Sonic, a layer-2 network built for gaming and applications using the Solana Virtual Machine (SVM), is expected to release its native token, SONIC, on January 7, 2025. This important step is part of Sonic's roadmap that aims to boost the gaming-based blockchain ecosystem and increase scalability.
What are the Token distribution plans?
The Sonic team recently revealed the Token Generation Event (TGE) details for the SONIC token. With a total supply limited to 2.4 billion tokens, a substantial 57% is designated for community initiatives, including ecosystem development, initial applications, and rewards within the Sonic HyperGrid.
How will the Token be used?
The SONIC token is expected to be a vital part of the Solana L2 network, acting as a payment method for Sonic SVM applications, enabling pledge rewards, and enabling community management. Testers in the Sonic HyperGrid must apply SONIC tokens, with rewards available for adding agents, encouraging both participation and network stability.
Key highlights of the SONIC token launch include:
- The total supply is capped at 2.4 billion tokens.
- 57% of marks are allocated for community development.
- 15% of the total supply circulates at TGE.
- It will be a payment system and a management tool within the ecosystem.
The introduction of the SONIC token marks a major development in the Layer-2 blockchain space, with plans for the HyperGrid Shared Sequencing Network and Sonic SVM Genesis. The subsequent phase aims to implement mainnet alpha and enable mobile applications by 2025. Market forecasts for Solana indicate a possible price increase to $400, fueled by a strong ecosystem and higher adoption.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies have high volatility and therefore risk, and should do their own research.
Source: https://en.bitcoinhaber.net/sonic-token-launches-on-january-7-2025
