Sonic SVM chain on Solana introduces a new fire mechanism to stimulate the purchasing pressure on its token and liquidity.
Solana-based (SOL) Sonic SVM (not to be confused with Sonic, formerly Fantom) brings an important change in his tokenomics. On Monday, May 19, in a press release shared with crypto.news, Sonic SVM announced a revision in his token fire model. According to the new mechanism, 50% of all transaction costs will be used to buy sonic tokens on the open market.
Sonic SVM is a Solana -based blockchain built using the Solana Virtual Machine. It acts as a kind of Layer 2 network, aimed at generating user attention in apps.
Earlier, these sonic SVM -Tokens were sent to a fuel address, which reduced the offer to support the price indirectly. Now the updated Burn model will generate direct purchasing pressure on Sonic, who, according to Chris Zhu, CEO at Sonic SVM, can have a more direct effect on his price and batentook holders.
“This redesigned mechanism represents a fundamental shift in how we think about the long -term token value. Instead of just burning tokens, we implement a strategic approach that creates strategic demand during the construction of liquidity of the protocol. This supports our growing Holders Syosystem,” “” “” “” Sonic SVM support.
Sonic SVM to use costs for stimulating liquidity
The upcoming update also contains changes in the way Sonic SVM costs work. It is remarkable that Solana -Tokens, who represent a share of 12.5% of the sonic reimbursements, are deployed on the Solana Meminnet and generate stretching rewards.
These rewards go to users who keep established Sonic -Tokens and contribute to liquidity pools for Sonic’s SVM chain. Alan Zhu, co-founder and main product officer at Sonic, noted that the system was designed to scale liquidity in addition to network use.
“While we continue to scale up our infrastructure to support millions of users on our gaming and social platforms, this value build -up mechanism ensures that our token economy grows together with network use. The more the network is used, the stronger the purchasing pressure and deeper the liquidity,” Alan Zhu, Sonic.
