Written by: Sleeping in the Rain

1/ Sonic is a new high-performance Layer1 (you can look at the performance of Sonic mentioned in Fantom’s publicity, but it’s just a look. If there are no users and developers, it will still be just a ghost chain). The launch of Sonic does not affect the Fantom Opera chain. However, it is clear that the focus of the Fantom Foundation will be on Sonic in the future.

2/ $S is the native token of Sonic Network, which can be exchanged with $FTM at a 1:1 ratio for six months at TGE. The Fantom Foundation calls the cross-chain bridge between Sonic and other chains the Layer2 cross-chain bridge (This will be a new layer-1 chain with a native layer-2 bridge connected to Ethereum and beyond).

3/ Airdrop

In a tweet, Fantom mentioned that 190M $FTM will be airdropped to users.

How to operate it?

In Sonic's second proposal, it is mentioned that the airdrop is intended to incentivize Fantom Opera users and new Sonic users. The airdrop points activity is expected to last for more than 6 months. The goal of the airdrop is to incentivize activities, application revenue, and gas fee revenue in the Opera and Sonic ecosystems to drive TVL growth.

Could look like (LP will definitely be the priority for airdrop):

The official website will launch a webpage to help users check their current points. In addition, the official website will fight against witches.

4/ Token destruction (subject to the final result, what I am repeating now are the proposal contents)

The destruction of tokens will be reflected in the airdrop collection.

The general understanding is that the airdrop will be unlocked linearly (25% will be released at the beginning), and users may be able to accelerate this process through on-chain activities. Those who claim the airdrop in advance will be punished (part of the airdrop reward will be destroyed, there is a coefficient here). Then, the official will work with PaintSwap to create an fNFT market to allow users to trade the unlocked $S airdrop NFT.

Here is a separate explanation of the remaining 75% $S release rules (not 270-day linear unlocking):

For example: Andrew received a 1,000 $S airdrop. After receiving 250 $S immediately, 90 days later, he decided to claim the rest of the airdrop. At this point, he can claim 249.75 $S (33.3% of the remaining 750 $S allocation), and will burn 500.25 $S (66.7% of the remaining 750 $S allocation).

It is not a linear unlocking process. The proportion of tokens that can be obtained depends on how long the user waits.

5/ Token Inflation

Six months after the launch of Sonic, the official will mint a portion of $S tokens to fund subsequent marketing, ecosystem development, and partnerships. The official will ensure that 100% of $S is used for Sonic ecosystem development, and unused $S will be destroyed.

6/ Conclusion

Unlike the previous Avalanche Rush method of directly throwing money, current project owners have learned how to PUA users. The same is true for Sonic. If we assume that the intention of Fantom’s people is to build this ecosystem and use airdrops to attract users, then the ecosystem needs to give users sufficient incentives—at least in the first 6 months. And it is worth mentioning that, unlike the airdrops of other protocols, the total value of 190M $FTM fluctuates with its price at any time. Therefore, the higher the price of $FTM, the more attractive it is for farmers to cultivate.

All information comes from here⬇️

https://forum.fantom.network/c/sonic-network/9