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Cryptocurrency News Articles

SONIC Token Generation Event to Launch on January 7, Allocating 57% of Total Supply to the Community

Dec 31, 2024 at 11:03 pm

Sonic, a Solana Virtual Machine chain focusing on games and applications, is set to introduce its native SONIC token on January 7.

SONIC Token Generation Event to Launch on January 7, Allocating 57% of Total Supply to the Community

Sonic, a Solana Virtual Machine (SVM) chain centered around games and applications, is preparing to introduce its native SONIC token on January 7.

According to the announcement made on December 31, the token generation event will see 57% of the total supply allocated to the community, with reserves for the ecosystem, initial claims, and Sonic HyperGrid rewards.

The announcement comes after Sonic recently revealed plans to airdrop its native tokens to TikTok users. The SONIC token will power the blockchain’s gaming-focused platform and its multi-Solana Virtual Machine ecosystem.

Sonic will be launching a total supply of 2.4 billion tokens, out of which 15% is expected to enter circulation during the token generation event. The initial claim for SONIC, where 7% of the total supply will be distributed, will be available for community members to claim with an eligibility checker going live on January 3.

This token launch event marks the first phase of Solana’s project roadmap, with subsequent phases targeting the mainnet alpha, Sonic X apps for Android and iOS, and integration of token bridges. The project’s future goals include HyperGrid optimistic rollups and the launch of Sonic Grid v2 in 2025.

As the token launch nears, the Sonic team will be announcing listings on both centralized and Solana-based decentralized exchanges via their social media channels.

Original source:westislandblog

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