Fantom was one of the hottest projects of the last crypto bull run, soaring 2,126% at one point.
But a lot has changed for FTM crypto since then, with the latest being the forthcoming launch of their new super-fast Blockchain, Sonic.
That means upon launch in December 2024, Fantom and everything about it would cease to exist and would be migrated to the new later one.
What else would change when this migration occurs, and how does it affect FTM price prediction? Read on to find out!
What Is Fantom?
Fantom is a high-performance, scalable, and secure blockchain platform designed to support decentralized applications (dApps) and enterprise solutions.
Launched in 2018, it was built on the Opera Chain with a Directed Acyclic Graph (DAG)-based consensus mechanism known as Lachesis, which enables near-instant transaction finality and low fees.
Fantom is particularly known for its focus on speed, interoperability, and flexibility. It provides developers with tools for creating and integrating smart contracts.
The platform supports DeFi applications, NFTs, and a variety of Web3 use cases, making it a versatile choice in the blockchain ecosystem.
Fantom’s native token, FTM, is used for transactions, staking, and governance, contributing to the platform’s decentralized decision-making process. Its ecosystem has grown rapidly, attracting developers and users seeking efficient and cost-effective blockchain solutions.
What Is FTM?
FTM is the native cryptocurrency of the Fantom blockchain. It plays a crucial role in the ecosystem, serving as a medium for paying transaction fees, securing the network through staking, and enabling governance by allowing holders to vote on network proposals.
With a total supply capped at 3.175 billion tokens, FTM crypto is also used in cross-chain bridges and liquidity pools, promoting interoperability across blockchains like Ethereum and Binance Smart Chain.
Its utility extends to powering smart contracts and incentivizing ecosystem growth.
Fantom’s innovative Lachesis consensus mechanism ensures fast (1-2 seconds) transactions and low fees, making FTM an attractive cryptocurrency for developers and users in the blockchain space.
What Is Sonic?
Sonic is Fantom’s next-generation blockchain, rebranded and evolved from the Fantom Opera chain.
This new Layer-1 network, launching its mainnet in December 2024, emphasizes enhanced scalability, efficiency, and user accessibility.
Sonic introduces significant advancements, including a throughput of up to 10,000 transactions per second and sub-second transaction finality, addressing the limitations of its predecessor and competing blockchains.
What Is S Crypto?
The Sonic “S” token is Sonic’s native token.
It replaces the FTM token from the Fantom Opera chain, maintaining much of its predecessor’s utility while introducing updated tokenomics to support Sonic’s growth and user adoption.
Just like FTM, the S sonic cryptocurrency will be used for transactions, staking, governance, and incentivizing ecosystem development.
Upon launch in December 2024, holders will exchange their FTM for S on a 1:1 basis.
Why Was the Upgrade From Fantom to Sonic Necessary?
The upgrade from Fantom’s Opera to Sonic was driven by the need to address several key challenges that hindered the scalability, efficiency, and competitiveness of the Fantom ecosystem.
Michael Kong and his team aimed to resolve the following issues:
- Scalability Limitations: Fantom Opera, while efficient, capped out at 2,000 transactions per second (TPS). Sonic boosts this to 10,000 TPS, ensuring it can handle greater demand for decentralized applications (dApps) and DeFi protocols.
- Developer Incentives: Gas fees on Fantom were minimal compared to other EVM compatible chains. But it lacked a mechanism to directly incentivize developers. Hence, Sonic introduces gas fee rebates, where up to 90% of fees are returned to developers, encouraging more projects to build on the network.
- Interoperability and Cross-Chain Bridging: Fantom Opera lacked native support for trustless bridges. On the other hand, Sonic incorporates a decentralized bridge for seamless and secure cross-chain interactions with Ethereum and other blockchains.
- Ecosystem Growth and Tokenomics: To foster ecosystem expansion, Sonic revamped its tokenomics, including a 1:1 token swap and additional incentives like airdrops and funding programs for developers.
These enhancements reflect Sonic’s vision of becoming a highly scalable, developer-friendly, and efficient blockchain ecosystem tailored to the future of Web3.
Who Is the Team Behind Sonic?
While there are several people behind the success of Sonic, the two most influential names on the team are:
Michael Kong, Sonic’s CEO, CIO, and Founder
Michael Kong is a popular figure in the crypto community whose opinion matters a lot to traders.
He has been deeply involved in shaping Sonic’s focus on scalability, transaction efficiency, and user experience.
His academic background in smart contract verification and years of industry experience has positioned him as a thought leader in blockchain innovation.
Andre Cronje, Sonic’s CTO and Co-Founder
Known as the “DeFi God,” Andre Cronje is another prominent figure in decentralized finance.
He joined the Sonic team after the project faced technical setbacks, bringing his deep expertise in blockchain systems and smart contracts.
Before becoming Sonic’s CTO, Cronje was the founder of Yearn Finance and built a great reputation for excelling in seemingly tough spaces.
Sonic (Fantom) Meme Coins
One of the main themes of this bull run is the launch of meme coins on every major ecosystem and network.
As such, several Fantom believers joined the trend and launched several meme coins in solidarity of the then-forthcoming Sonic launch and other events in the ecosystem.
Some of the top meme coins on Sonic chain are:
fSONIC
This Sonic meme coin is nothing but a wild cat with the speed of the popular Sonic hedgehog.
With a blue theme color, fSonic drops regular fun pictures and videos that keep token holders begging for more, even as they pray that their bags go to the moon.
sGOAT (The Sonic Goat)
Backed by a large Fantom whale known on X as @theFantomGoat, $sGOAT is designed to revitalize activity on the Fantom network.
It combines humor and community-driven development with an aggressive marketing strategy, offering unique tokenomics such as daily airdrops and liquidity provisions.
The strategy was so effective that at some point, sGOAT became the number one meme coin on the Sonic chain before it was toppled by GOGLZ.
GOGLZ (Goggles)
$GOGLZ received good publicity from top members of the X crypto community, including industry leaders like Ansem (@blknoiz06).
The general idea behind this Sonic meme coin is not far-fetched from the actual meaning of goggles—a pair of glasses.
Hence, as a form of drawing Ansem’s influence, the team behind the project sent the meme Lord a pair of Gucci glasses.
SODA (SonicSoda)
Soda was created as a meme coin in commemoration of Sonic’s Soda events. Although not as popular as the others, $SODA has been one of the most active meme projects on the Sonic ecosystem.
The team is almost everywhere, commenting on various Sonic-themed posts.
With some Sonic price predictions pointed towards $60, holders are probably hoping that this could be the next Doge.
Frequently Asked Questions (FAQs)
1. When Will Sonic Launch?
Sonic launched in December 2024.
2. What Is the Speed of Sonic?
The speed of Sonic is 10,000 transactions per second
3. What Is Sonic ($S) Price Prediction
No one knows for sure the accurate Sonic price prediction for 2025, 2030, or any other year. However, through technical analysis, experts speculate that FTM or Sonic crypto token will touch the $3.39 price level before heading to its previous all time high.
