Demex Daily #262: Sonic Labs Reveals Litepaper with FTM Migration and $S Airdrop

What’s Interesting Today:

Fantom's rebranded Sonic Labs released its litepaper on Oct. 14, outlining the FTM token migration, governance token $S, and an upcoming airdrop. $S will be distributed through a points-based airdrop, loyalty rewards, and a 1:1 migration for FTM holders. FTM, now trading at $0.77, is up 52% in the past 30 days. Sonic's testnet, launched in September, boasts high throughput, with potential for 900 million daily transactions. The "Sonic Boom" bounty program, ending Nov. 4, will reward top projects with Sonic Gems, which will allocate 37.5% of the $S airdrop.

Trade SONIC LABS FTM-PERP on Demex!

Waves founder Sasha Ivanov announced the upcoming launch of the Units protocol, aimed at solving blockchain interoperability without relying on centralized bridges, which have been prone to major hacks. Speaking at the Future Blockchain Summit, Ivanov emphasized that seamless interoperability is essential for the growth of Web3 and DeFi, as fragmented ecosystems hinder progress. Units will allow all blockchains built on the protocol to be interoperable by default, ensuring consistent economic guarantees across layers. Ivanov also highlighted plans to provide grants for projects within the new ecosystem after its launch at the end of October.