Solana-based Layer 2 Network <a target="_blank" href="https://x.com/sonicsvm” target=”_blank” rel=”noopener”>sonic svm officially launched its native token, $SONIC, on Tuesday.
The token generation event occurred on January 7, 2025 at 12:00 pm UTC, allowing $SONIC to begin trading on various cryptocurrency exchanges.
This launch is particularly notable for players of SonicX, a TikTok-based tap-to-earn game developed by Sonic SVM, who will receive airdropped tokens as a reward for their progress in the app.
Source: SonicSVMWhat is Sonic SVM?
Sonic SVM is the first Solana Virtual Machine (SVM) networking extension built on Solana and focused on games and applications.
It uses the Sonic HyperGrid framework to orchestrate optimistic Solana rollups, improving the scalability and performance of decentralized gaming ecosystems.
By integrating with platforms like TikTok through apps like SonicX, Sonic SVM aims to seamlessly bring web2 users into the Solana and web3 ecosystem, providing a bridge between traditional social media platforms and blockchain-based gaming. .
Source: SonicSVM$SONIC Token Launch and Airdrop Details
The $SONIC token serves as the backbone of the Sonic SVM ecosystem, facilitating participation, payments, and governance within the platform.
The total supply of $SONIC is capped at 2.4 billion tokens, of which 57% is allocated to the community. As part of the launch, 7% of the total supply has been designated for an initial airdrop to early supporters, including SonicX players, node operators, and specific nft holders. Eligible participants have two options to claim their tokens:
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- Partial claim with vested rights: Claim 60% of the allocation immediately, and the remaining 40% will be awarded in six months, earning you a 140% bonus on the amount purchased.
- Full claim: Claim 100% of the allocation up front, with no additional bonuses.
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The airdrop claim process has been available since January 3 and with the token generation event completed, $SONIC tokens can now be traded on multiple exchanges such as KuCoin, BitGet, BingX, and more.
The token has seen significant volatility since its launch, with a 55% increase in the last 24 hours and trading volume increasing to $2.4 billion. At the time of writing, the $SONIC token is trading at approximately $0.85 USD according to data from CoinGecko.
