Publication date: Jan. 22, 2025

Introduction to Sonic

Sonic, formerly known as Fantom, is a next-generation blockchain platform distinguished by speed, scalability and innovation. With the name change to Sonic on Jan. 12, 2025, the platform marks a new phase in its development and underscores its focus on creating a dynamic ecosystem for developers and users. Sonic offers efficient solutions for decentralized applications (dApps) with high performance and low cost, making the platform particularly suitable for projects in DeFi, gaming and supply chain.

How does Sonic work?

Sonic uses its proprietary blockchain designed specifically for speed and security. It uses a smart system called the Lachesis consensus protocol, which ensures that transactions are super fast and secure, without becoming less reliable. Sonic also works well with other popular blockchains, such as Ethereum, making it easy for developers to switch to Sonic. This makes it easier for more people and businesses to use the platform.

Sonic's own currency, $SONIC (formerly $FTM), is very important within the system. You can use it, for example, to earn money by fixing it (strike), voting on decisions, and making payments. With the new name and improvements, Sonic makes everything even more user-friendly for everyone.

History of Sonic

Sonic began in 2018 under the name Fantom. The idea was to create a blockchain that works faster, cheaper, and smarter than legacy systems. Fantom wanted to show that blockchain does not have to be complicated and that anyone can use it, from businesses to ordinary people. In January 2025, Fantom changed its name to Sonic. This was not just a new name, but a fresh start with more focus on simple solutions and a stronger connection with users. The goal was to attract more people and show that blockchain can also be easy and accessible.

Sonic has come a long way in the meantime. It partnered with big names like Yearn Finance and Curve, who are helping to build more applications on Sonic. This has made Sonic an important platform for DeFi, where people can, for example, borrow, save, or trade without going through a bank. With these changes and collaborations, Sonic has shown that it continues to evolve and is ready for the future of blockchain.

Recent developments

With the rebranding to Sonic in 2024, the platform has taken significant steps to strengthen its position:

• Sonic Gas Rewards Program: Developers receive a portion of transaction fees as rewards, driving innovation within the ecosystem.
• New Partnerships: Sonic is partnering with companies in gaming and logistics to further integrate blockchain solutions into existing systems.
• Ecosystem expansion: The number of dApps and DeFi projects on Sonic is gradually growing, highlighting the versatility and popularity of the platform.

By 2024, Fantom reached a record 3 million daily transactions, thanks in part to growth in DeFi, gaming, and NFTs on the platform.

Share price development of Sonic

The chart below shows $SONIC's (formerly $FTM) share price development over the past five years, a period marked by significant fluctuations. In 2021, the platform reached an important milestone with a peak value of $3.48. After a correction in 2022 and 2023, a recovery set in, with the name change to Sonic in 2025 generating renewed interest. This led to an increase in the price to around $1.45 in December 2024.

Since then, however, $SONIC has experienced a sharp decline and the price now moves between $0.50 and $0.65. The big question is whether the price has found a stable bottom around $0.50. If so, this could provide a basis for a recovery towards December levels, or even above. Yet uncertainty remains: the price could also fall through $0.50. The wait is for clear signals to confirm whether the bottom formation holds.

What could drive up the price of Sonic?