Solana's first SVM (Solana Virtual Machine) Layer2, Sonic, has recently released its token economics and will be launching its TGE (Token Generation Event) on January 7th, when Airdrop and listings on major exchanges will take place.
Sonic SVM Airdrop Query Goes Live
Today, the Sonic Airdrop checker has officially gone live, allowing users to check their $SONIC token allocation after connecting their wallets. The claims will open on January 7th and last for about 35 days.
The official previously stated that the initial Airdrop snapshot was completed on December 31st, 2024, and 7% of the total $SONIC supply will be used for the initial Airdrop. Although the snapshot date has passed, it's worth noting that the official has stated that there is still a chance to receive $SONIC Airdrop: as long as you log in to SonicX through TikTok before January 6th, you will be eligible for the $SONIC Airdrop, as detailed in the official announcement.
$SONIC Token Economics
In terms of token economics, the official stated that the total supply of $SONIC is 2.4 billion, with an initial circulating supply of 15%. 57% of the total supply will be allocated to the community, including the ecosystem and community, initial Airdrop, and Sonic HyperGrid rewards. The allocation details are as follows:
- 30% for ecosystem and community
- 7% for initial Airdrop
- 20% for Sonic HyperGrid rewards
- 20% for the foundation
- 8% for early supporters
- 15% for investors
$SONIC will be released over 6 years, after which all $SONIC will be fully circulating. In the first 12-18 months after the token launch, no team or investor tokens will be unlocked, and the locked tokens cannot be staked.
The official stated that $SONIC has multiple utilities:
- Medium of exchange: Used to purchase in-game assets on the Sonic SVM.
- Staking: Support the network operation and earn rewards.
- Governance: Participate in decision-making using $SONIC or $VeSONIC.
- Node delegation: Strengthen the HyperGrid Shared State Network (HSSN).
$SONIC Lists on OKX, Bybit and More
As a flagship project, multiple exchanges have announced that they will list $Sonic on January 7th at 8:00 PM, including OKX, Bitget, and Bybit.
What is Sonic SVM?
Sonic is the first SVM (Solana Virtual Machine) chain launched on Solana, focusing on game and application development. It is built on the Sonic HyperGrid, a framework for coordinating Solana optimistic Rollups. Sonic also launched SonicX, the industry's first Web3 TikTok application layer, aimed at attracting the next generation of users. The $SONIC token will be used to support the Sonic SVM and its applications, as well as other SVMs launched using the HyperGrid framework.
Team Background: Sonic is developed by Mirror World Labs, a company focused on Solana gaming infrastructure. The co-founders of Mirror World Labs, Chris Zhu, have previous experience working at companies like ByteDance and RCT AI, accumulating extensive technical and management expertise. The team is committed to driving the development of the Solana gaming ecosystem through technological innovation.
Funding Status: In June 2024, Sonic announced the completion of a $12 million Series A funding round, led by Bitkraft, with participation from Galaxy Interactive, Big Brain Holdings, Solana co-founder Matt Sorg, and Nom from Bonk. In 2022, they also completed a $4 million seed round.
Technical Features: Sonic is the first SVM Layer 2 to achieve atomic interoperability with the Solana mainnet, allowing its Layer 2 network to quickly synchronize with the mainnet state. Developers can share the same contracts, state, and data without redeploying. Sonic also integrates infrastructure tailored for Solana game development and deployment, such as a sandbox environment, customizable game development modules, and scalable data types. Combining the parallel execution capabilities of SVM and the localized transaction fee market, Sonic provides faster transaction speeds and more stable and lower transaction fees for on-chain game players.
Development Vision: Sonic is committed to attracting more developers to the Solana gaming ecosystem, offering incubation funds and acceleration programs to help them familiarize with Sonic SVM and the HyperGrid scaling framework. HyperGrid aims to enable developers to seamlessly deploy new game engines and virtual machines in the Solana environment, creating independent spaces for each new game on the Solana network. Sonic's goal is to use technological innovation to address the performance bottlenecks and value capture issues in the Solana gaming ecosystem, driving more game projects to succeed on Solana.
Overall, the launch of Sonic marks an important milestone in the Solana ecosystem's gaming domain. By providing a high-performance, customizable Layer 2 solution, Sonic brings new opportunities and experiences for game developers and players.
