Sophon Launches Mainnet with Over $500 Million in Total Value Locked (TVL)
The post Sophon Launches Mainnet with Over $500 Million in Total Value Locked (TVL) appeared on BitcoinEthereumNews.com.
Advertisement     Sophon has launched its main net and become the first-ever Validium on ZKsync powered by Avail DA, with $500 million in total value locked (TVL) through the Sophon farming program. At the same time, the project is happy to announce several strategic partnerships with Mirai Labs, Open Ticketing, Aethir, Rivalry, and Anomaly, geared towards building scalable, consumer-focused blockchain applications. Already, Sophon has a strong community of supporters with over 120,000 node licenses purchased by more than 5,800 unique participants, who are now open to claim. Also, the project’s native token, SOPH, has been deployed in a non-transferable state. Transactions with the token will be free in this initial phase, and node holders will begin getting rewards from January 1st, while full token transferability and trading is expected in Q1 2025. Pioneering Consumer-First Crypto Sophon is a blockchain project focused on entertainment applications. This is in response to the needs of mainstream users who place experiences and value over the core blockchain technology itself. Advertisement   With this approach, the project creates the right environment for blockchain to enhance experience. This explains the collaboration with partners such as Beam, which is launching the first gaming-focused fund and accelerator in Abu Dhabi with a target size of $150M. Sophon will support Beam in advancing blockchain gaming by seeding the $40M Tactical Compute initiative, focusing on projects building with crypto and AI. By using an external data availability layer powered by Avail, Sophon also offers scalability, security, and savings. It also offers a fully decentralized, high-performance platform using Avail’s modular application development stack to create its own Light Nodes, which sets a new benchmark for new blockchains. Commenting on the project, Alex Gluchowski, co-inventor of ZKsync, said: “Sophon’s mainnet launch on ZKsync marks a pivotal moment in the evolution of…
Filed under: News - @ December 19, 2024 4:24 am