Sonic｜High-Performance EVM-Compatible Chain (formerly Fantom)

What is Sonic?

Sonic (formerly Fantom) is an Ethereum Virtual Machine (EVM) compatible Layer-1 blockchain platform that empowers developers to build the next generation of decentralized applications (dApps) by providing superior infrastructure and attractive incentives. It is designed to offer a smooth and efficient ecosystem for developers and users.

Main Features

• 10,000 TPS (Transactions Per Second): Sonic's network has a transaction processing capacity of 10,000 transactions per second, enabling it to handle the load of large-scale applications.
• Sub-second Finality: Transaction finality is completed in less than one second, providing users with a fast experience.

• EVM Compatibility: Supports development using Solidity and Vyper, making it easy to migrate existing Ethereum-based applications and smart contracts.
• SonicVM: Enables high-speed execution, robust security, and reduced application crashes.
• SonicDB: Supports efficient data management with fast transactions, low maintenance costs, and low storage requirements.

• Fee Monetization: Developers can earn up to 90% of the fees generated by their applications. This mechanism, similar to an advertising revenue model, maximizes developer profits.
• Innovator Fund: Provides up to 200 million S tokens to support new projects and applications.
• Airdrop: Plans to distribute 200 million S tokens to acquire users.

Sonic Gateway: A Secure Bridge to Ethereum

• Native Bridge: Enables fast and secure asset transfer from Ethereum to Sonic.
• Asset Security: Employs a proprietary fail-safe mechanism certified by auditing firms such as OpenZeppelin and Quantstamp.

Uses of S Tokens

S, Sonic's native token, is used for the following purposes:

• Paying transaction fees
• Staking and validator operations
• Participating in network governance Furthermore, Fantom (FTM) holders can upgrade to S at a 1:1 ratio.

Sonic's Vision

Sonic aims to be the most user-friendly ecosystem for developers and users by leveraging fast transactions and robust infrastructure. Its goal is to promote the adoption of decentralized applications and serve as a foundation for the development of the Web3 ecosystem.

Deflationary Mechanism Overview:

Initial Distribution: Users will receive 25% of their allocated S tokens immediately on the airdrop claim date. Vesting Schedule: The remaining 75% will be locked as ERC-1155 tokens (fungible NFTs) during a 9-month vesting period. Early Claim Burn: If users claim tokens before the end of the vesting period, a portion will be burned (destroyed). The burn rate decreases linearly over time, with earlier claims resulting in more tokens being burned.

Benefits of the Deflationary Airdrop:

Reduced Supply: Burning through early claims reduces the total supply of S tokens, increasing their scarcity. Holding Incentives: Users are motivated to hold tokens until the end of the vesting period to avoid burn penalties, promoting long-term investment and stability. Active Engagement: This model encourages users to actively participate in the network and maximize the utility of their tokens during the vesting period. Speculative Opportunities: Tokens in vesting are represented as ERC-1155 NFTs and can be traded on the secondary market. This provides users with the flexibility to leverage market trends while avoiding the burn mechanism.

Sonic Points are airdrop points designed to encourage active user participation within the Sonic ecosystem. These points are offered as part of an airdrop of approximately 200 million S tokens and incentivize various activities such as early adoption, long-term contributions, asset holding, and active engagement with apps.

Seasonal Reward Structure: Sonic Points are distributed over multiple seasons, ensuring a sustainable and dynamic reward structure and promoting continuous user engagement. The first season is scheduled to end around June 2025.

How to Earn Points:

Use of Whitelisted Assets: Users can earn Sonic Points by bridging or using whitelisted assets through approved apps within the Sonic ecosystem. The current whitelisted assets and their multipliers for the first season are as follows:
S and S LSTs: 3x
scUSD, scETH, ONE: 2x
USDC, USDT: 1x
SolvBTC, SolvBTC.BBN: 1x
Additional assets may be added to the whitelist during the season.

Types of Points

Passive Liquidity Points: Earned by bridging major assets to the Sonic mainnet. Users earn points based on the value and type of assets they hold, encouraging liquidity maintenance within the ecosystem.

Activity Points: Act as a multiplier on top of Passive Liquidity Points, promoting active user engagement within the ecosystem. Deploying assets to whitelisted applications can enhance point earnings.

Receiving the Airdrop: On the designated user airdrop claim date (around June 2025), users can claim 25% of the first season's airdrop immediately as S tokens. The remaining 75% will vest over 270 days in the form of NFTs. Users can also claim their vesting positions early by burning a portion of their allocation. Users holding airdrop NFT positions can also trade them on speculative NFT marketplaces if desired.

Summary of Steps

1. Prepare S, S LRT, USDC, USDT, scUSD, scETH, ONE, SolvBTC and SolvBTC.BBN
2. Bridge to Sonic-chain https://gateway.soniclabs.com/ethereum/sonic/usdc

Detailed Steps with Images

1. Prepare S, S LRT, USDC, USDT, scUSD, scETH, ONE, SolvBTC and SolvBTC.BBN
2. Bridge to Sonic-chain https://gateway.soniclabs.com/ethereum/sonic/usdc