Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet has generated the first transaction block, marking the completion of the "Genesis" phase and is expected to be officially launched soon.
The team previously announced that it expects the mainnet to be launched in late November or early December, which means it is expected to maintain this schedule.
Last Sunday, Sonic Labs said that it had taken a "snapshot" for the airdrop S token allocation. After the launch, the token can be exchanged with Fantom's existing FTM token at a 1:1 ratio.
The new chain will use an Ethereum bridge called Sonic Gateway, allowing the platform to take advantage of Ethereum's liquidity and user base while maintaining its own high throughput and low transaction costs. It will also have a shared sorter that enables it to generate and protect blocks for multiple rollups at the same time. (The Block)