Solana-based Layer 2 community Sonic SVM formally launched its native token $SONIC on Tuesday.

The token technology occasion occurred on January 7, 2025 at 12:00 PM (UTC), permitting $SONIC to start buying and selling on varied cryptocurrency exchanges.

This launch is very noteworthy for gamers of SonicX, the TikTok-based tap-to-earn recreation developed by Sonic SVM. They’ll obtain airdropped tokens as rewards for his or her progress inside the app.

What’s Sonic SVM?

Sonic SVM is the primary Solana digital machine (SVM) networking extension constructed on Solana and centered on video games and functions.

Leverage the Sonic HyperGrid framework to orchestrate optimistic Solana rollups to boost the scalability and efficiency of decentralized gaming ecosystems.

Sonic SVM seamlessly onboards Web2 customers into the Solana and Web3 ecosystems by integrating with platforms like TikTok via functions like SonicX, making a bridge between conventional social media platforms and blockchain-based video games. We intention to take action.

$SONIC token launch and airdrop particulars

The $SONIC token serves because the spine of Sonic SVM's ecosystem, facilitating staking, funds, and governance inside the platform.

The full provide of $SONIC is restricted to 2.4 billion tokens, with 57% allotted to the neighborhood. As a part of the launch, 7% of the entire provide has been earmarked for an preliminary airdrop to early supporters, together with SonicX gamers, node operators, and sure NFT holders. Eligible contributors have two choices to assert their tokens.

1. 1. 1. Partial declare with vesting: In case you declare 60% of your allocation instantly and vest the remaining 40% over 6 months, you'll earn a bonus of 140% of your vested quantity.
      2. Full declare: We cost 100% of your allocation upfront with no extra bonuses.

The airdrop declare course of has been obtainable since January third, and with the completion of the token technology occasion, $SONIC tokens can now be traded on a number of exchanges together with KuCoin, BitGet, and BingX.

The token has skilled vital volatility since its launch, growing by 55% up to now 24 hours and buying and selling quantity hovering to $2.4 billion. In keeping with knowledge from CoinGecko, the $SONIC token is buying and selling at round USD 0.85 on the time of writing.