Sophon has launched its mainnet, introducing the first-ever Validium to the Avail network. It has over $500 million in total value locked (TVL) through the Sophon farming program and a growing ecosystem of established partners.
Sophon said it is paving the way for scalable, consumer-focused blockchain applications. The launch comes with significant community support: over 120,000 node licenses purchased by over 5,800 unique participants are now open for claim.
The SOPH token is rolling out today in a non-transferable state, with all transactions free for users during this initial phase. Node holders will begin earning rewards starting January 1, with full token transferability and exchange expected in Q1 2025.
What it means
Asked for more details and a translation of the jargon, the company said Sophon is a platform on which developers can build the next generation of consumer applications. Technically, it is a blockchain that leverages Validium technology, which means that transaction data is processed from the main Ethereum blockchain while maintaining security.
This allows for higher speeds and lower costs compared to traditional blockchains. Sophon is the first project to implement this using Avail’s Data Availability Network. Simply put, this technology stack makes Sophon a platform optimized for high-throughput consumer applications. This is important because it means Sophon can handle many more transactions (like game moves, social media interactions, ticket purchases, etc.) at much lower costs than traditional blockchain platforms.
The total value locked of $500 million represents the digital assets that users deposited into Sophon’s initial rewards program. Participants can earn Sophon Points by providing liquidity, which will be convertible into SOPH tokens when they launch in Q1 2025. This large amount of deposits indicates significant trust in the platform, similar to a new bank attracting $500 million in deposits would be considered a strong sign of customer confidence.
In April 2024, Sophon sold what are essentially “operating licenses” of parts of its network – in the same way that taxi medallions give drivers the right to operate taxis. 5,800 different buyers purchased 120,000 of these licenses (called nodes) for a total of $60 million. These node operators will help manage Sophon’s digital infrastructure. As compensation for their service, they will earn two types of rewards: a share of the network’s transaction fees (like how credit card companies earn a small commission on purchases), plus 20% of all SOPH tokens ( the native token of Sophon) that will ever be created.
Sophon has created its token (SOPH), but it is currently in a controlled launch phase, meaning users cannot transfer or trade it. The entire supply is controlled by Sophon. During this phase, Sophon covers all transaction fees for users. Starting in the first quarter of 2025, SOPH tokens will become freely transferable and tradable (like any other digital currency), and node operators will start earning their rewards. This progressive approach ensures a stable launch of the platform.
Launch Partners Drive Adoption
Sophon’s consumer-first approach focuses on delivering user experiences that encourage mainstream crypto engagement.
The company’s launch partners include industry leaders selected for their ability to bring the benefits of blockchain to everyday users. They include:
Mirai: a mobile game studio whose game Petopia introduces crypto to casual mobile gamers through familiar gameplay. Already number 1 in casual gaming on the iOS and Android stores with more than 100,000 players in the alpha phase and a rating of 4.8/5, Petopia demonstrates how blockchain games can attract traditional players. When these players make in-game purchases or trade items, each transaction generates network fees that are returned to node holders and stakeholders. Mirai Labs has already onboarded 27 million new wallets to crypto via its Pegaxy game (on the Polygon network).
OPEN: Bringing mainstream event goers to crypto with digital tickets. Having processed over 7 million NFT tickets for concerts and sporting events, OPEN is introducing blockchain technology to people who may have never used crypto before. Every ticket sold and resold creates transaction volume on Sophon, the U.S. ticketing market representing more than $12 billion in potential annual business – all generating fees that reward network participants.
Rivalry: Integrating Sports Fans into Crypto Through Betting. Their two million active users, who place over $1 billion in annual bets, will seamlessly interact with blockchain technology through Sophon when placing bets and collecting winnings. Every bet and payment represents economic activity that benefits node holders and stakeholders through network fees.
NooN: Making crypto accessible to traditional savers by offering familiar savings account features backed by blockchain technology. By working with institutions managing $500 million in assets, NooN will help bring users from traditional finance to crypto. User deposits, withdrawals, and yield distributions all generate network activity that rewards Sophon’s infrastructure providers.
Aethir: Introduce cloud computing users to decentralized alternatives through their GPU marketplace. Having processed over 100,000 GPU hours in testnet, they are bringing Web2 developers and AI researchers to cryptography. Each calculation check creates a fee-generating activity that is transmitted to participants in the Sophon network.
Together, these partners represent a gateway for millions of traditional internet users to access crypto through familiar applications, while generating billions in potential annual transaction volumes on Sophon (the platform on which these applications operate). ‘execute). This economic activity directly rewards node holders and stakeholders through network fees and increased platform usage. Rather than requiring users to understand blockchain technology, these apps make using crypto as easy as playing a game, buying a concert ticket, or placing a sports bet – while ensuring that those who maintain the network share its success.
Other gaming partners include Brutal Knights (50,000 pre-registered users) and Gamp (funded by $3 million), both focused on introducing mainstream gamers to crypto through engaging gameplay. Many more to come
Pioneering consumer-focused crypto
Sophon recognizes that mainstream users don’t care about blockchain technology – they care about experiences and value. By focusing on entertainment applications that naturally benefit from blockchain’s capabilities, Sophon is creating an ecosystem where the technology enhances rather than complicates the user experience.
This vision is reinforced by strategic collaborations with industry pioneers, such as Beam, which is launching the first gaming-focused fund and accelerator in Abu Dhabi with a target size of $150 million.
Sophon is a strategic partner of this accelerator, supporting the advancement of blockchain-based games. Additionally, Sophon launched the $40 million Tactical Compute initiative (with Aethir), targeting projects built at the intersection of crypto and AI. These partnerships ensure that Sophon does not just build infrastructure, but contributes to the growth of the entire ecosystem.
Take big steps
Sophon’s mainnet launch is the first-ever Validium using Avail’s external data availability layer, bringing unparalleled scalability, security and cost savings. Using Avail’s modular application development stack to create its own lightweight nodes, Sophon ensures high performance, maintaining full decentralization and data availability, setting a new standard for modular blockchain designs.
“Sophon leverages the full potential of the Avail network, illustrating how blockchains can maintain proven decentralization even in high-volume use cases like entertainment,” said Anurag Arjun, co-founder of Avail, in a statement.
This modular architecture not only sets a new standard for blockchain design, but also makes Sophon ideal for high-throughput applications seeking mainstream adoption.
“We are building the future of chain entertainment,” Sebastien, CEO of Sophon, said in a statement. “Our integration with Avail allows us to deliver the scalability and performance demanded by consumer applications, while maintaining the security and decentralization promised by blockchain technology.”
Sophon wants to be the ultimate platform for next-generation entertainment applications, ranging from games to AI-driven experiences.
The Avail Network is a modular application development stack designed to establish blockchains as a verification system for the Internet.
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