Sonic Mainnet Goes Live With FTM to S Migration Now Open

Sonic Mainnet Goes Live With FTM to S Migration Now Open

Sonic has officially launched its mainnet, offering a high-throughput blockchain with EVM compatibility and speeds of up to 10,000 transactions per second. Users can migrate FTM tokens to Sonic’s S tokens on a 1:1 basis during the first 90 days via the MySonic portal.

The Sonic Gateway, launching within 48 hours, facilitates cross-chain transfers with rapid processing times of 10–15 minutes on Ethereum and near-instant finality on Sonic. The network introduces Fee Monetization, enabling developers to earn up to 90% of app-generated fees, while users can explore apps and staking features on MySonic.

Airdrop programs, including Sonic Points and Sonic Gems, aim to incentivize early adopters and app innovation. With plans for future interoperability and expanded validator networks, Sonic positions itself as a decentralized solution for scalable blockchain applications.

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Kraken’s Ink L2 Rollup Launches Ahead of Schedule

Kraken’s Ink layer 2 network, utilizing Optimism’s OP Stack, debuted months earlier than planned, reflecting accelerated innovation. The platform boasts better scalability, security, and privacy while leveraging Kraken’s expertise as the seventh-largest crypto exchange. Developers and users gain access to improved on-chain functionalities and liquidity.

A $58 million grant in OP tokens underpins the Ink project’s development, furthering integration within the Optimism Superchain. Ink’s launch parallels similar rollups like Coinbase’s Base, setting benchmarks for L2s and financial sector participation. Kraken’s ambitions aim to modernize blockchain infrastructure with user-friendly experiences.

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HashKey Chain’s Mainnet Launch Marks Scaling Milestone

HashKey Group unveiled its Ethereum layer 2 HashKey Chain just eight months after initial announcements. Testing phases demonstrated remarkable adoption with 25 million transactions, 860,000 wallet addresses, and support for 50 projects. The network reaches up to 400 transactions per second, cementing its position within the Optimism Superchain.

HashKey Chain’s HSK token is live across exchanges, enabling governance participation. A $50 million developer grant program promotes innovation with non-dilutive funding and hackathon opportunities. As a Hong Kong-based provider, HashKey bridges regulated financial services with blockchain scaling, influencing regional and global adoption trends.

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Deutsche Bank Ventures into Ethereum L2 with ZKsync

Deutsche Bank, through Project Dama 2, is developing an Ethereum layer 2 blockchain leveraging ZKsync technology. Created to improve adherence within regulated finance, the platform pairs financial transparency with blockchain efficiency. Trusted validators and regulator oversight mitigate risks, aligning with standards set by Singapore’s Project Guardian.

The project addresses challenges faced by public blockchains in compliance-heavy sectors, opening doors for institutional adoption. Deutsche Bank’s approach incorporates super admin rights and targets regulatory approval by 2025. Success could set precedents for broader decentralized finance integration in traditional banking.

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Data of the Day

Solana set a new record with 66.9 million daily transactions during the debut of the PENGU token. The event highlighted Solana’s dominance in daily decentralized exchange trading and active addresses, though stablecoin transfer volumes lagged behind competitors. High transaction volumes reflect Solana’s appeal among retail investors targeting NFTs and meme coins.

The PENGU token debuted with a market cap of $2.3 billion, supported by massive airdrop participation. Solana’s SOL token saw an uptick in value, paralleling Bitcoin’s rally. However, market caution ahead of monetary policy decisions tempers short-term growth prospects for the network.

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More Breaking News

• An automated market maker for Bitcoin's Runes protocol launched on Stacks, to address slow transactions, high fees, and other challenges around Runes trading.
• Coinbase responded to a lawsuit by Justin Sun-connected BiT Global over the delisting of wBTC, defending its decision and launching a rival cbBTC product.
• Bitwise launched a Solana staking exchange-traded product in Europe, offering competitive staking rewards while awaiting US regulatory approval for its SOL ETF.
• Ethena and World Liberty Financial announced a collaboration, starting with the potential integration of Ethena's yield-bearing token sUSDe on WLFI’s protocol.
• Remote and Stripe introduced USDC payments for US companies to pay contractors in 69 countries, providing faster, inflation-resistant compensation options.
• Polygon community members rejected a proposal to deploy over $1 billion in stablecoins for yield generation, citing security concerns.
• Wormhole and Nuffle Labs are collaborating to expand EigenLayer’s restaking functionality beyond Ethereum, enabling cross-chain restaking without bridging.

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