Sonic to Launch Token on Solana by January 2025

user avatar

by Giorgi Kostiuk

2 years ago

Sonic, a layer-2 network built for gaming on the Solana Virtual Machine (SVM), is set to launch its native token, SONIC, on January 7, 2025, marking a significant step towards boosting the blockchain ecosystem focused on gaming and enhancing scalability.

Token Distribution Plans

The Sonic team recently revealed details of the Token Generation Event (TGE) for the SONIC token. With a total supply limited to 2.4 billion tokens, a significant 57% is allocated for community initiatives, including ecosystem development, initial claims, and rewards within the Sonic HyperGrid.

SONIC Token Utilization

The SONIC token will be a vital component of the Solana L2 network, serving as a payment method for Sonic SVM applications, facilitating staking rewards, and enabling community governance. Validators in the Sonic HyperGrid will need to stake SONIC tokens, with rewards available for contributing delegates, promoting both participation and network stability.

Market Impact and Future Development

The introduction of the SONIC token marks an important development in the Layer-2 blockchain space, with plans for a HyperGrid Shared Sequencer Network and Sonic SVM Genesis. The subsequent phase aims to implement the mainnet alpha and facilitate mobile applications by 2025. Market predictions for Solana suggest a potential price rise to $400, driven by the robust ecosystem and increased adoption.

The launch of the SONIC token represents a significant milestone for Sonic and Solana, likely impacting the market through innovations in gaming and scalability.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Optimism Releases Required Batcher Update v1170

Optimism has announced the release of opbatcher v1170, which is mandatory for operators using the batching infrastructure for OP Stack chains.

user avatarAndrew Smith

NEAR Developers Release First Candidate for nearcore 2140

The NEAR developers have published the first release candidate for nearcore 2140, introducing significant protocol and database changes.

user avatarJacob Williams

Lido Completes Winddown of Regular Simple DVT Clusters

Lido has successfully completed the winddown of its regular Simple DVT clusters, marking a significant step in the decentralization of its validator operations.

user avatarZainab Kamara

Avalanche Schedules Helicon Network Upgrade for September 22

Avalanche has announced the Helicon network upgrade for its mainnet, set to activate on September 22 at 1500 UTC.

user avatarSon Min-ho

Uniswap Proposes Protocol Fee Rollout to Circles Arc Blockchain

Uniswap Labs has introduced a proposal to extend its protocol fee collection and UNI burn infrastructure to the Arc blockchain.

user avatarAyman Ben Youssef

Aave V4 Now Live on Circle's Arc Blockchain

Aave V4 has officially launched on Circle's newly established Arc blockchain, featuring key assets such as USDC, EURC, cirBTC, and WETH.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.