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	0.02113USDT	3.22%	4,955,519.13SONIC	19,266	0.02046USDT	0.02146USDT
2	SONIC-USDT SONICUSDT	bybit	A	0.02106USDT	2.73%	1,209,487.60SONIC	764	0.02050USDT	0.02139USDT
3	SONIC-USDT SONIC-USDT	okex	A	0.02100USDT	2.64%	683,387.17SONIC	343	0.02046USDT	0.02134USDT
4	SONIC-USDT SONICUSDT_SPBL	bitget	BB	0.02107USDT	3.20%	681,182.54SONIC	250	0.02041USDT	0.02145USDT
5	SONIC-EUR SONIC_EUR	whitebit	BB	0.01832EUR	3.44%	165,249.08SONIC	155	0.01771EUR	0.01864EUR
6	SONIC-USDT SONIC_USDT	gateio	A	0.02100USDT	4.07%	47,470.00SONIC	58	0.02018USDT	0.02146USDT
7	SONIC-USD SONICUSD	kraken	AA	0.02106USD	2.48%	17,022.24SONIC	10	0.02055USD	0.02150USD
8	SONIC-USDC SONIC-USDC	okex	A	0.02115USDC	3.47%	10,427.51SONIC	3	0.02044USDC	0.02130USDC
9	SONIC-USD SONIC-USD	okex	A	0.02029USD	0.00%	0SONIC	0	0.02029USD	0.02029USD
10	SONIC-EUR SONIC-EUR	okex	A	0.01878EUR	0.00%	0SONIC	0	0.01878EUR	0.01878EUR
11	SONIC-KRW KRW-SONIC	upbit	B	29.10KRW	3.19%	14,994,146.86SONIC	996	28.20KRW	29.60KRW
12	SONIC-USDT SONICUSDT	bitrue	D	0.02106USDT	2.68%	7,153,893.67SONIC	36,945	0.02051USDT	0.02138USDT
13	SONIC-USDT SONIC_USDT	bitunix	C	0.02107USDT	3.00%	3,403,230.83SONIC	5,745	0.02046USDT	0.02139USDT
14	SONIC-USDT SONIC24USDT	toobit	C	0.02109USDT	2.88%	2,910,520.13SONIC	4,850	0.02050USDT	0.02136USDT
15	SONIC-USDT SONICUSDT	mexc	C	0.02104USDT	2.63%	2,536,419.86SONIC	3,039	0.02050USDT	0.02147USDT
16	SONIC-USDT SONIC-USDT	bigone	-	0.02114USDT	3.68%	2,369,418.02SONIC	4,882	0.02038USDT	0.02149USDT
17	SONIC-USDT sonic_usdt	lbank	C	0.02102USDT	3.65%	1,765,605.58SONIC	8,428	0.02028USDT	0.02137USDT
18	SONIC-USDT SONIC_USDT	bydfi	-	0.02107USDT	2.78%	1,365,323.24SONIC	3,304	0.02050USDT	0.02147USDT
19	SONIC-USDT SONIC-USDT	bingx	D	0.02112USDT	3.18%	1,374,799.20SONIC	4,376	0.02046USDT	0.02142USDT
20	SONIC-USDT SONIC_USDT	coinw	-	0.02104USDT	3.39%	719,840.48SONIC	1,359	0.02035USDT	0.02130USDT
21	SONIC-KRW SONIC_KRW	bithumbkorea	-	29.05KRW	3.75%	449,531.21SONIC	203	28.00KRW	29.40KRW
22	SONIC-MYR SONICMYR	luno	B	0.1159MYR	9.55%	129,350.00SONIC	29	0.1058MYR	0.1248MYR
23	SONIC-USD SONIC-USD	btse	-	0.02097USD	1.80%	47,356.90SONIC	2,612	0.02060USD	0.02151USD
24	SONIC-BTC BTC-SONIC	upbit	B	0.0₆2700BTC	0.00%	0SONIC	0	0.0₆2700BTC	0.0₆2700BTC
25	SONIC-USDT SONICUSDT	coinex	C	0.02095USDT	2.81%	31,312.35SONIC	1,511	0.02038USDT	0.02122USDT
26	SONIC-USDT SONIC-USDT	btse	-	0.02114USDT	2.62%	9,294.70SONIC	1,201	0.02060USDT	0.02152USDT
27	SONIC-KRW SONIC_KRW	coinone	C	28.44KRW	0.00%	0SONIC	0	28.44KRW	28.44KRW
28	SONIC-THB THB_SONIC	bitkub	C	0.6560THB	-3.24%	1,840.75SONIC	2	0.6780THB	0.7770THB
29	SONIC-USDC SONIC-USDC	btse	-	0.02114USDC	3.42%	767.04SONIC	966	0.02044USDC	0.02151USDC
30	SONIC-USDC SONIC_USDC	backpack	C	0.05000USDC	0.00%	0SONIC	0	0.05000USDC	0.05000USDC
31	SONIC-USDT USDT-SONIC	upbit	B	0.02074USDT	0.00%	0SONIC	0	0.02074USDT	0.02074USDT