Sonic Labs Airdrops 37.5% of S Tokens to Gems Holders
CryptoNewsTerminal Staff20 Aug, 2024
Sonic Labs Airdrops 37.5% of S Tokens to Gems Holders
Sonic Labs, the company behind the Layer-1 blockchain Sonic Network (formerly Phantom), has announced the launch of a bounty program. As part of this program, users who have accumulated Gems points within the Sonic Labs ecosystem will be airdropped 37.5% of the total supply of Sonic Network's native token, S. This is worth approximately $28 million. In addition to the airdrop, Sonic Labs also plans to select up to 30 projects that have excelled in the development of applications that run on the Sonic Network. These projects will be provided with Gems as a bounty. The bounty program is designed to reward early adopters of the Sonic Network and to encourage the development of a vibrant ecosystem of applications on the network.
