Sonic aims to provide a high-performance, scalable, and secure infrastructure for decentralised applications (dApps), decentralised finance (DeFi), gaming, and enterprise solutions. It is a rebrand and evolution of the Fantom (FTM) network. The platform emphasises speed, interoperability, and a developer-friendly environment to foster innovation in the Web3 ecosystem.
Note
Luno does not currently support sending or receiving Sonic, but you can still buy or sell it like any of our other cryptocurrencies. This decision has been made in order to ensure there are appropriate controls in place to maintain the highest standards of investor protection. Learn more about why you can't send or receive Sonic.
Who created Sonic?
Sonic was developed by Sonic Labs, building upon the groundwork laid by the Fantom Foundation. The transition from Fantom to Sonic represents a strategic rebranding and technological upgrade to address the growing demands of the crypto industry. The Fantom Foundation continues to support Sonic's development, ensuring continuity and leveraging its experience in crypto innovation.
How does Sonic work?
Sonic operates on the Sonic Consensus System (SonicCS 2.0), a Directed Acyclic Graph (DAG)-based consensus mechanism designed to enhance scalability and transaction throughput. This system allows for overlapping elections, enabling faster transaction finality and improved network efficiency. The platform boasts a transaction processing capacity of up to 10,000 transactions per second (TPS) with sub-second finality, making it suitable for high-demand applications.
Sonic is compatible with both the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM), providing flexibility for developers and facilitating the migration of applications from other decentralised ecosystems.
What is the native cryptocurrency of Sonic?
The native cryptocurrency of the Sonic network is S. It serves multiple purposes within the ecosystem, including paying for transaction fees, staking, participating in governance, and incentivising developers through the Fee Monetisation (FeeM) program. Sonic maintains token security and price stability through its tokenomics. This is achieved via staking rewards, a controlled token emission schedule, and burn mechanisms designed to balance the token supply.
At launch, the total supply of S was 3.175 billion tokens, with an initial circulating supply of approximately 2.88 billion. An additional 6% of the total supply is allocated for an airdrop program, rewarding both Fantom Opera and Sonic users and builders.
A 1:1 token swap from FTM to S means that users holding Fantom's FTM token can migrate to Sonic's native token (S). This migration signals a shift in the official ecosystem from Fantom to Sonic.
Tip
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Want to know how to buy or sell S? We’ve got answers in the following help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.