Odaily Planet Daily News Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has generated its first transaction block, marking the completion of the 'Genesis' phase, and it is expected to officially launch soon. The team previously announced that the mainnet is expected to go live by the end of November or early December, which means it is likely to maintain this timeline. Last Sunday, Sonic Labs stated that it had taken a 'snapshot' for the airdrop of S tokens. The tokens will be exchangeable at a 1:1 ratio with the existing FTM tokens from Fantom after their launch. The new chain will utilize an Ethereum bridge called Sonic Gateway, allowing the platform to leverage Ethereum's liquidity and user base while maintaining its own high throughput and low transaction costs. It will also have a shared sequencer, enabling it to generate and protect blocks for multiple rollups simultaneously. (The Block)