It is a sad day for all believers of Fantoms, ghosts, and their likes. When exact the migration will happen is still a bit unclear as far, but the end of the year is whats reported. Let us take a look at Sonic and what the migration will bring.

Sonic migration

Let us take a look at what the info on Sonic have to say: 

Sonic is a layer-1 platform with a secure gateway to Ethereum and provides the fastest settlement layer for digital assets with over 10,000 TPS and one-second confirmation times for transactions.

The new chain will almost be as fast as the OG Sonic. To be clear Sonic have no relation to the blockchain.

If we compare this to what Fantom current numbers looks like. We see that the theoretical max TPS number for Fantom is just shy of 1,500 TPS. And TPS stands for Trades Per Secons. That puts the speed of Sonic well over 6 times that of Fantoms, 6.666 to be precice.

The new coin will, just like with Fantom, keep the new chains name of Sonic. It will however only use the $S apreviation. That is the first one I have come accross that have cosen only to use one letter instead of the normal three. 

As a L1 chain on Ethereum there will obviously ne a beed for transfering tokens and coins between the different players. And there the Sonic Gateway will do the heavy lifting. Acording to the team it is a "decentralized, trustless bridge between Ethereum" that is both secure, fast and decentralized. You do however have to take their words for it, as I have not looked into the gateways inner workings. And to be honnes Im not really sure I would be able to make out heads or tales even if I did. But I will link to it below so you can give it a look if you are interested.

What will hapen with the $FTM?

The number of $S will initially be the same as the number of $FTM, 3,175,000,000. This allows for a seemless 1 to 1 swap that can be done in the gateway. Not sure about any staked or locked $FTM, if that will be converted for you automaticly, or if you just have to wait or unstake and then do it manually. I assume that any exchanes will do the swap automaticly for you if you have $FTM there. But do pay attention when the new chain goes online if you have $FTM or any other on-chain tokens. They also have said that they will put out more information as we get closer to the lanche date.

6 months after the start of Sonic an additional 6% of the 3,175,000,000 $S will be minted. This will be used in the Airdrop program, rewarding both Opers users (the original Fantom chain), Sonic users and builders. More on the airdrop bellow.

There will also be minted an additional 1.5%, 47,625,000, $S at the same time. This will be done annually over the six first years. These minted $S will be earmarked for marketing and to spread the addoption of the Sonic chain. However, any unused $S will be burned as a way to mitigate inflation. I take this to mean they are not exactly sure what they are going to do in detail, and presumably they are open to new projects as well. 

The Airdrop

The amount of $S alocated for the airdrop will be 190,500,000 $S. That is with the curent price of $FTM just over $131 million, so it is fair to say it is a large airdrop. At least one of the larger once I have seen. It will however be devided into a few different "types" for a lack of a better word. 

37.5% of the total airdrop allocated to holders of Sonic Gems. I assume these are the same as the points you can get for compleating different taks associated with the airdrop. But to be honest I am not sure. I know that deveopers are able to earn the gems from the Sonic Boom bounty program. But hopefully the other points count as gems as well. =)

What will you get?

An unknown part of the airdrop will also go to Opera users, Opera and Fantom is more or less the same thing. So if you have used Fantom you might get a pice of the action. Whet exactly you need to do here is a bit unclear. But according to the information these things are soem of what they value;

• Liquidity providers (LPs) across a range of apps
• Historical validators and delegators
• Opera Multichain bridge affected wallets
• Liquid staked token (LST) holders, such as sFTMx, beFTM, and ankrFTM
• Opera NFT holders, marketplace users, collection creators, etc.
• Miscellaneous Opera protocol usage and participation

But that list is not final. Another, also unknown part, will go to users of the new Sonic chain. And the list of what is valued there is this;

• Liquidity providers (LPs) across a range of Sonic apps
• Staking/validating on Sonic
• Liquid staked token (LST) holders
• Verified contract deployers with high gas consumption
• Audience activation campaign and quest participants
• Miscellaneous Sonic protocol usage and participation
• Users who have bridged funds to Sonic

The obvious stand out there is the last one, bridging funds to the new chain.

One thing to note after you get your slice of the pie is that as stated above, it will not be avalible untill after the 6 first months, as thats when it gets minted. So do not go expecting any day one thing. The second part ties back to day one expectations. This is the fact that only 25% of the airdrop will be liquid on day one. The remaining 75% will have a vesting period of 270 days, or nine months if you will. Vesting is just a fancy way of saying the funds are locked and you cant access them. There is however an aterix here. There is a way to unvest the 75% early. This is by burning a part of it. The longer you wait the more you get to keep. There are two examples in the information on their page, link below.

Then there is a serries of quests you can do getting you 5 NFT´s and a total of 2,000 points. It is these I hope are the same as the Sonic Gems mentioned above. If you want to take part in the quests they are ending in October prior to the mainets lanch. If this means October 1, I dont know. They do not give any date. 

https://app.galxe.com/quest/SonicLabs

If you have any problem with some of the quests let me know in the comentsection, or any other way you can get a hold of me. I will try and help to the best of my ability. As an example I have some Gravity already bridged, that is needed in order to claim the points. Other than that I think you will need $110-140 in avalible funds in order to be able to compleat some of the quests. Good luck with the airdrop hunting!

By the way, no idea if it matters or not if you actually compleat all the quests to get the NFT´s, or if you can just buy them. They are avalable for sale of you look for them. Just a heads up.

In case you want to watch a breakdown of the airdrop

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Picture provided by: fair use, https://pixabay.com/,