Sonic VM Ready to List SONIC Tokens on January 7

Bittime - Sonic VM announced that they will list SONIC tokens on December 31, 2024, yesterday. They plan to launch the SONIC token on January 7, 2025. 

With this launch, users are expected to be able to enjoy various investment opportunities and benefits in the Sonic ecosystem. This listing will not only open the door to new investors but also be an important milestone in the development of Solana-based blockchain technology.

Sonic VM Announces SONIC Token Listing

Sonic VM officially announced that SONIC tokens will be available through various centralized exchange (CEX) platforms as well as Solana-based DEXs. Further information regarding specific platforms will be announced via their official social media channels. 

Users are also encouraged to check the eligibility of their wallets on January 3, 2025, via the eligibility check tool provided. On the day of this token launch, and thereafter, eligible users can claim and stake their SONIC tokens.

Read also: Nodepay Listing and NC Token Launch Postponed to January 14 2025

What is Sonic VM?

Sonic VM is an innovative ecosystem built on Solana Virtual Machine (SVM), mainly focused on developing gaming applications and dApps. 

By leveraging the speed and efficiency of Solana, Sonic VM aims to create a platform that is not only fast, but also safe and secure for developers and users. 

In this context, SONIC tokens act as the main fuel that supports various functions in the Sonic ecosystem.

SONIC Token Utility

The SONIC token is not just a transaction tool; it has a very strategic multifunctional purpose. Some of the utilities of the SONIC token include:

• Payment Currency: Used to purchase in-game assets found in the Sonic ecosystem.

• Staking: Gives users the opportunity to contribute to network security while earning rewards.

• Governance: Give token holders a voice in decision-making within the community, both through SONIC nor VeSONIC.

• Validator Delegation: Contribute to strengthening the HyperGrid Shared State Network (HSSN) network.

Read also: Can Ethereum Reach a New High Price (ATH) in 2025?

SONIC Token Tokenomics

Source: X (@SonicSVM)

To be known, tThe total supply of SONIC tokens is 2.4 billion SONIC. The token distribution structure is designed to ensure long-term growth of the ecosystem, community engagement, and network security. 

In the early stages, only 15% of the total supply will be in circulation, encouraging early participation and incentives for key participants in this ecosystem. Following are the details of SONIC token distribution:

• 30% for Ecosystem & Community: Dedicated to ecosystem development that includes grants for game studios and dApp developers.

• 7% for Initial Claims: Allocated for exclusive airdrops for top contributors.

• 20% on Sonic HyperGrid Rewards: Dedicated to validators and observation nodes.

• 8% for Early Backers: Awarded to individuals who support a project in its early stages.

• 15% for Investors: Allocated to investors who support the project during its initial phase.

• 20% for Foundation: Includes the team, advisors, and other important members of the project.

Read also: Market Cap Stellar (XLM) Begins to Approach Shiba Inu (SHIB)

FAQ About Sonic VM

What is Sonic SVM (SONIC) Token?

The SONIC token is a token that supports the Sonic SVM ecosystem, focused on gaming and applications built on Solana. Designed to drive long-term growth and network security.

What is the function of tokens SONIC in the Sonic ecosystem?

Token SONIC is used for a variety of functions, including in-app payments, rewards for staking, and participation in community decision-making.

When is the Token Generation Event (TGE) event for  SONIC scheduled?

TGE event for SONIC scheduled for January 7, 2025. Users can check their eligibility for an initial claim through a tool launched on January 3.

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Reference 

Sonic, Announcing $SONIC: the Native Token to Power Sonic and the Multi-SVM Ecosystem, accessed January 7, 2025.

X, Akun X Sonic SVM, accessed January 7, 2025.

Author: Y