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Sonic plans to hold a Token release event (TGE) to coincide with the upcoming mainnet launch. TGE takes place today, but the official launch of the mainnet will not be completed until February 10.
This information is shared via an exclusive press release with TinTucBitcoin.
Sonic Hosts TGE For Mainnet Launch Event
Sonic, a Solana-based gaming virtual machine (SVM), has been talking about TGE and its mainnet launch for a while now. The company rebranded from Fantom in August and wanted to differentiate Sonic from its new products.
In September, the company’s testnet went live, and Sonic has continuously promoted the official launch event in recent months. Finally, the mainnet launch date has been set.
“The release of the SONIC Token will increase awareness of the upcoming network launch and help add more users to Sonic’s growing ecosystem. Sonic is well-positioned to deploy mainnet and realize the goal of popularizing web3 services,” the press release stated.
With today’s Token issuance, SONIC is now listed on several centralized exchanges, including OKX, Bybit, KuCoin and MEXC. Data from CoinMarketCap shows The largest trading volume is currently on MEXC after four hours of launch. It is also available on several Solana-based DEXs, including Raydium and Meteora.
In late December, the company announced a large Token airdrop for TikTok users, as Sonic added 2 million users via the app. GameFi is a key part of the company’s operations, and this airdrop will support Sonic’s goal of achieving widespread adoption of the platform.
However, Sonic is much more than just a GameFi company, and its TGE announcement emphasizes its ability to grow its network. For example, in late December, the company collaborated to build a multi-chain AI Agent hub. This mainnet launch will include several new features that are completely different from GameFi.
Some of those features will include launching a native DEX and RPC to optimize network reliability and scalability. However, it’s unclear whether new incentives or features will help attract new interest.
Although Sonic has performed well during the general cryptocurrency bull market, it has been losing market value over the past few weeks. The mainnet launch is still more than a month away and there’s no telling how Sonic’s promotional campaign will change its fortunes.
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