Shiba Inu Deployers Could Have Made $88M+ if SHIB Was on This Network
The post Shiba Inu Deployers Could Have Made $88M+ if SHIB Was on This Network appeared on BitcoinEthereumNews.com.
Shiba Inu deployers could have made millions from the adoption of the meme coin if the project launched in the Sonic network. Andre Cronje, the founder of Sonic, recently discussed the potential earnings meme coin deployers could have made had their tokens launched on Sonic. He specifically noted that Shiba Inu (SHIB) deployers alone could have earned over $88 million. However, other meme coins like Pepe and Floki also stood to benefit massively, with potential earnings of $5.8 million and $1.6 million, respectively. These figures are a result of Sonic’s gas monetization model, which offers developers up to 90% of gas fees generated by their projects. Sonic’s Gas Monetization Approach For the uninitiated, Sonic is a blockchain designed to provide developers with a more lucrative environment. With its high-speed transaction finality of 720 milliseconds and scalability, Sonic seeks to be a prime choice for decentralized applications (dApps). The appeal of Sonic is particularly strong due to its gas monetization feature, which offers developers up to 90% of the gas fees generated by their dApps. In a previous post, Cronje compared Sonic to Ethereum, explaining how protocols like Compound, Aave, and even stablecoin issuers like Circle and Tether could have earned millions more if they had access to Sonic’s gas revenue model. Curious how much some of the top protocols on Ethereum would have been paid if Ethereum offered 90% of gas fees to the Dapp like Sonic? Compound: $30,439,872.62Aave: $87,609,646.10Circle: $305,878,808.70Tether: $972,937,819.80Uniswap: $2,439,295,129.10 https://t.co/RMjxvGvyzI pic.twitter.com/GriWxv2ynI — Andre Cronje (@AndreCronjeTech) September 13, 2024 This approach makes Sonic highly appealing to dApp developers, as it rewards those generating high traffic with substantial financial returns, a feature lacking in traditional blockchain platforms. Shiba Inu’s Shibarium L2 Commenting on this, a representative from Fantom Starter, a decentralized finance project, suggested that serious projects now…
Filed under: News - @ September 26, 2024 6:21 pm