Understanding Sonic (S) Crypto: The Layer-1 Blockchain That Evolved from Fantom (FTM)
Fantom was once a top contender among Layer 1 blockchains, but it struggled to maintain its position amid shifting market dynamics and declining DeFi activity. In August 2024, the project rebranded to Sonic, introducing a new technological framework and a renewed focus on scalability and speed.
In this article, we'll explore what Sonic is, how it evolved from Fantom, and how you can gain exposure to its native S token on VALR.
What Is Sonic (S)?
Sonic (S), formerly known as Fantom (FTM), is a high-throughput Layer 1 (L1) blockchain that can achieve sub-second transaction finality. In September 2024, the project reached a record 720ms finality on its testnet, which made it the speediest L1 blockchain in the market right now.
The Layer 1 chain rebranded from Fantom to Sonic in August 2024, with the project's rebranded mainnet launching in December 2024. In addition to a name change, the rebranding also came with a new native token—S replacing the previous FTM coin—and a technology upgrade focusing on scalability and interoperability.
The rebranding was widely successful, especially considering Fantom's struggles throughout the last two years. After achieving an all-time high TVL at $7.93 billion on March 3, 2022, the blockchain has struggled to keep up with other chains, losing significant market share in the DeFi market. By February 1, 2024—roughly six months prior to its rebranding—Fantom's TVL dropped to $63.24 million, a 99.2% fall from its 2022 all-time high.
However, after the launch of the rebranded Sonic mainnet on December 18, 2024, the project's DeFi TVL jumped from $123.09 million to $971.41 million on March 31, 2025, a nearly 690% increase in a little more than three months. Ranking as the 12th largest blockchain in the sector, Sonic is currently accounting for 1.04% of the total value locked into decentralised finance protocols.
Exploring the Technology Behind Sonic
According to the project, Sonic is the fastest EVM-compatible L1 blockchain on the market. If considering transaction finality alone, which refers to the point at which a transaction becomes irreversible and guaranteed to remain on the blockchain, then this statement may potentially hold the truth. However, it is worth pointing out that Sui's 480ms average finality is lower than the 720ms measured on Sonic's testnet, but still faster than the finality of top Layer 1 chains like Solana, Avalanche, and Ethereum.
This sub-second transaction finality is one of the major technological innovations of Sonic's rebranding, which enables near-instant and irreversible transactions in the network. In addition to that, the high-throughput L1 blockchain is also compatible with the Ethereum Virtual Machine (EVM) and can process up to 10,000 transactions per second (TPS). While the latter makes it highly scalable—potentially more cost-effective than Fantom as well—, EVM compatibility provides an enhanced experience for developers who can deploy smart contracts and decentralised applications (dApps) more seamlessly in the network.
The rebranded native S token, which can be upgraded on a 1:1 basis from FTM via the project's upgrade portal, has a market cap of $1.34 billion as of March 31, with a $112.1 million trading volume. While the cryptocurrency has no max supply cap, its total supply stands at 3.17 billion S, with around 2.88 billion S being in circulation.
How to Trade Sonic on VALR
Sonic is a rebranded high-throughput Layer 1 blockchain that boasts sub-second transaction finality, achieving a record 720ms on its testnet in 2024. The rebrand introduced a new native token, scalability upgrades, and EVM compatibility, enabling up to 10,000 transactions per second.
Following its December 2024 mainnet launch, Sonic saw major growth in the DeFi sector, with its TVL surging nearly 690% by March 2025. Currently ranked 12th by TVL, Sonic is positioning itself as one of the fastest EVM-compatible blockchains in the market.
The good news is that you can buy Sonic (S) on VALR. You can gain exposure to Sonic's native S token on VALR in three ways:
Trade the S/USDT trading pair with up to 5x leverage on VALR's Spot market.
Use S as collateral to trade cryptocurrencies with leverage across VALR's Spot Margin and Futures markets.
Earn hourly yield by lending Sonic (S).
Ready to get started? Create a VALR account today!
How much is 1 Sonic (S) in South African rands (ZAR)?
As of today, 1 Sonic (S) = 0.000000 South African Rands (ZAR).
Market data last updated: --
Common ZAR to S Conversions
| Amount (ZAR) | Sonic (S) Amount as of MMM XX, YYYY at HH XM (GMT) |
|---|---|
| 5 | X.XXXXXX |
| 10 | X.XXXXXX |
| 25 | X.XXXXXX |
| 50 | X.XXXXXX |
| 100 | X.XXXXXX |
| 500 | X.XXXXXX |
| 1,000 | X.XXXXXX |
| 5,000 | X.XXXXXX |
| 10,000 | X.XXXXXX |
| 25,000 | X.XXXXXX |
| 50,000 | X.XXXXXX |
Frequently Asked Questions
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Sonic is a Layer 1 blockchain.
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Sonic features an EVM-compatible Layer 1 architecture that is high-throughput, achieves sub-second finality, and processes up to 10,000 TPS.
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FTM can be upgraded to S tokens on a 1:1 basis using the project's upgrade portal.
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Sonic is an EVM-compatible blockchain.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
