The rebranding on August 1, 2024, wasn’t just a name change; it represented a strategic shift in vision. With this new identity, Sonic aims to offer greater scalability, faster transaction finality, lower fees, and a more developer-friendly Web3 environment. The network’s native token FTM became convertible 1:1 into the new S token, with the migration window remaining open for six months.

Core Pillars of Sonic: Speed, Security, and Interoperability

With its upgraded infrastructure, Sonic can theoretically process up to 10,000 transactions per second (TPS), with sub-second finality. This places Sonic among the fastest blockchains in the market.

At the heart of the network lies the Lachesis consensus protocol, built on asynchronous Byzantine Fault Tolerance (aBFT). Unlike traditional blockchains, Lachesis processes transactions by linking events rather than fixed blocks, allowing faster confirmation, reduced data usage, and ultra-low fees—typically as low as $0.001 per transaction.

Sonic is also fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to migrate Ethereum-based smart contracts without modifications. The Sonic Gateway bridge facilitates secure and low-latency cross-chain transactions between Sonic and Ethereum.

A Powerful Developer Incentive Model

Sonic Labs introduces an innovative revenue-sharing model to support on-chain developers. Through the Fee Monetisation (FeeM) program, developers can earn up to 90% of transaction fees generated by their decentralized applications (dApps).

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

This model resembles how content creators earn income through platforms like YouTube or TikTok, making Sonic not only technically compelling but also financially rewarding for builders.

S Tokenomics and Network Design

The S token is the native utility token of the Sonic network. It powers the ecosystem by enabling fee payments, staking, governance participation, and validator rewards. It also replaces the former Fantom (FTM) token, with a seamless 1:1 conversion process designed to onboard the existing community.

Key Metrics

• Total Supply: 3.175 billion S
• Initial Circulating Supply: ~2.88 billion S
• Maximum Supply: None (regulated through controlled inflation and burn mechanisms)

Airdrop Program

Six months post-mainnet launch, an additional 6% of S tokens (~190.5 million) will be minted and distributed to both Fantom Opera and Sonic users and builders.

• 75% of airdropped tokens are locked in a 270-day vesting period.
• Early claims are penalized via token burns to incentivize long-term commitment and active participation.

Inflation & Block Rewards

To maintain decentralization and incentivize validators, Sonic follows a balanced issuance model:

• For the first 4 years, no new S tokens will be minted. Rewards will be funded using unclaimed Fantom Opera block incentives.
• After year 4, new S tokens will be minted annually at a controlled rate of 1.75%.
• Each year, 47.625 million S tokens will be allocated for network growth, team expansion, and marketing—any unused tokens will be permanently burned.

The structure has been preserved post-transition, with greater flexibility introduced through staking incentives, dynamic burning, and airdrop-based community growth.

Funding and Investors

To date, Sonic has raised a total of $101.54 million. 59% came from private rounds, and 41% through public sales.

Notable Investors:

• Galaxy Digital
• OKX Ventures
• SoftBank
• Hashed Fund
• Signum Capital
• Andre Cronje (Creator of Yearn Finance, Advisor)
• Stani Kulechov (Founder of AAVE)

Sonic Team

• Michael Kong – CEO
• Andre Cronje – CTO, DeFi Architect & Advisor
• Ahn Byung Ik – Founder
• David Richardson – Co-founder
• Bernhard Scholz – CRO

Staking & Validator Incentives

S token holders can stake their tokens to support network security and earn rewards. Depending on the total staked supply, annual reward rates range from 1.75% to 7%. A 14-day unbonding period applies for unstaking.

Validators also earn a share of network fees in addition to block rewards, further incentivizing honest and secure participation in network operations.

The Future of Sonic

Sonic is on a mission to build a sustainable, high-speed digital economy for the Web3 era. With comprehensive developer tools, built-in interoperability, and negligible transaction costs, Sonic positions itself not just as a blockchain—but as a full-fledged decentralized ecosystem.

Already integrated into sectors like NFTs, DeFi, gaming, and enterprise services, Sonic aims to expand globally through strategic partnerships, ecosystem funding, and community-driven development.

Official Links

• Official Website
• Whitepaper
• X (Twitter)
• Telegram

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The post What is Sonic (S)? appeared first on Coin Engineer.

CEO Michael Kong Aims for Safer Memecoins Amid Trading Craze

Kong ideates a scene where the memecoins are securely sheltered under the robust security system, free from the destabilizing fraudulence that had characterized this domain of cryptocurrencies. To make this vision a reality, $6.5 million will be dedicated to compensation for the developers out of the total amount received by Fantom as an award in the nearly $50 billion developers market.

The most popular cryptocurrencies, memecoins which have mainly selected platforms such as Solana and Base, have surprisingly witnessed the highest trade volume on Solana in such a manner that it is even bigger than the Ethereum trading volume during the memecoin hype peak. On the other hand, a massive build-up has been tarnished by the alarming reality of scams, to the extent that one out of six memecoins displayed on Base have been proven to be fake.

Strategic Move to Ensure Integrity and Customer Satisfaction in Booming Sector

The objective goal of this initiative was advised by Kong who presented it as part of the MemeGlobal event held in Sydney, Australia on April 30. The setup of a 10 million Fantom prize contest of $6.5 million is their grounded argument for developing safe and adequate soil for memecoin projects.

Kong stressed that these two criteria were key to the company eventually being successful. As long as it is DeFi, NFTs or memecoins, Fantom platforms remains customer-centered, but only with a client promise of safety and integrity.

Not far behind Kong came the co-founder Andre Cronje, who enumerated some of the means by which they can create a safe launch and exploit of memecoins within the Fantom ecosystem. Such legal instruments integrate the ownership of the token liquidity with the Fantom Foundation as well as Marketing and Team assets in a responsible manner.

Through the pragmatic approach to memecoin project, the platform of Fantom creates the democratic lauching of the projects that gurantees the wide distribution and the community involvement. Cronje’s proposal has in-built mechanisms to lessen the risk of concentration, hence allowing many individuals to hold memecoin in a fair and even environment.

The fact that Fantom joins the memecoin bandwagon is happening when the blockchain alongside is slowly climbing the ladder to the peak, being presently in the 38th position in DefiLlama’s list of total value locked (TVL) amounting to $108.3 million. The ability of Fantom to establish itself is a major challenge. Nonetheless, its pioneering spirit and persistence make it likely that it will breakthrough the blossoming memecoin arm with ingenuity and vigilance.

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