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Sonic (S)

What is Sonic?​

Here are 5 key points about the Sonic Network:

  • Sonic has a throughput of over 10,000 TPS, accommodating large-scale applications and user bases.

  • The Sonic Network ensures transactions are confirmed in less than a second, providing a seamless user experience.

  • The Sonic Gateway offers a decentralized bridge to Ethereum, providing access to vast liquidity with a built-in fail-safe mechanism for asset protection.

  • Sonic has EVM compatibility and support for popular smart contract languages make it accessible for developers transitioning from other platforms.

  • Sonic is migrating from the Sonic Opera chain and its FTM token. Users holding FTM can upgrade to S on a 1:1 basis.

The Role of S in the Sonic Ecosystem​

The native token, S, serves multiple functions within the Sonic ecosystem:

  • Transaction Fees: Used to pay for transaction fees on the network.

  • Staking and Validators: Required for staking and running validator nodes, contributing to network security and consensus.

  • Governance: Enables participation in governance decisions, allowing holders to have a say in network upgrades and policies.

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Learn more about Sonic by reading the Gem Wallet Learn article:
What Is Sonic?

Sonic on Gem Wallet​

Gem Wallet has the following features enabled for Sonic:

  • Bridge Fantom (FTM) to Sonic (S) via WalletConnect.
  • Store Sonic securely.
  • Send and Receive Sonic tokens natively.

Sonic on GemWallet Sonic on GemWallet 2

What are ERC20 tokens on Sonic?​

  • ERC20 tokens on the Sonic blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Sonic ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Sonic's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Sonic incur significantly lower fees compared to those on the Ethereum network.

How to Get Sonic (S)?​

Here are some ways to acquire some Arbitrum Ethereum (ETH):

  • Bridge Fantom to Sonic directly on the Gem Wallet app via WalletConnect.
  • Receive Sonic with the unique Sonic address on the Gem Wallet app.

Enable Sonic on GemWallet Receive Sonic on GemWallet

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  • Manually enable Sonic by tapping on the Manage Token List.
  • Send only Sonic (S) on the address.

Transaction Fees on Sonic​

The fees on Sonic are summarized as follows:

  • Sonic Network is designed to offer minimal transaction fees, making it an affordable blockchain for both developers and users.

  • Developers can earn up to 90% of the fees generated by their applications through Sonic's Fee Monetization program, incentivizing innovation and adoption.

  • The network ensures a transparent and consistent fee model, allowing developers and users to plan their operations without unexpected costs.

Send Sonic on GemWallet Sonic Fees on GemWallet

How to Check Sonic (S) Balance?​

Gem Wallet app connects to the Sonic Network to show the S balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on SonicScan.

View S Balance Screen S Transaction Screen

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SonicScan is the default Sonic explorer of Gem Wallet. You can manually check balances and transactions by going to SonicScan and search for your S address.

View Balance on SonicScan View Transaction on SonicScan

Why Choose Gem Wallet for Sonic?​

  • User-Friendly Design: Gem Wallet’s intuitive interface makes it easy for beginners and experts alike to manage their S tokens.
  • Robust Security: With self-custody features, users retain complete control over their assets, ensuring maximum security.
  • Ongoing Innovation: Gem Wallet is continuously updated with new features to enhance the user experience and expand functionality.

Conclusion

Sonic Network represents a significant advancement in blockchain technology, offering a high-performance, developer-friendly platform with robust incentives and security features. Gem Wallet's support for EVM-compatible chains allows the integration of Sonic to its ever growing list of supported assets, making it a compelling choice for developers and users seeking efficiency and flexibility in the blockchain space.