{"id":635433,"date":"2024-08-14T20:30:20","date_gmt":"2024-08-14T20:30:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=635433"},"modified":"2024-08-14T13:39:39","modified_gmt":"2024-08-14T13:39:39","slug":"ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ftm-core-proposals-spark-16-rally-ahead-of-sonic-mainnet-launch-details\/","title":{"rendered":"FTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch – Details"},"content":{"rendered":"

Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to <\/span>CoinGecko<\/span><\/a>, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.\u00a0<\/span><\/p>\n

Related Reading: Celestia (TIA) Gains 14% Following Network Upgrade Announcement<\/a><\/div>\n

The new Sonic Labs is poised to continue Fantom\u2019s legacy as four core proposals are now underway for the eventual release of the Sonic mainnet. If passed, the proposals will provide users and developers with a smooth transition to the Sonic network once D-day arrives.\u00a0<\/span><\/p>\n

Core Proposals Promise Smooth Transition To Sonic<\/span><\/h2>\n

According to the <\/span>Sonic Labs<\/span><\/a> X account, four proposals will affect the user experience during the switch to the Sonic network. The most <\/span>notable<\/span><\/a> is the proposed one-to-one ratio between FTM and $S, the native token of the new network. The new token will act like the old FTM token, with 3,175,000,000 $S tokens on Genesis Day.\u00a0<\/span><\/p>\n

\n

With @MessariCrypto<\/a>‘s Q2 2024 report, we looked back at the latest quarter in the world of #Sonic<\/a>, including 4 governance proposals:<\/p>\n

\ud83d\udcb5 190.5M $S<\/a> Airdrop
\n\ud83d\ude80 $FTM<\/a> to $S<\/a> Compatibility
\n\ud83d\udcb0 Ongoing Funding
\n\ud83d\udc65 Validators\/Builders<\/p>\n

Let’s explore the report \ud83d\udc47 pic.twitter.com\/Sypi35TTF4<\/a><\/p>\n

\u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024<\/a><\/p><\/blockquote>\n

As a general \u201cthank you\u201d gesture to Opera users, the platform will allocate over 190,500,000 $S tokens to airdrop. The airdrop also has safeguards to protect the market from a sudden influx $S tokens. It will have a burn mechanism that penalizes users who choose to claim their airdrop position on day 1, burning almost 100% to 88.9% of the tokens vested for the user.\u00a0<\/span><\/p>\n

This gives users time to contribute to the overall on-chain activity while providing a guaranteed long-term gain. The new users are also eligible to receive the airdrop once the network is released.\u00a0<\/span><\/p>\n

\n

4\ufe0f\u20e3 Validators\/Builders<\/p>\n

This proposal approved:<\/p>\n

\u2705 Validator rewards migrated from Opera to #Sonic<\/a><\/p>\n

\ud83d\ude80 Apps in GasM can earn up to 90% of gas with a new burn model<\/p>\n

\ud83d\udcb0 Ecosystem Vault funds allocated to @SonicCouncil<\/a><\/p>\n

\ud83d\udd12 14-day staking lock-up period<\/p>\n

\ud83d\udd17 https:\/\/t.co\/KCAtB2rm7t<\/a><\/p>\n

\u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024<\/a><\/p><\/blockquote>\n

Funding for the new network is also secured as they allocate 47,625,000 $S tokens for running Sonic Spark and Sonic University, providing developers the know-how to build on the platform. To ensure zero wastage of the funds, Sonic will burn the remaining funds if not used within a specified time frame. For example, if only half of the whopping 47,625,000 $S tokens were used, the other half would be burned to protect the integrity of the network while ensuring the funds are not wasted.\u00a0<\/span><\/p>\n

\"\"
FTMUSD trading at $0.37 on the 24-hour chart: TradingView.com<\/a><\/figcaption><\/figure>\n

Validator rewards will also be migrated from Opera to Sonic to promote the use of the network while protecting $S from too much inflation in the first four years.\u00a0<\/span><\/p>\n

FTM Price To Stabilize On This Level Ahead Of Sonic Network Launch\u00a0<\/span><\/h2>\n

As of press time, the token is struggling to flip the $0.3689 ceiling to support which is crucial for the bulls in the long term.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Related Reading: AVAX Set For ATH? Analysts Predict Explosive Rise To $285<\/a><\/div>\n

Although the token is seemingly slowing down, the market\u2019s general positivity will pick up in the coming days, pushing bears off of the FTM market. This will open the opportunity to retake $0.3689 in the short term while providing the bears a solid support level to take $0.4855 in the long term.\u00a0<\/span><\/p>\n

Featured image from Zipmex, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. According to CoinGecko, FTM gained more than 17% since last week, representing the hype their network migration caused within the community.\u00a0 Related Reading: Celestia (TIA) Gains 14% Following Network Upgrade Announcement The new Sonic Labs is poised to continue Fantom\u2019s legacy as four core proposals are now underway for the eventual release of the Sonic mainnet. If passed, the proposals will provide users and developers with a smooth transition to the Sonic network once D-day arrives.\u00a0 Core Proposals Promise Smooth Transition To Sonic According to the Sonic Labs X account, four proposals will affect the user experience during the switch to the Sonic network. The most notable is the proposed one-to-one ratio between FTM and $S, the native token of the new network. The new token will act like the old FTM token, with 3,175,000,000 $S tokens on Genesis Day.\u00a0 With @MessariCrypto‘s Q2 2024 report, we looked back at the latest quarter in the world of #Sonic, including 4 governance proposals: \ud83d\udcb5 190.5M $S Airdrop \ud83d\ude80 $FTM to $S Compatibility \ud83d\udcb0 Ongoing Funding \ud83d\udc65 Validators\/Builders Let’s explore the report \ud83d\udc47 pic.twitter.com\/Sypi35TTF4 \u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024 As a general \u201cthank you\u201d gesture to Opera users, the platform will allocate over 190,500,000 $S tokens to airdrop. The airdrop also has safeguards to protect the market from a sudden influx $S tokens. It will have a burn mechanism that penalizes users who choose to claim their airdrop position on day 1, burning almost 100% to 88.9% of the tokens vested for the user.\u00a0 This gives users time to contribute to the overall on-chain activity while providing a guaranteed long-term gain. The new users are also eligible to receive the airdrop once the network is released.\u00a0 4\ufe0f\u20e3 Validators\/Builders This proposal approved: \u2705 Validator rewards migrated from Opera to #Sonic \ud83d\ude80 Apps in GasM can earn up to 90% of gas with a new burn model \ud83d\udcb0 Ecosystem Vault funds allocated to @SonicCouncil \ud83d\udd12 14-day staking lock-up period \ud83d\udd17 https:\/\/t.co\/KCAtB2rm7t \u2014 Sonic Labs (prev. Fantom) (@0xSonicLabs) August 13, 2024 Funding for the new network is also secured as they allocate 47,625,000 $S tokens for running Sonic Spark and Sonic University, providing developers the know-how to build on the platform. To ensure zero wastage of the funds, Sonic will burn the remaining funds if not used within a specified time frame. For example, if only half of the whopping 47,625,000 $S tokens were used, the other half would be burned to protect the integrity of the network while ensuring the funds are not wasted.\u00a0 Validator rewards will also be migrated from Opera to Sonic to promote the use of the network while protecting $S from too much inflation in the first four years.\u00a0 FTM Price To Stabilize On This Level Ahead Of Sonic Network Launch\u00a0 As of press time, the token is struggling to flip the $0.3689 ceiling to support which is crucial for the bulls in the long term.\u00a0 Related Reading: AVAX Set For ATH? Analysts Predict Explosive Rise To $285 Although the token is seemingly slowing down, the market\u2019s general positivity will pick up in the coming days, pushing bears off of the FTM market. This will open the opportunity to retake $0.3689 in the short term while providing the bears a solid support level to take $0.4855 in the long term.\u00a0 Featured image from Zipmex, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":635441,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,6664,9376,43491,92821],"class_list":["post-635433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-crypto","tag-fantom","tag-ftm","tag-sonic"],"acf":[],"yoast_head":"\nFTM: Core Proposals Spark 16% Rally Ahead Of Sonic Mainnet Launch - Details<\/title>\n<meta name=\"description\" content=\"Fantom\u2019s migration to Sonic is now underway, putting the platform under the spotlight which caused FTM, the native token of Fantom, to jump. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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