Coin columns · Mainnet Province
Sonic (S): The Fast EVM-Compatible Layer 1 That Replaced Fantom
Mainnet in December 2024, FTM swapped one-to-one for S
Sonic is an Ethereum-compatible layer-1 blockchain from the team behind Fantom, promoting 10,000 transactions per second and sub-second finality. S is its base coin, which replaced Fantom’s FTM at one-to-one.
1. What it is and who built it
Sonic is a layer-1 (independent base blockchain) built by the team behind Fantom. Its developer, Sonic Labs, announced the launch of the Sonic mainnet, the live network, in December 2024. It is EVM-compatible (compatible with the Ethereum Virtual Machine), so apps and wallets built for Ethereum can move over with little change.
S is Sonic’s base coin. Holders of Fantom’s FTM could swap FTM for S one-to-one through the MySonic upgrade portal, freely in both directions for the first 90 days after launch and only from FTM to S afterwards. On the Crypto Nation map, S is the city-hall tower of Mainnet Province, the area for standalone layer-1 chains, because it is the chain’s own base coin.
2. How it works
Sonic is a proof-of-stake chain in which validators (participants who check transactions) lock up S to confirm them. Sonic Labs promotes 10,000 transactions per second and sub-second finality, but these are the developer’s figures. The Sonic Gateway bridge to Ethereum is described as including a fail-safe that lets users recover assets on Ethereum if the Gateway is down for 14 days.
Fee Monetization (FeeM) lets app developers receive up to 90 percent of the network fees their apps generate, designed to draw more builders as apps are used. At launch an airdrop (free distribution) rewarded users with Sonic Points and developers with Sonic Gems.
3. Uses and milestones
S is used to pay fees and to stake, and Ethereum-compatible apps run on the network. Sonic is presented as the successor to Fantom, whose FTM coin converts to S. Because it is EVM-compatible, Ethereum developer tools work as they are, which Sonic cites as an advantage for moving existing apps over.
Sonic Labs announced the mainnet launch in December 2024, and the FTM-to-S conversion began. On 19 June 2026 it said Andre Cronje, Michael Kong and David Richardson were resigning from its board, and Matt Visser was named CEO and Kosta Kourkoumelis COO. Michael Kong had been CEO at launch.
4. Things to know
Around the leadership change, Sonic’s token and on-chain activity were reported to have fallen sharply over the past year. The chain’s standing depends on how many users and developers stay, in competition with Ethereum, its extension networks and Solana. Little detail has been published on the new leadership’s plans, so later announcements are worth watching.
Reward schemes such as FeeM are company policy and can change, and activity driven by incentives may shrink when rewards fall. Bridges to Ethereum and apps’ smart contracts can be targets of hacks and bugs. Speed figures come from the developer and may differ in real use, and many write-ups about the chain are promotional.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.