The latest issues with Solana (SOL) meme tokens have pushed traders to explore other chains. Sonic has emerged as a new chain, boosting its DEX activity.
The Rise of Sonic
Sonic, formerly known as Fantom (FTM), has rebranded itself with a new name and ticker, S. It has significantly increased its activity in recent weeks due to user migration. Its DEX activity has grown by over 84% in the last week alone.
Ecosystem and DEX Activity
Shadow DEX has been the main driver of Sonic adoption, increasing its volumes tenfold. The pairs on Shadow DEX have surged upwards, impressing the market with its growth and interest in Sonic. Sonic also observes a high influx of users due to its low fees and appealing on-chain activities.
Sonic's New Tokenomics
Sonic is preparing for new changes in tokenomics. The new S token will launch with 3.175B as the initial supply, which will then increase by 6% annually. Additionally, 190.5M tokens will be distributed through the current airdrop. These changes aim to further expand the Sonic ecosystem.
Sonic sets ambitious goals for development and implementation of new solutions, representing an intriguing opportunity for traders and enthusiasts.
