What is Sonic SVM (SONIC) Token: Its Tokenomics, Functionality, and Roadmap

Bittime - Sonic Token (SONIC) is a digital asset that supports the long-term growth and vision of Sonic SVM, an extension of the Solana Virtual Machine (SVM) focused on games and applications.

With the launch of the Sonic SVM mainnet fast approaching, Sonic Foundation is introducing SONIC as part of the Multi-SVM ecosystem powered by Sonic HyperGrid. Sonic SVM aims to provide a better on-chain gaming experience with high performance, cost efficiency, and near-instant state synchronization.

Sonic SVM is also home to SonicX, a Web3 platform that enables the onboarding of billions of Web2 users into the Solana and Web3 ecosystems.

With over 10 major games already launched, Sonic SVM is committed to creating an environment that supports user growth and monetization through innovative integrations.

Also read: What is Solaxy (SOLX)?

Sonic SVM Tokenomics

Sonic Token has a total supply of 2,400,000,000,000 SONICs, with allocations designed to ensure long-term ecosystem growth and community engagement.

A total of 15% of the total supply will be circulated at the Token Generation Event (TGE), which aims to drive early adoption. Additionally, 57% of SONIC will be allocated to the community, including grants for game developers and studios that contribute to the ecosystem.

The token allocation also includes 20% for Sonic HyperGrid rewards, which will go to validators and node operators to keep the network secure. With a transparent and community-oriented tokenomics structure, Sonic Token aims to create strong incentives for stakeholders to participate in the ecosystem.

Sonic Token Functions

Sonic Token has several important functions within the Sonic SVM ecosystem. First, SONIC serves as a utility token used in various apps and games built on the platform.

Users can use SONIC to make payments, access goods and services, and participate in staking for rewards.

In addition, SONIC also plays a role in community governance. Token holders can use SONIC or $VeSONIC to vote in important decisions that affect the ecosystem. As such, Sonic Token serves not only as a transaction tool, but also as a means to encourage community engagement and participation.

Also read: What is Xenea?

Sonic SVM Roadmap

The Sonic SVM roadmap is divided into several important phases. The first phase, known as Network Genesis, is scheduled to take place from Q4 2024 to Q1 2025. In this phase, Sonic HyperGrid will be launched, enabling interoperability between SVM networks. Additionally, a TGE event for SONIC will be held, unlocking the full potential of the ecosystem.

The second phase, Mainnet Alpha Launch, will begin in Q1 2025, with the official deployment of Sonic SVM Mainnet-Alpha. This phase will include the launch of SonicX applications and the integration of various services such as DEX and Oracles.

The third phase, Ecosystem Expansion, is scheduled for Q2 2025, with a focus on increasing scalability and the introduction of a staking program for SONIC.

With a clear and structured roadmap, Sonic Token is committed to building an innovative and sustainable blockchain ecosystem. The launch of SONIC marks an important step in creating a platform that supports growth and mass adoption in a Web3 world.

FAQ

What is Sonic Token (SONIC)?

Sonic Token (SONIC) is a digital asset that powers the Sonic SVM ecosystem, an extension of the Solana Virtual Machine (SVM) focused on games and applications. The token is designed to foster long-term growth, community engagement, and network security.

What are the main functions of Sonic Token?

Sonic Token has several functions, including as a utility token for in-app and game payments, as a staking tool that provides rewards, and as a means to participate in community governance through voting.

What is the tokenomics structure of Sonic Token?

Sonic Token has a total supply of 2,400,000,000 SONICs, with allocations that include 15% to TGE, 57% to the community, 20% to Sonic HyperGrid rewards, and allocations to early backers, investors, and foundations. This structure is designed to ensure the continued growth of the ecosystem.

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Reference

blog.sonic.game, Announcing $SONIC: the Native Token to Power Sonic and the Multi-SVM Ecosystem, accessed on January 6, 2025.

Author: AWW