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

Criminals Use AI-Powered Tools for Cyber Attacks in India

Criminals are using AI-powered tools to conduct financially motivated cyber attacks against entities in India.

user avatarAisha Farooq

MEXC Enhances Security Measures and Capital Reserves

MEXC enhances its security framework and capital reserves by adding 1,000 BTC to its Futures Insurance Fund, aiming to protect user assets and provide a risk buffer during extreme market conditions.

user avatarTenzin Dorje

MEXC Unveils AI Trading Report with Key Insights from Crypto Traders

MEXC has released an AI Trading Report based on a survey of 3,708 crypto traders, highlighting the use of AI in trading strategies and user preferences for control and risk management.

user avatarBayarjavkhlan Ganbaatar

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

Zcash Faces 11% Decline Amid Growing Market Concerns

Zcash has experienced an 11% decline in the past 24 hours, raising concerns about market stability and the impact of AI on cryptography.

user avatarElias Mukuru

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

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.