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

Circle Releases Technical Guidance for ERC20 Transfers Using CCTP

Circle has published a developer guide detailing how issuers can utilize its CrossChain Transfer Protocol (CCTP) for ERC20 assets beyond USDC.

user avatarAyman Ben Youssef

Curve Finance Launches StableSwap on Stellar Mainnet

Curve Finance has launched its StableSwap system on the Stellar mainnet, marking its first native deployment outside the Ethereum ecosystem.

user avatarTando Nkube

Ondo Finance Introduces Tokenized Investment Portfolios on Solana

Ondo Finance has launched seven investment portfolio tokens on the Solana blockchain for eligible investors outside the US, providing managed exposure to tokenized equities and ETFs.

user avatarKofi Adjeman

Market Implications of Aave's Tokenized Equity Lending Explored

A case study on the market implications of borrowing against tokenized equities following the launch of Aave's V4s Equities Hub, highlighting market liquidity and associated risks.

user avatarNguyen Van Long

Aave Launches V4s Equities Hub for Non-US Investors

Aave has launched its V4s Equities Hub, allowing eligible non-US investors to borrow USDC against selected tokenized US equities.

user avatarSatoshi Nakamura

Polygon Labs Launches New Payment Controls for AI-Agent Transactions

Polygon Labs has launched new payment controls for AI-agent transactions, allowing automated agents to make purchases within defined parameters while managing associated risks.

user avatarRajesh Kumar

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.