Demex Daily #235: Sonic Labs Testnet Goes Live with Fast Transactions

What’s Interesting Today:

Fantom, now rebranded as Sonic Labs, has rolled out its testnet, processing over 106 million transactions. The testnet has created 70 million blocks with an average block time of 0.45 seconds and a finality time of 0.76 seconds, positioning it as one of the quickest EVM blockchains. Despite this, the FTM token, which will eventually be replaced by the S token, fell by 1.2% to $0.37, although it had been rising steadily over the past year. Sonic Labs, focusing on dApp development, was introduced alongside the Sonic Foundation, which will manage governance. This rebranding follows a $10 million investment round and the launch of the Sonic Boom bounty program, aimed at encouraging developers to build various solutions, with rewards for winners until Nov. 4.

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PixelRealm has partnered with Neon EVM to enable Ethereum-based games to run on Solana without recoding. This integration reduces development time and costs by allowing existing Ethereum codebases to be deployed on Solana. The collaboration, amid a surge in blockchain gaming investments, will launch Kugle, a mobile game with NFTs and a virtual universe. Neon EVM's infrastructure facilitates seamless deployment of EVM-based applications on Solana, aiming to streamline development and reach new audiences. PixelRealm, backed by Binance Labs and Polygon Studios, seeks to bridge traditional gaming with Web3 technologies.

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