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News

Sonic Gateway Is Now Live to Support Cross-chain Transfer

12 hours ago - Around 2 mins mins to read

Key Points:

  • Sonic Labs launched Sonic Gateway, a decentralized cross-chain bridge for secure transfers of USDC, EURC, WETH, and FTM between Ethereum and Sonic Chain.
  • The tool has been audited by top security firms and includes a $2 million bug bounty program to ensure enhanced security.
Sonic Labs has just introduced Sonic Gateway, a cross-chain bridging tool that is decentralized in nature.
Sonic Gateway Is Now Live to Support Cross-chain Transfer

Read more: Sonic Review: Next-Generation EVM Layer 1 Blockchain 

Sonic Labs Introduces Sonic Gateway to Secure Cross-Chain Transfers

Sonic Gateway makes it possible to securely bridge USDC, EURC, WETH, and FTM between Ethereum and the newly launched Sonic Chain, an EVM-compatible layer-1 blockchain.

The introduction of Sonic Gateway eliminates the risks of third-party involvement and centralization, hence being a significant enhancement to blockchain bridging technology. The robustness of the tool has been considered through audits by leading security auditing firms like OpenZeppelin, Quantstamp, and Certora.

Sonic Labs has gone further with the global developer community in introducing a $2 million bug bounty program on the ImmuneFi platform to strengthen its security framework.

Sonic Mainnet Goes Live with Incentives for Developers

The Sonic Gateway also provides a seamless one-to-one upgrade path for users coming from FTM onto the native S token on Sonic, allowing existing holders to start using the Sonic ecosystem immediately.

This announcement comes on the heels of the recent mainnet launch of Sonic, a high-performance blockchain also from the same team as Fantom. Sonic‘s mainnet offers developers solid infrastructure and competitive incentives for building decentralized applications.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Ethereum

EURC

FTM

Sonic

Sonic Chain

Sonic Gateway

Sonic Labs

USDC

WETH

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.