Introducing Staking for Sonic (S): Empowering the Future of Decentralized Finance

Ndax is thrilled to announce the addition of Sonic (S) to our staking suite, offering Canadian crypto enthusiasts a seamless way to earn rewards while supporting the growth of the Sonic ecosystem. As a leading crypto platform in Canada, we are committed to providing our users with access to innovative and high-performance blockchain projects.

Sonic is a high-speed Layer-1 blockchain designed to power the next generation of decentralized applications (dApps), including DeFi protocols, GameFi platforms, and NFT marketplaces. With its unique Solana Virtual Machine (SVM) compatibility, Sonic offers developers a robust environment to build scalable and efficient applications. 

Sonic Blockchain is revolutionizing decentralized finance by combining the power of both the Solana Virtual Machine (SVM) and Ethereum Virtual Machine (EVM) environments. This dual compatibility enables Sonic to deliver a high-performance foundation for decentralized applications (dApps), supporting high throughput and ultra-low latency transactions-ideal for DeFi protocols, GameFi platforms, and NFT marketplaces.

With SVM integration, Sonic achieves exceptional scalability and speed, processing thousands of transactions per second with sub-second finality. Its EVM compatibility allows developers to deploy existing Ethereum-based applications directly onto Sonic, facilitating seamless cross-chain interoperability and easy migration.

Sonic’s architecture also features a unique fee-sharing model, rewarding developers based on their dApp’s usage and performance. This approach fosters ecosystem growth and incentivizes innovation without compromising network efficiency. By combining Solana’s advanced infrastructure with Ethereum’s extensive developer ecosystem and flexibility, Sonic is already establishing itself as a powerful platform in decentralized finance—providing tangible tools and opportunities for users, developers, and the broader Web3 community. 

S tokens serve multiple purposes within the Sonic network, including transaction fee payments, staking, validator operations, and governance participation. With a total supply of 3.175 billion tokens, Sonic has implemented a deflationary model to ensure long-term sustainability. This model incorporates mechanisms such as token burns and airdrop rewards to gradually reduce the total supply over time.

A key component of this deflationary strategy is the innovative airdrop burn mechanism. Approximately 6% of the total supply—about 190 million S tokens—will be allocated to an airdrop program. Recipients will receive 25% of their allocated tokens immediately, with the remaining 75% vested over a 9-month period. If users choose to claim their vested tokens early, a portion of these tokens will be burned, with the burn rate decreasing linearly over the 9 months. This approach not only rewards active participation but also reduces the potential circulating supply, countering what could have been a higher number of circulating tokens 

Sonic staking allows users to earn rewards while contributing to the security and decentralization of the network. By staking S tokens on Ndax with reputable validators, users can earn up to 3.8% annual percentage yield (APY). Validators who help secure the network and process transactions also receive rewards, which are then distributed to their delegators. There is a 14-day unbonding period when withdrawing staked tokens, during which no rewards are accrued. To stake S tokens, visit the Ndax Staking Suite and follow the straightforward staking process, making it easy to participate in securing and growing the Sonic ecosystem. 

By staking S tokens with Ndax, users benefit from:

• Competitive APY: Earn attractive rewards by participating in Sonic staking.
• Security: Ndax provides a secure platform for staking, ensuring the safety of your assets.
• User-Friendly Interface: Easily manage your staking activities through Ndax's intuitive interface.
• Support for Sonic Ecosystem: Contribute to the growth and development of the Sonic blockchain. 

Getting started with Sonic staking on Ndax is simple:

1. Log in to your Ndax account.
2. Deposit S tokens into your Ndax wallet.
3. Navigate to the staking section and select Sonic (S).
4. Specify the amount of S tokens to stake.
5. Confirm and start earning rewards.

To get started trading or staking Sonic (S), log in today or visit the What is Sonic (S) blog on Ndax to learn more.  

Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.