.
Stay tuned for more π
From concept to VC-ready, Sonic Labs is more than an incubator π‘
It's our launchpad for the next generation of innovative, game-changing protocols.
Hear Sam Harcourt explore the core principles behind Sonic Labs π π
https://x.com/FantomFDN/status/1773729016442175983?s=20
We are thrilled to announce the first of many angel investors that have joined our round!
Sam Kazemian is the founder of Frax Finance β¦, one of the largest DeFi protocols with over $1.6bn in assets such as sfrxETH and the FRAX stablecoin.
π Frax is committed to deploying with natively issued assets on the Sonic tech stack Day 1 of launch!
Stay tuned for more π
Discover Thunder Dome, one of our innovative Sonic Labs winners!
Thunder Dome is an all-encompassing SocialFi platform that allows users to engage with communities through tickets, which are social tokens that can be traded π«
See more in the product tour π
Michael Kong Unveils Sonicβs Launch and Beyond
TL;DR π
Sonic will be used to create a new best-in-class decentralized sequencer for L1 and L2 chains, capable 180M daily transactions at sub-second finality, and serve as the foundation to relaunch Fantom as an entirely new community-centric brand.
π Read Michael's full letter: https://blog.fantom.foundation/michael-kong-unveils-sonics-launch-and-beyond/
π RT + share: https://x.com/FantomFDN/status/1772275308105769312
Discover Froqorion, one of our innovative Sonic Labs winners!
Froqorion's Quest is a party-based RPG set in the ancient frog civilization of Froqorion. Gather the four elemental powers to become the avatar and conquer lurking evil πΈ
"Exemplary 99.9% uptime. Fantom's novel solutions position it as a frontrunner in the development of decentralized networks."
Reflexivity Research's Q1 '24 report on #Fantom covered:
π Blockchain consensus
π» Fantom technology
β
Fantom uptime
Let's explore the report π
https://twitter.com/FantomFDN/status/1770851499314188683
Discover Lynx Protocol, one of our innovative Sonic Labs winners!
Lynx is a perpetuals DEX offering high-leverage trading using any token as collateral. Plus, offering single-asset deposits and reduced exposure to trader PnL πΈ
Learn more in this product tour π
https://x.com/FantomFDN/status/1770168458585522238?s=20