Sonic Labs (ex. Fantom Chain) (S)

Sonic Labs is an EMV-compatible highly scalable L1 network designed to facilitate the development of the DeFi ecosystem on its chain by offering web3 devs various incentives and robust infrastructure.

It delivers users low-cost and fast transactions with sub-second finality and 10,000 TPS network throughput capacity. Meanwhile, web3 developers receive much greater flexibility in developing their apps as Sonic supports not only Solidity but also Vyper coding language without compromising its EVM compatibility, meaning developers have an opportunity to build tailored to specific needs applications on Sonic. 

Finally, the other advantage of Sonic Labs is its active support of new web3 builders to either add existing or build new applications on its chain with $S airdrops and multiple funds programs, as well as enabling them to monetize fees users pay when engaging with dApps.

Such a big funding program comes from a $91,6M Fantom Foundation pool and already circulating $FTM token with over $1.96B Market Cap. Basically, Sonic is a rebranded name of the same Fantom Foundation with an updated token ticker $S, and a new chain.  

🪙 Sonic token ($S): According to the Sonic docs, the $S token will be equal to the $FTM in a 1:1 ratio, moving all of the previous $FTM allocation model to the new $S token. However, the company also mentions that soon, after the end of its current quest campaign dedicated to its rebranding, it will mint another 6% of the current total $S supply worth around $134M to airdrop tokens to the active quest participants. 

Considering a large surge in attention towards Sonic blockchain among the web3 community in recent weeks, our team completely analyzed the Sonic Labs crypto project and found some interesting pros and cons to help you decide whether it is worth jumping into the Sonic airdrop campaign or not: 

✅ Fantom (Sonic labs) pros: 

• Large userbase, yet it might be a disadvantage when talking about the Sonic airdrop perspective;
• Decent concept and design of the product;
• $FTM token is already in circulation and has 100% of its supply unlocked, so there won’t be a “low Initial MC, high FDV” issue;
• Fantom chain is one of the most famous L1s in the previous 2021 bullrun;
• The platform claims it has been already audited by top security companies like OpenZeppelin, Quantstamp, and Certara, but our team hasn’t found any public report from any of those audits; 
• Very high SMM, and Growth Marketing scores;
• High PR, and Influencer Marketing performances;
• Above the average SEO score;
• A solid network of investors, yet it lacks tier-1 funds;
• Diverse ecosystem of partners;
• One of the core team members has a work record at the Ethereum Foundation.

❌ Fantom (Sonic labs) cons: 

• Below the average marketing infrastructure score;
• High FDV and Market Cap ($1.96B);
• Mint of another 6% of the current supply will negatively impact the current price of the token;
• No public report of any security audit of the Sonic chain;
• Most of the core team members don’t have work experience at top-tier companies if not to consider the Fantom Labs itself from which Sonic was technically rebranded.