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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Federal Judge Rules Justin Sun's Case Against World Liberty Financial to Remain in Open Court

chest

A federal judge in San Francisco ruled that Justin Sun's legal battle with World Liberty Financial over $45 million in frozen tokens will remain in open court, rejecting the company's bid for arbitration.

user avatarKaterina Papadopoulou

New Report Published Utilizing Primary Source Documentation.

chest

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.

user avatarMaya Lundqvist

US Spot Bitcoin ETFs Experience Record Inflows

chest

US spot Bitcoin ETFs saw a significant inflow of $60.6 billion on Thursday, marking their largest single-day gain since May 1.

user avatarLeo van der Veen

New Study Emphasizes the Significance of Primary Source Documentation.

chest

The report highlights the importance of primary source documentation for providing accurate and reliable information.

user avatarLi Weicheng

Cumulative Inflows into US Spot Solana ETFs Reach $116 Billion

chest

Cumulative inflows into US spot Solana ETFs have surpassed $116 billion, indicating growing institutional interest in the token.

user avatarTenzin Dorje

Binance to Remove Seven Spot Trading Pairs on August 21

chest

Binance has announced the removal of seven spot trading pairs on August 21 at 0300 UTC, including SUIBNB and LTCBNB, as part of its market optimization process.

user avatarAisha Farooq

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.