Sonic SVM on Solana Unveils Token Burn Program to Boost Value
Sonic SVM, the first SVM chain extension on Solana, has launched a new SONIC burn program to boost token value.
Instead of direct burning, 50% of transaction fees will buy SONIC tokens from the market and lock them in a vault with a 24-month vesting schedule. Reducing circulating supply and sustaining buy pressure. Additionally, SOL fees will be staked on Solana, with rewards paired with monthly vested SONIC to create liquidity pools.
This approach enhances liquidity, supports the Solana ecosystem. And incentivizes liquidity providers, fueling growth for Sonic SVM’s gaming and app platforms.
Clever Robot News Desk 22th May 2025
