Sonic, formerly known as Fantom, has returned to the DeFi market with new opportunities and innovations. The rebranding was necessary to adapt to the rapidly changing cryptocurrency landscape.
What is Sonic ($S)
Sonic is a dedicated cryptocurrency, representing a new chain with EVM compatibility. Launched on January 7, it has since attracted significant attention in the DeFi community. Founder Andre Cronje, who previously held important positions in Fantom, is now the Chief Technical Officer of Sonic. In this new ecosystem, 90% of transaction fees are returned to developers, which fosters their motivation and reduces financial pressure.
The Tokenomics of $S
$S is the primary asset in the Sonic ecosystem, replacing Fantom's $FTM token. Users do not need to take additional actions if they hold their tokens on centralized exchanges, as the exchange occurs automatically. The $S token can be used for transaction fee payments, staking, and governance participation. The total number of tokens is 3.175 billion, with no max limit, and there is a planned annual minting of 1.5% for six years.
Upcoming Events and Sonic's Future
Sonic continues to evolve, offering participants various airdrops and opportunities to earn points and gems. A Sonic Summit is also scheduled from May 6 to 8, 2025, in Vienna, where users can participate in diverse events. Despite recent changes, Sonic demonstrates steady growth and is considered an important player in the DeFi market.
Sonic has shown its readiness for innovation and adaptation in the face of changes in DeFi. Its unique offerings for developers and users highlight its significance in the market.
