What Sonic (S) is
Sonic is a layer 1 blockchain born from the rebrand of Fantom, officially announced on 1 August 2024. The move was more than a change of name: the project replaced its previous network, Opera, with a new infrastructure geared towards speed and throughput, alongside a bridge connecting it to Ethereum.
According to the project, the network is designed to handle over 10,000 transactions per second with finality of around one second.
How the token works
S is the network’s native crypto-asset and replaces the previous FTM, in a migration carried out at a 1:1 ratio. The token is used to pay transaction fees (gas fees), to take part in staking — with rewards that are variable and not guaranteed — and in the network’s governance.
Total supply is around 3.175 billion tokens, with an additional annual issuance mechanism of 47.6 million and burning mechanisms provided for by the protocol. The tokenomics are a structural feature of the project: they do not constitute a guarantee as to price performance.
Origins
The project began life as Fantom, founded by the South Korean computer scientist Ahn Byung Ik, and was later led by Michael Kong, its current chief executive, who directed its technical development and expansion. During the Fantom phase, Andre Cronje — a well-known figure in DeFi and the creator of the Yearn.finance protocol — contributed as a technical adviser.
The structure is today split between two entities: Sonic Labs, responsible for developing the network and its ecosystem of decentralised applications, and the Sonic Foundation, which handles governance and the project’s resources.
What to consider
Sonic sits in one of the sector’s most crowded segments, that of high-performance layer 1 blockchains, where the decisive factor is not the headline technical figure but actual adoption by developers and users. It is also worth bearing in mind that the project has been through a transition of both identity and infrastructure: changes of that magnitude can significantly alter how a project is perceived by the market.
Past performance is not a guarantee of future results.
Sonic Market Data
Learn More in the Academy
From Web3 basics to decentralised finance. Access guides and insights tailored to every level, and navigate the crypto market with confidence.
Buy Sonic in 3 steps on Young Platform
What does the Young Platform do?
Young Platform is the Italian platform for the crypto-asset world. Since 2018, we have been working from Turin to make buying and selling crypto-assets a clear and accessible experience — whether you are taking your first steps or trading regularly. Over 2 million users have already chosen us (as of June 11, 2026). Our shareholders include Azimut, United Ventures, and Banca Sella, among others. For details on our updated corporate structure, please visit the official page on our website.
Check out the Top movers
Discover the cryptocurrencies with the biggest price changes over the last 24 hours.
