fantom

Sonic Labs released the latest progress update, announcing that the Fantom Opera network will continue to operate until at least the end of 2026, and will continue to provide funding support for the cross-chain bridge during this period.The team stated that this decision was based on community feedback, as there were previous plans to cease operations of Fantom Opera by the end of this month. Meanwhile, Sonic Labs announced a new management structure, appointing Matt Visser as CEO and Kosta Kourkoumelis as COO, and indicated that they will publicly disclose team member responsibilities in the future, gradually phasing out the unified "Contributor" label.In addition, the project team stated that they will begin to lift some restrictions on community accounts, allowing for the expression of normal critical opinions, while establishing dedicated communication channels for disclosure, support, feedback, and developer collaboration, and planning to launch a more comprehensive ticket support system and community engagement activities. The team indicated that they will regularly disclose operational progress in the future.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the Fantom Foundation retrieved 11.074 million CRV (7.64 million USD) from Curve and then transferred it to Binance.

ChainCatcher news, Andre Cronje, co-founder of Sonic Labs (formerly Fantom), tweeted in response to "Monad Growth Director tunez's mocking remarks" that "Monad has not done the most basic investigation; Multichain is an independent third-party cross-chain bridge. Among the more than 10 affected chains, only Fantom continues to seek recovery. Considering that Monad's narrative changes every few months, it started as parallel EVM, now it has become MonadDB, and the next might be supersets. Monad's development network is a fork of Avalanche, and the fees are in AVA. Monad has a valuation of 3 billion but lacks a cross-chain bridge and technology; however, Sonic has already achieved what Monad promised and is busy with the next generation iteration."Previously, Monad Growth Director tunez had tweeted in celebration of Sonic Labs reaching 100 million USD TVL, mocking that "it's almost as much as they (Fantom) lost on Multichain."

ChainCatcher news, according to the official announcement, Curve has deployed its Curve-Lite version on the Sonic blockchain. Sonic is an upgraded version of the former Fantom blockchain.

ChainCatcher news, Sonic Labs posted on X stating that they are upgrading the tokenomics through four successful governance proposals for Fantom, which includes an airdrop of approximately 200 million S tokens. At launch, the circulating supply of S is about 2.88 billion, with an initial total supply of 3.175 billion, allowing for a 1:1 migration; six months after launch, the network will utilize a unique 9-month linear burn mechanism to mint 6% of the initial total supply to extend the airdrop activity to reward users/developers.Additionally, six months after launch, the network will begin to mint 1.5% of the initial total supply annually over six years to fund growth, while annually burning unused S to ensure effective use; starting four years after launch, the network will mint 1.75% annually to permanently reward validators. All unused ecosystem growth tokens will be accounted for and burned annually. By 2031, the maximum expansion cap for S is 15% (excluding block rate rewards), during which various burn mechanisms are expected to significantly reduce the rate of expansion.

ChainCatcher news, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its Sonic mainnet is officially live.

ChainCatcher news, Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet will go live next week.Previous news, on December 3rd, Sonic Labs (formerly Fantom) announced that its mainnet has generated the first block, marking the completion of the "Genesis" phase. Sonic Labs has completed the snapshot for the S token airdrop distribution, supporting a 1:1 exchange with Fantom's FTM token, and introduced Sonic Gateway to enable cross-chain bridging functionality.

ChainCatcher news, Sonic Labs (formerly Fantom) stated on social media that the deployment of the Sonic mainnet application has begun and will soon be open for public access.

ChainCatcher news, Sonic Labs (formerly Fantom) announced the launch of the upgraded testnet 2.0 "Blaze" in preparation for the mainnet launch. The official statement claims that this is a brand new Sonic testnet with highly enhanced performance features.

ChainCatcher message, according to the Cyvers Alerts system monitoring, polterfinance has reported an attack event on the Fantom chain, with over $7 million in crypto assets stolen. The attacker initially obtained funds on Ethereum through Tornado Cash, and the funds were later bridged to Fantom.The team has taken immediate action:The platform is suspended to control the vulnerability.The bridge has been notified, and the involved wallets have been traced to Binance.An active investigation into the vulnerability is underway.

ChainCatcher news, Michael Kong, the current CEO of the Fantom Foundation, announced that the Supreme Court of Korea unanimously dismissed all appeals by former Fantom CEO Byung-Ik Ahn on October 31, 2024. This means that the favorable ruling made by the Seoul High Court on June 19, 2024, in favor of the Fantom Foundation has been fully upheld, bringing an end to this legal dispute that has lasted for more than two years.In its ruling, the Supreme Court of Korea stated that after a comprehensive review, the appellant's claims lacked legal basis. Previously, Byung-Ik Ahn had repeatedly claimed that the foundation was "stolen," but the Seoul High Court determined that "there is no evidence to support this." Michael Kong particularly thanked the contributions of legal advisor RosettaLegal, stating that their accurate advice and in-depth understanding of the case played a crucial role in the victory. This ruling clears legal obstacles for the future development of the Fantom Foundation and is expected to boost market confidence in the project.

ChainCatcher news, HashKey Global announces the launch of perpetual contracts for Fantom (FTM), Brett (BRETT), Celestia (TIA), and Gala (GALA). Each contract is U-based, settled in USDT, with trading available 7*24 hours, a funding fee cap of +0.75%/-0.75%, and settlement every 8 hours.The specific contract information is as follows: FTMUSDT contract has a contract size of 10 FTM, a minimum tick size of 0.0001, and a maximum leverage of 10x; BRETTUSDT contract has a contract size of 100 BRETT, a minimum tick size of 0.00001; TIAUSDT contract has a contract size of 1 TIA, a minimum tick size of 0.0001; GALAUSDT contract has a contract size of 100 GALA, a minimum tick size of 0.00001.

ChainCatcher news, Sonic Labs (formerly Fantom) chooses LayerZero to provide interoperability for Sonic.

ChainCatcher message, Sonic Labs (formerly Fantom) has issued a reminder on social media that the S token has not yet been launched. Any advertisements claiming that S airdrop claims or migrations are open are scams.

ChainCatcher message, according to monitoring by 0xScopescan, another newly created wallet received 16.7 million FTM (6.5 million USD) from 21Shares Fantom ETP.

ChainCatcher news, according to Coingape, Fantom has announced its rebranding to Sonic Labs.Sonic Labs plans to gain support by introducing a large-scale incentive program, and Sonic will use the S token. This new token will enter the ecosystem through large-scale airdrops, simplified staking, incentive programs, and more. Although the transition from Fantom to Sonic Labs has been completed, the launch of Sonic will wait until Q4.According to the description provided on the Sonic Labs launch page, Sonic is a Layer-1 platform with a secure gateway to Ethereum.

ChainCatcher news, the Fantom Foundation announced on social media that it has distributed sFTMx rewards to the winners of the first round of Meme Season, with a total prize amount of approximately $500,000, of which 80% is awarded to holders.Previously, on July 9, the Fantom Foundation announced the list of winning projects for the first round of Meme Season, with HOOPS in first place, THC in second place, and sGOAT in third place.