Sonic SVM Tokenomics Revealed: SONIC Token Generation Event on THIS Date
TL;DR
57% of SONIC tokens will be allocated to the community, including ecosystem development, rewards, and more.
The Token Generation Event (TGE) will take place on January 7, 2025, marking the start of the token distribution.
7% of the total supply will be reserved for initial SONIC claims, offering early users the opportunity to actively participate in the ecosystem from the beginning.
On December 31, 2024, Sonic SVM, the first SVM blockchain built on Solana, announced the details of its native SONIC token economy, which will be key to driving the growth of its ecosystem. With a total supply of 2.4 billion tokens, 57% of them will be allocated to the community. The token distribution will include 30% for ecosystem and community development, 7% for initial claims, and 20% for rewards in the HyperGrid.
TGE Scheduled for January 7, 2025
The Token Generation Event (TGE) will be held on January 7, 2025, at which point 15% of the initial $SONIC supply will be released. From that day, tokens will be distributed over 6 years, with most of them going to the community. During the first 12-18 months, tokens for the team and investors will remain locked, and locked tokens will not be eligible for staking or any other use within the ecosystem.
The snapshot for the initial $SONIC claims was taken on December 31, 2024, assigning 7% of the total supply for these claims. Users will be able to verify their eligibility starting January 3, 2025, using a tool provided by the team. Additionally, the SonicX airdrop event on TikTok will remain open until January 6, offering more people the chance to obtain SONIC tokens.
Sonic SVM is the first SVM chain launched on Solana, designed to provide scalable solutions for decentralized applications and gaming. It uses the HyperGrid framework, which facilitates scalability by optimizing Solana rollups. The SONIC token will have multiple use cases within the ecosystem, including payments, staking, and governance. With its launch in January 2025, SONIC promises to be a key driver for the expansion of this ecosystem, especially with the integration of Web3 applications like SonicX, the first Web3 layer for TikTok.
Filed under: News - @ December 31, 2024 4:29 pm