Sonic SVM, based on Solana's L2 mainnet Mobius, is officially launched and introduces a reward program of 2.4 million $SONIC
PANews reported on February 28th, according to Sonic SVM's announcement, the Layer 2 expansion network Mobius based on Solana Virtual Machine (SVM) has officially launched its mainnet. It aims to enhance the scalability of Solana and provide a dedicated computing layer for high-frequency applications such as DeFi and GameFi.
Sonic SVM uses the HyperGrid framework, maintaining full compatibility with the Solana ecosystem while reducing transaction costs by 50% compared to the Solana mainnet and providing millisecond-level RPC responses. In addition, Sonic SVM has launched a mainnet reward program totaling $2.4 million in SONIC tokens and a $1 million hackathon to encourage developers to deploy applications on Mobius. The first season of activities on Mobius is now underway until April 10th; developers and users can enter the Sonic SVM ecosystem, experience blockchain games and DeFi applications, and earn rewards.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
Crypto prices
More
