Sonic SVM has announced the launch of its native token $SONIC, a groundbreaking development in the blockchain space. $SONIC token will operate as the strong pillar of the whole ecosystem of Sonic SVM and will enhance the functionality of its applications and gaming experiences. It will further power the upcoming launch of multi-SVM that is built with the groundbreaking framework of Sonic HyperGrid.
$SONIC serves as a key player in the foundation of Web3 applications, focusing on gaming and decentralized social media platforms. This promising token is poised to transform the user’s interaction with blockchain technology in the rapidly growing ecosystem of Solana. Sonic SVM, a scalable blockchain framework, has announced the token’s launch via its official X account.
The Impact of Sonic SVM on Gaming and Web3
The first SVM chain to launch on Solana is Sonic SVM which is packed with all new features that can make the gaming industry disrupt. The HyperGrid framework of Sonic can create the rollups for Solana and permit faster, scalable ecosystem transactions.
SonicX is the heart of this ecosystem which is first app layer of Web3 TikTok. It allows billions of users to onboard to the world of dApps. Users, while leveraging SonicX, will have an access to a seamless platform. This platform will be useful for the consumption, creation, and interaction of the content in a decentralized way. $SONIC is the key player of this experience.
The Distribution and Use Cases of $SONIC
$SONIC token have a distribution plan of over six-years, with a total 2.4 billion supply. Sonic SVM community will have access to the 57% of supply. Token’s reservation will be included in the distribution for the growth of ecosystem and community engagement. Further, it will include the rewards within the system of Sonic HyperGrid system.
In short, ecosystem and community will be granted 30%, 20% for Sonic HyperGrid rewards, and 7% for initial claim. The token of Sonic SVM will play a crucial role in the governance and staking for the ecosystem, also a means of exchange for all the users. The security and functionality of HyperGrid Shared State Network (HSSN) will be enhanced by this launch.
The token generation event (TGE) is scheduled for 7th of January, 2025, leaving an excitement for the community and users. For the initial claim, users will get a chance to verify their eligibility. It will be done through an eligibility checker that will be launched on 3rd of January.
The snapshot of the token airdrop is completed and 7% of the supply is granted to the claim. However, users still have an opportunity to claim and qualify for the airdrop. This can be done through TikTok, logging into SonicX, before 6th of January. For Sonic SVM ecosystem, this is an exciting new chapter, users are eagerly waiting for the full potential of the token. This token aims to shape the future of Solana in gaming, DeFi, and Web3.
