Sonic's Milestone of 100,000 Wallets is a Key Step Toward Mainnet Launch
Dubai, UAE, June 30th, 2024, Chainwire
Sonic The inaugural atomic SVM chain designed for diverse gaming economies on the Solana blockchain, Sonic, has reached a notable benchmark with its newly launched incentivized testnet called 'Odyssey.' It has successfully connected 100,000 wallets and processed over 17 million transactions as it prepares for its mainnet launch.
Backed by Cypher Capital Sonic has recently secured funding from a multi-strategy crypto investment firm, which expands its ecosystem ahead of the mainnet launch. This support will enhance Sonic's core team involved in development, game partnerships, and global marketing efforts. The active testnet currently invites participants to engage in various on-chain activities including executing transactions and testing new games on Sonic.
Chris Zhu, the Founder of Sonic, stated, \"Cypher Capital has been instrumental in helping us broaden our ecosystem into new regions. Their extensive community network and essential connections to significant funds make them a key player in bringing gaming to the Solana platform.\"
As the sole Solana Virtual Machine gaming chain, Cypher is backing Sonic's market entry strategy. Utilizing a unique horizontal scaling system known as HyperGrid, which acts as a rollup foundation on Solana, Sonic empowers game developers to create their own blockchain rollups, offering tailored solutions for crafting independent game economies.
Investment Lead at Cypher Capital, Harsh Agarwal, expressed enthusiasm for supporting Sonic in the development of the first SVM Layer 2 Gaming Chain aimed at enhancing the Solana Gaming Ecosystem. He noted, \"Chris brings a wealth of knowledge and vision as a founder, and we are confident in his ability to foster gaming economies on Solana.\"
About Sonic
Sonic stands out as the very first atomic SVM chain designed to enable independent game economies on the Solana platform. It facilitates game economies that aggregate and finalize transactions on Solana. Built atop Solana's pioneering concurrent scaling framework—HyperGrid—Sonic is the first to orchestrate a Grid within this innovative framework.
About Cypher Capital
Cypher Capital is a premier venture firm focused on early-stage investments targeting Web3 infrastructure and applications that promise to propel the digital economy forward. Every investment decision made by Cypher is guided by principles of environmental, social, and governance sustainability, as they shape the future landscape of digital currencies, public markets, and Web3.
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