Sonic SVM (SONIC) Price, Charts & Market Data

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.

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.