Sonic is planning a token generation event (TGE) to coincide with its impending mainnet launch. The TGE is taking place today, but the full mainnet launch won’t come until February 10.
This news comes from an exclusive press release shared with BeInCrypto.
Sonic Creates TGE For Mainnet Launch
Sonic, a Solana-based gaming virtual machine (SVM), has been teasing both this TGE and mainnet launch for some time. The company rebranded from Fantom in August and wished to distinguish Sonic with new products.
In September, its testnet went live, and the firm repeatedly hyped the full launch in the ensuing months. Finally, the mainnet launch has an official date.
“The launch of the SONIC token will raise awareness of the network’s impending launch and onboard more users to its growing ecosystem. Sonic is well positioned to deploy its mainnet and realize its goal of mainstreaming access to web3 services,” the press release claimed.
With Today’s token launch, SONIC is now listed on several centralized exchanges, including OKX, Bybit, KuCoin and MEXC. According to CoinMarketCap data, 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 firm announced a large token airdrop for TikTok users, as Sonic onboarded 2 million users through this app. GameFi is an important component of the company’s operations, and this airdrop will support Sonic’s goal to achieve extensive adoption of its platform.
However, Sonic does not exist as a pure GameFi company, and its TGE announcement seeks to play up its growing network capacities. For example, in late December, the firm collaborated to build a cross-chain AI Agent hub. This mainnet launch will incorporate several new features that are totally distinct from GameFi.
Some of those features will include the launch of a DEX and a native RPC to optimize network reliability and scalability. Ultimately, it’s unclear how well these incentives or new features will help attract new interest.
Although Sonic performed well in the generalized crypto bull market, it has been steadily losing market value for several weeks. The mainnet launch is more than a month away, and it’s impossible to say how much Sonic’s publicity campaign will change its fortunes.
