TL;DR
- Sonic blockchain, formerly known as Fantom, has surpassed $1 billion in Total Value Locked (TVL), ranking as the 12th largest chain in the crypto space.
- Its DeFi ecosystem is growing rapidly thanks to an ambitious incentive program that will distribute 190 million S tokens, valued at $95 million.
- The network is also seeing a surge in daily active users, nearing all-time highs with an average of 57,000 over the past week.
In a new milestone for the crypto world, the Sonic blockchain, the evolution of the former Fantom, has surpassed $1 billion in Total Value Locked (TVL), establishing itself as one of the most promising networks in the DeFi ecosystem. This achievement places Sonic at the 12th spot in the global ranking, just behind Aptos, which holds $1.07 billion in TVL.
This growth is not a stroke of luck but the result of a well-executed strategy. Since its mainnet launch, Sonic has shown consistent progress, reflected in both numbers and community activity. Just in the last week, its TVL grew by 6%, while daily active users averaged 57,000, a figure only topped in December, when Daniele Sesta’s HeyAnon project boosted traffic. This performance confirms that adoption is increasing and the community is responding enthusiastically to the network’s offerings.
Incentives, Users, and Future Outlook
One of the key drivers behind this growth is Sonic’s robust incentive program. The project has announced the distribution of over 190 million S tokens, valued at $95 million, aimed at both users and developers actively participating in the network. These types of policies are crucial for attracting talent, liquidity and volume, creating a virtuous cycle within the ecosystem. The incentives program serves as a catalyst, fostering continuous engagement within the Sonic community.
Additionally, tokens will be distributed based on Sonic Points, which are earned by engaging with DeFi applications or simply holding assets on the network. This gamified approach not only boosts participation but also fosters a loyal and committed community. It’s an innovative model that integrates users deeply into the growth process, further solidifying Sonic’s standing in the competitive DeFi landscape.
Despite the bearish conditions in the altcoin market, which have dragged the token’s price down 26% in the past month, Sonic’s fundamentals remain strong. Its sustained growth in TVL and user activity suggests the ecosystem is maturing and may be gearing up for a breakout once the market rebounds.
In an industry where trust is everything, Sonic proves that alternative blockchains can also take the lead in the decentralized financial revolution.
