Solana-based Layer-2 community Sonic SVM has formally launched its native token, $SONIC, on Tuesday.
The token technology occasion occurred on January 7, 2025, at 12:00 PM UTC, enabling $SONIC to begin buying and selling on varied cryptocurrency exchanges.
This launch is especially noteworthy for gamers of SonicX, a TikTok-based tap-to-earn recreation developed by Sonic SVM, who’re set to obtain airdropped tokens as rewards for his or her in-app progress.
What’s Sonic SVM?
Sonic SVM is the primary Solana Digital Machine (SVM) community extension constructed on Solana, specializing in gaming and purposes.
It makes use of the Sonic HyperGrid framework to orchestrate optimistic Solana rollups, enhancing scalability and efficiency for decentralised gaming ecosystems.
By integrating with platforms like TikTok by means of purposes resembling SonicX, Sonic SVM goals to seamlessly onboard web2 customers into the Solana and web3 ecosystem, offering a bridge between conventional social media platforms and blockchain-based gaming.
$SONIC Token Launch and Airdrop Particulars
The $SONIC token serves because the spine of Sonic SVM’s ecosystem, facilitating staking, funds, and governance throughout the platform.
The full provide of $SONIC is capped at 2.4 billion tokens, with 57% allotted to the group. As a part of the launch, 7% of the whole provide has been designated for an preliminary airdrop to early supporters, together with SonicX gamers, node operators, and particular NFT holders. Eligible individuals have two choices for claiming their tokens:
Partial Declare with Vesting: Declare 60% of the allocation instantly, with the remaining 40% vested over six months, incomes a 140% bonus on the vested quantity.Full Declare: Declare 100% of the allocation upfront, with none further bonuses.
The airdrop declare course of has been out there since January 3 and with the token technology occasion accomplished, $SONIC tokens are actually tradable on a number of exchanges resembling KuCoin, BitGet, BingX and extra.
The token has skilled important volatility since its launch, with a 55% improve within the final 24 hours and a buying and selling quantity surge to $2.4 billion. On the time of writing, the $SONIC token is buying and selling at roughly $0.85 USD in line with information from CoinGecko.
