The Solana L2 ecosystem will be powered by Sonic’s native token, SONIC, which will be launched on January 7.
Sonic, the Solana Virtual Machine (SVM) layer-2 chain for games and applications, is scheduled to introduce its native token, SONIC, on January 7, 2025. This development is a critical milestone in Solana L2 Sonic’s roadmap, which is intended to facilitate the operation of its blockchain ecosystem specifically focused on gaming and improve its infrastructure’s scalability.
On January 7, Solana L2 Sonic will introduce its native token, SONIC
Sonic has announced its intention to implement its SONIC token’s Token Generation Event (TGE) in a recent blog post. This event will serve as the subsequent phase of Sonic’s development. 57% of the token’s total supply is allocated to the community, with a cap of 2.4 billion. This allocation comprises tokens that are designated for ecosystem development, initial claims, and rewards within the Sonic HyperGrid framework.
Additionally, 15% of the total supply will be circulated during the TGE to encourage early adoption. The team has confirmed that SONIC will be listed on centralized and Solana-based decentralized exchanges. Additional information will be disclosed through social media.
The distribution of Solana L2 native tokens prioritizes community engagement, with 7% of the tokens earmarked for an airdrop to early supporters. A snapshot was taken on December 31, 2024, to determine eligibility for the airdrop. There is still a chance for participants to qualify by engaging with SonicX on TikTok before January 6, 2025.
The community will be able to verify their claims for the airdrop by utilizing an eligibility checker starting on January 3. Contributors who supported Solana L2 Sonic during its initial stages, such as delegators, node holders, and participants, will receive incentives from the initiative.
Ecosystem Integration and Token Utility
The SONIC token will be a critical component of the Solana L2 ecosystem, providing various benefits. It will be used as a payment currency in Sonic SVM applications, supports staking rewards, and facilitates community governance. By staking tokens, users can enhance network security and engage in the decision-making processes within the ecosystem.
Validators in the Sonic HyperGrid network must stake SONIC tokens, and delegators who contribute to the staking pool will receive rewards. The objective of this framework is to promote active participation while simultaneously guaranteeing network stability and decentralization.
The launch of the Solana L2 SONIC token represents phase 1 of the Layer-2 blockchain. It comprises the activation of Sonic SVM Genesis and the HyperGrid Shared Sequencer Network. By early 2025, Phase 2 will culminate in deploying the mainnet alpha, introducing bridges, and launching Sonic X applications for Android and iOS. Additional expansions are anticipated for mid-2025, encompassing updated staking mechanisms and advanced scaling solutions.
Furthermore, the price forecast for Solana in 2025 indicates an optimistic market sentiment fueled by its expanding adoption and robust ecosystem. Analysts anticipate that the price of SOL could reach $400, as evidenced by its prior upward trajectory from $84 to $263.83 in 2024.
