Sonic (prev. FTM)

Sonic (Previously FTM) Cryptocurrency Product Introduction

• Basic Overview: Sonic is a high-performance EVM-compatible Layer-1 blockchain, formerly known as Fantom (FTM). It has rebranded to Sonic, with its native token FTM converted to Sonic (S) tokens at a 1:1 ratio. Sonic is dedicated to supporting decentralized finance (DeFi) and Web3 innovation.
• Technical Features: Sonic blockchain stands out for its exceptional performance, supporting up to 400,000 transactions per second (TPS) and achieving sub-second finality. It utilizes a DAG-based ABFT consensus mechanism, ensuring efficiency and security while offering seamless interoperability with the Ethereum ecosystem.
• Key Functionalities: The Sonic network includes a decentralized gateway (Sonic Gateway) for bridging assets between Ethereum and Sonic. Additionally, it offers an innovative fee model (FeeM), allowing developers to earn up to 90% of transaction fees, incentivizing development and ecosystem growth.
• Use Cases: Sonic is particularly suited for DeFi, gaming, and Web3 applications. Its high throughput and low latency make it an ideal choice for real-time derivatives trading, high-frequency trading, and other scenarios, while also supporting large-scale decentralized application development.
• Token Utility: Sonic’s native token, S, is used for paying network fees, staking, and governance decisions. Holders can upgrade their original FTM tokens to S tokens through official channels.
• Market Performance: Based on available information, Sonic (S) price and trading volume are updated in real-time, showing active market engagement. Specific data can be accessed via mainstream cryptocurrency market platforms.
• Ecosystem and Partnerships: Sonic has integrated with multiple DeFi platforms and tools, such as the 1inch network, and established connections with other ecosystems like Solana, enhancing liquidity and cross-chain capabilities. Additionally, Sonic tokens can be used for everyday spending through certain crypto card services.
• Summary: As an upgraded version of Fantom, Sonic holds a significant position in the Layer-1 blockchain space with its robust technical performance and developer-friendly mechanisms. Whether for developers or investors, Sonic offers an efficient, secure, and forward-thinking blockchain solution.