Sonic, which is transformed from the Fantom blockchain, is preparing for its public release. Following the announcement from its developers, Sonic Labs, that 'Genesis is complete' (referring to the first completed transaction block on the blockchain), block 0, and infrastructure is being deployed, the native token FTM of Fantom surged nearly 30%.

Due to the fact that FTM tokens can be converted 1:1 into S after the official launch of Sonic, many traders have rushed to position themselves. The token has risen over 80% in the past two weeks, reaching its highest level since April 2022, with the fully diluted valuation (FDV) breaking 4 billion dollars for the first time in over two years. As of the deadline, the trading price of FTM was $1.265.

Sonic also stated that the decentralized finance protocol Frax Finance will be deployed on Sonic and released a teaser they termed 'Meme Mania'. According to the tweet, 'Meme Mania' could be a meme coin trading event featuring a prize pool of 1 million S.

DeFi protocol Yearn and Fantom founder Andre Cronje stated on community platform X: 'This is just the beginning, cross-chain bridges and infrastructure will go live in the coming days, then the real fun begins. I will launch my dapps in stages; bringing ICOs, fair launches, and retroactive airdrops back to show what Sonic can really do.'

Arthur Hayes, the founder of cryptocurrency exchange BitMEX, recently proposed the revival of the ICO model in a new article, mentioning Andre Cronje in the text. Cronje was very pleased and stated that he intends to conduct ICOs for all his dapps on Sonic.

Cronje wrote:

'Today's fair launches have a 'nothing at stake' problem, but by combining fair launches, retroactive airdrops, and ICOs (which are actually just very cheap options), I think it can bring things back into alignment.'

The developers are also preparing for the public release of Sonic. Daniele Sestagalli, the founder of Abracadabra and Wonderland, has proposed deploying the Wagmi protocol on Sonic and hinted at AI agent attempts on Sonic.

Just the start. Bridge and infra going live over next few days. Then the real fun begins. Will launch my dapps in stages; bringing ICOs, fair launches, and retroactive airdrops back to show what Sonic can really do. https://t.co/LcbXvbPiEC pic.twitter.com/ZZBDrwULI8

— Andre Cronje (@AndreCronjeTech) December 2, 2024

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