Demex Daily #309: Sonic Launches as Fantom's Rebranded Layer 1

What’s Interesting Today:

Fantom has rebranded to Sonic, launching its high-throughput Layer 1 mainnet. Users can convert FTM to the new native token, S, and participate in staking. An airdrop of 190 million S tokens will be distributed based on "Sonic Points." Sonic offers 10,000 TPS, near-instant finality, and is EVM-compatible, aiming to succeed Fantom's previous success.

Trade SONIC FTM-PERP on Demex

Blockaid has launched the "State of the Chain" dashboard, offering insights into Web3 security and on-chain activity for 2024. The interactive tool covers dApps, token activity, and emerging risks such as scams and malicious tokens. Despite security efforts, 71 million attacks were prevented, yet scams and rug pulls resulted in over $1B in losses. The dashboard highlights threats, with 59.3% of new tokens flagged as malicious and a sophisticated DeFi attack noted in July. The tool emphasizes the importance of Web3 security investments amid ongoing threats.