Sonic Price

Sonic is a high-performance Layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM). It offers rapid transaction speeds, handling over 10,000 transactions per second (TPS) with sub-second confirmation times. 

Transaction costs are minimal, averaging less than $0.01. Developers can earn 90% of their application's fees through Sonic's Fee Monetization program. 

The platform provides tools like SonicVM for fast execution and SonicDB for efficient storage. You can bridge assets from other networks using the Sonic Gateway. 

The native token, S, is used for transaction fees, staking, running validators, and participating in governance. 

You can upgrade FTM to S on a 1:1 basis through their upgrade portal. 

Sonic operates as a high-performance Layer-1 blockchain. It uses a Proof-of-Stake (PoS) mechanism, where validators lock their S tokens to secure the network. 

For consensus, Sonic employs Asynchronous Byzantine Fault Tolerance (ABFT) combined with a Directed Acyclic Graph (DAG) structure. This design allows validators to process transactions independently and asynchronously, leading to faster transaction speeds and sub-second finality. 

Additionally, Sonic is fully EVM-compatible, enabling you to deploy Ethereum-based applications without code changes.

Fantom has transitioned to Sonic, introducing the S token as its native asset. You can swap your FTM tokens for S tokens at a 1:1 ratio. This exchange is available through Sonic's official upgrade portal.

For the first six months after Sonic's launch, you can swap FTM for S tokens at a 1:1 rate. After this period, only one-way swaps from FTM to S will be supported.

Major exchanges like KuCoin have completed the token swap and now support S token transactions.

You can use the Sonic (S) token for various purposes within the Sonic blockchain ecosystem. It serves as the primary medium for transaction fees, staking, and governance. Additionally, you can trade Sonic tokens on exchanges like KuCoin.

This allows you to participate in the network's operations and benefit from its decentralized finance (DeFi) applications.

At Sonic's launch, the total supply of S tokens was 3.175 billion. Six months post-launch, an additional 6% will be minted for an airdrop program, rewarding both Fantom Opera and Sonic users and builders. 

To fund ongoing growth, 1.5% of S tokens will be minted annually for six years, starting six months after the mainnet launch. Unused tokens from this allocation will be burned to prevent inflation. 

Block rewards are structured to provide a 3.5% annual percentage rate (APR) when 50% of the network's tokens are staked. In the first four years, these rewards come from reallocated tokens, avoiding new inflation. After this period, new tokens will be minted at a rate of 1.75% per year to continue rewarding validators. 

Additionally, three burn mechanisms are in place to reduce token supply: burning a portion of transaction fees from non-participating apps, burning tokens from users who opt for early airdrop withdrawals, and burning unused tokens allocated for network growth.