Fantom (FTM) has officially rebranded to Sonic Labs on August 1st. However, the change from native token FTM to new native token $S will happen by the end of 2024, according to Fantom’s team.
Sonic will become a new layer-1 player in the market. Meanwhile, the FTM price, which is still the native token’s name, is on an upward trajectory with another 8% pump today. This could be welcome news for holders, considering most altcoins are either staying flat or correcting 5-15% as we enter Q4.
Existing FTM holders will convert their tokens to S at a 1:1 ratio during the migration process.
The rebranding of Fantom to Sonic Labs marks a significant shift in the project’s identity. As a layer-1 blockchain, Sonic aims to compete with established players in the market. The transition from FTM to $S tokens is expected to be a key milestone in this evolution.
Travel back to the 80s and start earning points for the $S airdrop, currently worth ~$130 million!#SonicArcade features 3 play-to-earn games initially — Plinko, Mines, and Wheel — each offering airdrop points. https://t.co/YoUPmlKy9d pic.twitter.com/nv8BMp4L50
— Sonic Labs (prev. Fantom) (@0xSonicLabs) September 30, 2024
While many altcoins are experiencing a downturn, FTM has shown resilience with its recent price increase. This performance stands out in the current market landscape, where volatility remains a constant factor.
The Differences between FTM and S
Feature FTM S Token Type Native token of the Fantom blockchain Native token of the Sonic blockchain Functionality Used for staking, governance, and fees Optimized for cross-chain capabilities and transaction processing Transaction Speed Up to 200 TPS Targeting over 10,000 TPS Transaction Fees Standard gas fees Lower and more efficient fees Reward Structure Fixed rewards for staking Dynamic rewards tied to network performance Interoperability Limited cross-chain support Designed as a bridge asset for seamless transfers across blockchains Supply Dynamics Existing supply maintained New supply introduced with community airdrop planned
Which Low-Cap Crypto to Watch?
PandaWorld, represented by the token $PADW, is a new entrant in the meme coin sector that combines elements of gaming, community engagement, and profit-sharing to create a unique ecosystem. This project might be worth keeping an eye on in Q4.
The token is currently in presale and has raised $120,000 within weeks.
The project revolves around the adventures of six panda siblings and offers a turn-based RPG where players can embark on quests, collect cards, and build teams. Additionally, it features a casino platform. PandaWorld also plans to introduce a platform for users to create and share digital content.
The total supply of $PADW tokens is set at 88.8 billion, and the token can only be purchased through the official presale website before it hits exchanges later this year.
Read also: Massive Whale Activity for Injective (INJ), Shiba Inu (SHIB), and These Altcoins
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The post Comparing Fantom and Sonic: What’s New with Token S as FTM Price Pumps Again appeared first on CaptainAltcoin.
