What Is Sonic (S)?

What Is Sonic (S)?

Sonic, formerly known as Fantom, is a high-performance Layer-1 blockchain designed to enhance scalability, efficiency, and transaction speed. The project underwent a strategic rebranding to Sonic on August 1, 2024, reflecting its commitment to technological advancements and a more developer-friendly ecosystem. This transition was not merely a name change—it introduced substantial upgrades, significantly improving the platform’s performance and user experience.

One of the key innovations introduced with Sonic is its enhanced transaction capacity, enabling the blockchain to process up to 10,000 transactions per second (TPS). Additionally, transaction finality has been optimized to under one second, making the network one of the fastest in the industry. These improvements allow Sonic to support a wide range of decentralized applications (dApps), including DeFi protocols, NFTs, and enterprise solutions.

The network’s native token has also been rebranded from FTM to S to align with the new ecosystem. Starting December 18, 2024, all FTM tokens became convertible to S tokens at a 1:1 ratio, ensuring a seamless transition for existing holders. This rebranding marks Sonic’s renewed commitment to innovation, speed, and a user-centric blockchain experience.

Who Created Sonic

Sonic (formerly Fantom) was founded in 2018 by Dr. Ahn Byung Ik, a South Korean computer scientist best known for creating SikSin, a leading restaurant review platform in South Korea. Although Dr. Ahn was the original visionary behind the project, he stepped down in 2019, and Michael Kong, an experienced Ethereum smart contract developer, took over as CEO.

Sonic has also benefited from the expertise of Andre Cronje, the creator of Yearn Finance (YFI) and a well-known DeFi architect. Cronje played a key advisory role, helping to refine the project’s multi-chain capabilities and strengthen its decentralized finance infrastructure. Under this leadership, Sonic has grown into a robust ecosystem with a focus on scalability, security, and seamless interoperability.

How Does Sonic Work

Sonic utilizes an advanced asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism, known as Lachesis, to achieve ultra-fast transaction speeds without sacrificing decentralization or security. This consensus model allows transactions to be confirmed within 1-2 seconds at a fraction of a cent, making Sonic an ideal blockchain for high-volume applications across decentralized finance (DeFi), gaming, and enterprise solutions.

A key advantage of Sonic is its high throughput and scalability, enabled by the Lachesis consensus, which allows the network to process a high volume of transactions efficiently, addressing the scalability challenges that traditional blockchains face. Additionally, Sonic is fully compatible with the Ethereum Virtual Machine (EVM), enabling developers to seamlessly port Ethereum-based smart contracts without modification. The platform also boasts near-zero transaction fees, making it a cost-effective solution for DeFi applications, NFTs, and large-scale enterprise integrations.

Unlike traditional blockchains that rely on linear data structures, Sonic employs a Directed Acyclic Graph (DAG) architecture, allowing for asynchronous transaction processing. This structure significantly enhances the blockchain’s efficiency, security, and decentralization. The Lachesis consensus mechanism further ensures that transactions are finalized almost instantly, positioning Sonic as a top contender for real-time applications such as financial services, IoT, and supply chain management.

Sonic directly addresses key challenges faced by traditional Layer-1 blockchains, such as slow transaction speeds, high fees, and scalability limitations. By providing a high-performance, low-cost blockchain without compromising decentralization, Sonic enables developers to build and deploy smart contracts and dApps more efficiently while maintaining network security.

Looking ahead, Sonic aims to continue expanding its ecosystem with several strategic initiatives. The project is focused on enhancing interoperability with other major blockchains, developing more user-friendly tools for developers, and expanding institutional partnerships to drive real-world adoption. Additionally, Sonic plans to implement further scalability upgrades to support even higher transaction speeds. Sonic's long-term vision is to establish itself as a leading blockchain for DeFi, enterprise applications, and high-speed financial services, creating a more efficient, scalable, and accessible decentralized ecosystem.

Sonic Tokenomics

Fantom (FTM), now Sonic (S), is the native utility token of the Fantom network, designed to facilitate various functions within its ecosystem. The total supply of FTM is capped at 3.175 billion tokens, with approximately 2.8 billion currently in circulation, accounting for about 88% of the total supply.

The initial distribution of FTM tokens was allocated as follows:

• Block Rewards: 33.9% (approximately 1.08 billion FTM)

• Token Sale: 26.5% (840 million FTM)

• Market Development: 19.8% (630 million FTM)

• Team and Founders: 9.9% (315 million FTM)

• Advisors/Contributors: 9.9% (315 million FTM)

FTM serves multiple purposes within the Fantom network:

• Network Security: FTM tokens are used in the Proof-of-Stake (PoS) consensus mechanism, where validators stake FTM to participate in securing the network.

• Governance: Stakers can propose and vote on changes and improvements to the platform, thereby influencing the network's development.

• Transaction Fees: FTM is used to pay for transaction fees on the network, which are notably low, often below $0.01 per transaction.

The network employs a Proof-of-Stake (PoS) system, where validators stake FTM tokens to participate in the consensus process and secure the network. By staking FTM tokens, holders can earn rewards sourced from both network transaction fees and an inflationary mechanism that introduces new tokens into circulation. The inflation rate decreases over time, making rewards more scarce and valuable, thereby encouraging early participation.

How To Trade Sonic (S) on Flipster

1. Sign up for an account on the Flipster website or by downloading the Flipster app (Android or Apple).

2. Click the [Trade] tab.

3. Search for S and click on it.

4. Select the leverage (up to 25x).

5. Select either a Trigger Order or Market Order.

6. Input the amount of crypto you wish to trade, or select a percentage of your available funds to use.

7. Once you have confirmed the details, click the [Long] or [Short] button to open a position.