SonicPrice

(SONIC)

Sonic is an EVM-compatible Layer-1 blockchain engineered for exceptional speed, security, and scalability. It aims to serve as a robust foundation for decentralized applications (DApps) and innovative projects. Designed to handle high transaction volumes, Sonic boasts rapid transaction processing, with some reports indicating speeds up to 400,000 transactions per second (TPS) with 1-block finality, while other sources mention over 2,000 TPS with sub-second finality, ensuring quick and efficient operations across its network.

The S token is the native cryptocurrency integral to the Sonic ecosystem. Its primary utilities include covering transaction fees incurred on the network, participating in staking to secure the blockchain, and enabling validator involvement to maintain network integrity. Furthermore, S token holders have governance rights, allowing them to vote on crucial proposals and changes that shape the future development and direction of the Sonic ecosystem.

Yes, Sonic is fully EVM compatible. This crucial feature allows developers to seamlessly deploy applications originally built for other EVM-based blockchains onto Sonic without requiring significant code modifications. It also means developers can leverage familiar programming languages like Solidity and Vyper to create new decentralized applications, fostering a developer-friendly environment and simplifying the migration process from other EVM chains.

Yes, Sonic provides strong incentives for developers through its Sonic Labs program. A key offering is the Fee Monetization program, which rewards developers with a substantial portion—up to 90%—of the transaction fees generated by their applications. Additionally, the Innovator Fund offers significant financial support, allocating up to 200,000,000 S tokens to encourage and fund innovative projects building within the Sonic ecosystem, fostering a vibrant and growing developer community.

The total fixed supply of S tokens is 3.175 billion. This specific supply figure was established to match the supply of FTM tokens at the time of Sonic's launch, providing a clear and transparent starting point for the new token's distribution and economic model.

Users holding tokens from the predecessor ecosystem, specifically FTM tokens, have a straightforward path to convert them into S tokens. This can be done on a 1:1 basis. Two main methods are available: users can utilize automatic conversion services offered by participating centralized exchanges, or they can opt for the official upgrade bridge designed for those holding their FTM tokens in on-chain wallets, ensuring a seamless and secure transition to the Sonic network.