Sonic

Sonic is a fast EVM layer-1 blockchain, the successor of Fantom; S pays fees, is staked with validators and is used in governance.

Sonic is a layer-1 blockchain compatible with Ethereum applications. It replaced the Fantom network: holders of the old FTM token exchanged it 1:1 for S, so S is the same asset under a new name and on a new chain. S pays transaction fees, is staked to secure the network and is used in governance.

Validators earn block rewards and a share of gas fees; the target reward is 3.5% a year when half of all S is staked. Holders can delegate to validators with a 14-day withdrawal wait. Developers receive up to 90% of the fees their apps generate. About 2.88 billion S circulate. In 2025 governance issued about 472 million new S for a U.S. expansion; in September 2026 the new CEO said all manual mints are cancelled and commissioned an independent supply audit.

Sonic changed its leadership in June 2026. Version 2.2 of the network went live on 22 September 2026. DeFi value locked on the chain was about $17.7 million at the start of October 2026.