Sonic Labs Launches Gateway to Bridge FTM Tokens to Sonic Network

Sonic Labs announced on December 25 the launch of its Sonic Gateway, enabling the bridging of FTM tokens from Ethereum to Sonic’s native S tokens. The conversion will occur at a 1:1 ratio, providing seamless integration between the two ecosystems. 

The gateway supports additional assets, including Euro Coin (EURC), USD Coin (USDC), and Wrapped Ethereum (WETH), enhancing its utility. Sonic Gateway also incorporates mechanisms to ensure secure and efficient transactions, further expanding its ecosystem.  

Transition from Fantom to Sonic Ecosystem  

Sonic is a new blockchain compatible with Ethereum Virtual Machine (EVM). The mainnet officially launched on December 13, backed by co-founder Andre Cronje. With a design focus on speed and efficiency, the Sonic blockchain aims to process 10,000 transactions per second with block finality in under one second.  

The S token, native to Sonic, shares the same supply limit of 3.175 billion as Fantom’s FTM tokens. Sonic Labs has allocated 190.5 million S tokens to incentivize participation and engagement within its growing ecosystem.  

Meanwhile, the Fantom network will remain operational. Users can continue utilizing Fantom, which currently holds $110 million in total value locked (TVL). This  reflects an 18% decline over the past year, according to DefiLlama.  

Enhanced Security Features  

The Sonic Gateway introduces advanced security measures to bridge Sonic and Ethereum networks effectively. Validators maintain transaction security by operating Sonic and Ethereum Light Clients. A fail-safe mechanism ensures users can recover assets if the gateway becomes non-functional for over 14 days.  

To optimize costs, the gateway batches transactions for processing. While this may cause minor delays, users can expedite transactions through the Fast Lane by paying a fee. Estimated delays are 10 minutes from Ethereum to Sonic and 1 hour in the reverse direction.  

Sonic’s innovative features and robust security highlight its potential as a scalable blockchain ecosystem.