Sonic is planning a token generation event (TGE) to coincide with the launch of its own mainnet. The TGE took place yesterday (7), but the full mainnet launch will not take place until February 10.
This news comes from an exclusive press release shared with BeInCrypto.
Sonic creates TGE for mainnet launch
Sonic, a Solana-based gaming virtual machine (SVM), has been teasing both this TGE and mainnet launch for some time. The company renamed itself Fantom in August and wanted to distinguish Sonic with new products.
In September, the testnet was launched, and the company repeatedly promoted the full launch in the following months. Now, finally, the mainnet launch has an official date.
The launch of the SONIC token will raise awareness of the network’s upcoming launch and bring more users into its growing ecosystem. Sonic is well-positioned to deploy its own mainnet and realize its goal of popularizing access to web3 services, the press release stated.
With the token launch yesterday (7), SONIC is now listed on several centralized exchanges, including OKEx, Bybit, KuCoin, and MEXC. According to data from CoinMarketCap, the highest trading volume is currently on MEXC four hours after the launch. It is also available on several Solana-based DEXs, including Raydium and Meteora.
Airdrop should boost Sonic adoption
In late December, the company announced a major token airdrop for TikTok users, as Sonic onboarded 2 million users through the app. GameFi is a key component of the company’s operations, and this airdrop will support Sonic’s goal of achieving widespread adoption of its platform.
However, Sonic does not exist as a pure-play GameFi company, and its TGE announcement seeks to highlight its growing network capabilities. For example, in late December, the firm collaborated to build a cross-chain AI hub. This mainnet launch will incorporate several new functionalities that are entirely distinct from GameFi.
Sonic wants to release DEX
Some of these features will include the launch of a decentralized exchange (DEX) and a native RPC to optimize the reliability and scalability of the network. Ultimately, it is unclear how well these incentives or new features will help attract new interest.
While Sonic has fared well in the general crypto bull market, it has been losing market value steadily for several weeks. The mainnet launch is more than a month away, and it’s impossible to say how much Sonic’s hype will change its fortunes.
The article Sonic announces token event and exchange listings appeared first on BeInCrypto Brasil.
