Question 1

What is Sonic SVM (SONIC)?

Accepted Answer

Sonic SVM (SONIC) is a digital asset designed to power the Sonic Virtual Machine (SVM) ecosystem, a blockchain platform focused on high-speed, low-cost transactions and decentralised application (dApp) development. SONIC serves as the primary utility token for the network, enabling key functionalities such as transaction processing, smart contract execution, staking, and governance. The Sonic SVM ecosystem prioritises scalability, interoperability, and energy efficiency to provide a developer-friendly and sustainable blockchain environment.

Question 2

What is Sonic SVM (SONIC) used for?

Accepted Answer

The Sonic SVM (SONIC) token has several key use cases:

* **Transaction Fees:** SONIC is used to pay transaction fees on the SVM blockchain, with fees kept low to encourage user adoption.
* **Staking and Governance:** Holders can stake SONIC to secure the network and participate in governance through voting on proposals.
* **dApp Deployment:** Developers use SONIC to execute and deploy smart contracts within the ecosystem.
* **Decentralised Finance (DeFi):** SONIC facilitates DeFi applications such as decentralised exchanges (DEXs), lending platforms, and synthetic assets.
* **Gaming and NFTs:** It powers blockchain-based gaming and NFT transactions, enabling the purchase of in-game assets, NFT minting, and royalty payments.
* **Cross-Border Payments:** With its high-speed capabilities and low fees, SONIC supports near-instant cross-border payments.
* **DAO Governance:** SONIC tokens grant holders voting rights in the decentralised autonomous organisation (DAO) that governs the Sonic SVM network.

Question 3

Who created Sonic SVM (SONIC)?

Accepted Answer

Sonic SVM (SONIC) was developed by Mirror World Labs, a blockchain-focused company specialising in gaming and digital asset solutions. The founding team includes:

* Chris Zhu, Chief Executive Officer (CEO)
* Alan Zhu, Chief Product Officer (CPO)
* Jonathan Bakebwa, Chief Technology Officer (CTO)

Mirror World Labs has received significant funding to support the development of the Sonic SVM ecosystem. In June 2024, the company raised $12 million in a Series A funding round, following a $4 million seed round. Investors include prominent firms such as BITKRAFT, Galaxy Interactive, Big Brain Holdings, Sky9 Capital, and OKX Ventures.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	SONIC-USDT SONIC_USDT	whitebit	BB	0.02128USDT	2,06%	1.213.399,11SONIC	4.219	0.02085USDT	0.02218USDT
2	SONIC-USDT SONICUSDT_SPBL	bitget	BB	0.02132USDT	1,76%	1.067.299,34SONIC	675	0.02095USDT	0.02214USDT
3	SONIC-USDT SONICUSDT	bybit	A	0.02132USDT	1,96%	1.077.351,30SONIC	1.058	0.02091USDT	0.02218USDT
4	SONIC-USDT SONIC-USDT	okex	A	0.02133USDT	2,80%	611.969,24SONIC	314	0.02075USDT	0.02218USDT
5	SONIC-USDT SONIC_USDT	gateio	A	0.02137USDT	2,26%	243.707,00SONIC	274	0.02090USDT	0.02216USDT
6	SONIC-EUR SONIC_EUR	whitebit	BB	0.01904EUR	2,97%	76.214,57SONIC	169	0.01849EUR	0.01952EUR
7	SONIC-USDC SONIC-USDC	okex	A	0.02168USDC	2,07%	17.489,28SONIC	3	0.02124USDC	0.02168USDC
8	SONIC-USD SONICUSD	kraken	AA	0.02063USD	-0,53%	10.352,22SONIC	25	0.02074USD	0.02157USD
9	SONIC-EUR SONIC-EUR	okex	A	0.01983EUR	0,00%	0SONIC	0	0.01983EUR	0.01983EUR
10	SONIC-KRW KRW-SONIC	upbit	B	28,70KRW	1,77%	8.482.792,04SONIC	709	28,20KRW	29,70KRW
11	SONIC-USDT SONICUSDT	bitrue	D	0.02137USDT	2,25%	6.950.647,51SONIC	36.536	0.02090USDT	0.02214USDT
12	SONIC-USDT SONIC_USDT	bitunix	C	0.02136USDT	1,97%	3.296.609,67SONIC	5.774	0.02095USDT	0.02215USDT
13	SONIC-USDT SONIC24USDT	toobit	C	0.02137USDT	2,49%	2.939.438,40SONIC	4.930	0.02085USDT	0.02210USDT
14	SONIC-USDT SONICUSDT	mexc	C	0.02128USDT	1,67%	2.394.642,52SONIC	3.008	0.02093USDT	0.02221USDT
15	SONIC-USDT SONIC-USDT	bigone	-	0.02139USDT	0,75%	2.274.599,68SONIC	4.497	0.02123USDT	0.02223USDT
16	SONIC-USDT sonic_usdt	lbank	C	0.02133USDT	2,35%	1.629.236,64SONIC	8.275	0.02084USDT	0.02208USDT
17	SONIC-USDT SONIC-USDT	bingx	D	0.02135USDT	1,96%	1.324.353,44SONIC	4.301	0.02094USDT	0.02210USDT
18	SONIC-USDT SONIC_USDT	bydfi	-	0.02136USDT	2,05%	1.181.982,19SONIC	2.968	0.02093USDT	0.02221USDT
19	SONIC-USDT SONIC_USDT	coinw	-	0.02142USDT	1,96%	1.028.397,95SONIC	1.404	0.02101USDT	0.02196USDT
20	SONIC-MYR SONICMYR	luno	B	0.1669MYR	8,17%	359.395,00SONIC	52	0.1543MYR	0.1738MYR
21	SONIC-USD SONIC-USD	btse	-	0.02124USD	2,16%	198.907,18SONIC	3.325	0.02079USD	0.02219USD
22	SONIC-KRW SONIC_KRW	bithumbkorea	-	28,60KRW	1,67%	110.446,24SONIC	68	28,13KRW	29,34KRW
23	SONIC-THB THB_SONIC	bitkub	C	0.7392THB	3,73%	12.622,39SONIC	5	0.7126THB	0.8024THB
24	SONIC-USDT SONIC-USDT	btse	-	0.02125USDT	2,11%	9.224,86SONIC	1.024	0.02081USDT	0.02220USDT
25	SONIC-USDT USDT-SONIC	upbit	B	0.01901USDT	0,00%	0SONIC	0	0.01901USDT	0.01901USDT
26	SONIC-BTC BTC-SONIC	upbit	B	0.0₆2600BTC	0,00%	0SONIC	0	0.0₆2600BTC	0.0₆2600BTC
27	SONIC-KRW SONIC_KRW	coinone	C	27,00KRW	0,00%	0SONIC	0	27,00KRW	27,00KRW
28	SONIC-USDC SONIC-USDC	btse	-	0.02124USDC	2,26%	743,93SONIC	864	0.02077USDC	0.02219USDC
29	SONIC-USDC SONIC_USDC	backpack	C	0.05000USDC	0,00%	0SONIC	0	0.05000USDC	0.05000USDC