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CoinGape 2024-12-31 16:37:10

Solana L2 Sonic Unveils Plans For SONIC Token Launch: Here’s All

Solana L2 Sonic Unveils Plans For SONIC Token Launch: Here’s All

Sonic, the Solana Virtual Machine (SVM) layer-2 chain for games and applications, is set to launch its native token, SONIC, on January 7, 2025. This development is a key milestone in Solana L2 Sonic’s roadmap, designed to power its gaming-focused blockchain ecosystem and enhance scalability across its infrastructure. Solana L2 Sonic to Launch Native Token SONIC on January 7 According to a recent blog post, Sonic has outlined plans for the Token Generation Event (TGE) of its SONIC token, which will mark the next phase of its development. The total supply of the token is capped at 2.4 billion, with 57% allocated to the community. This allocation includes tokens reserved for ecosystem development, initial claims, and rewards within the Sonic HyperGrid framework. Moreover, the TGE will see 15% of the total supply enter circulation to drive early adoption. The team has confirmed that SONIC will be listed on both centralized and Solana-based decentralized exchanges, with further details to be revealed via social media. The Solana L2 native token distribution emphasizes community involvement, with 7% tokens earmarked for an airdrop to early supporters. Eligibility for the airdrop was determined through a snapshot taken on December 31, 2024. Participants can still qualify by engaging with SonicX on TikTok before January 6, 2025. Starting January 3, the community can use an eligibility checker to verify their claims for the airdrop. The initiative will reward contributors who supported Solana L2 Sonic during its early stages, including delegators, node holders, and participants. Token Utility and Ecosystem Integration The SONIC token will play a central role in Solana L2 ecosystem, offering utility in several areas. It will function as a payment currency within Sonic SVM applications, support staking rewards, and enable community governance. Users can stake tokens to enhance network security and participate in decision-making processes within the ecosystem. Validators in the Sonic HyperGrid network are required to stake SONIC tokens, and delegators contributing to the staking pool will earn rewards. This framework aims to incentivize active participation while ensuring stability and decentralization across the network. The launch of Solana L2 SONIC token represents Phase 1 of the Layer-2 blockchain. It includes the activation of its HyperGrid Shared Sequencer Network and Sonic SVM Genesis. Phase 2 will see the deployment of the mainnet alpha, the introduction of bridges, and the launch of Sonic X apps for Android and iOS by early 2025. Further expansions are planned for mid-2025, including advanced scaling solutions and updated staking mechanisms. In addition, Solana price forecast for 2025 reflects optimistic market sentiment, driven by its robust ecosystem and growing adoption. Analysts predict SOL price could target $400, supported by its previous upward trajectory from $84 to $263.83 in 2024. The post Solana L2 Sonic Unveils Plans For SONIC Token Launch: Here’s All appeared first on CoinGape .

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