On August 21st, according to the SonicLabs (formerly Fantom) team blog, Sonic Labs has launched a new bounty program called "Sonic Boom", which aims to advance the development of the Sonic network by facilitating the development of key applications in areas such as exchanges, lending, instruments, payments, stablecoins, earnings, gaming, and NFTs. The program, which runs for nearly 13 weeks, will end on November 4th and awards up to 30 winning projects based on carefully formulated criteria, with SonicGems as a reward. Sonic Gems are points through which users can participate in future airdrops. Sonic is a new technology stack in the Fantom blockchain ecosystem and is expected to process more than 2,000 transactions per second, with an average final confirmation time of one second.