Sonic vs Monad: >10,000 TPS EVM and a non-VC token
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Bullish call$S−95%since listing, moved against the call · 1 more callHow it played out ↓31-part thread on Sonic, a >10,000 TPS EVM chain with an almost fully diluted token, set against VC-heavy low float launches. Covers the 190.5M S airdrop, Sonic Gems, 3.5% block rewards, gas monetization and Andre Cronje as CTO.
Key claims
190.5M S airdropped, Sonic Gems 37.5% of it
Binance listings Dec 2023 to May 2024 averaged over $4.2B FDV and -18% by May
50% of fees burned on non-GasM apps
Sonic scales the EVM to >10000 TPS and frontruns Monad
$S is also not a VC-backed low float / high FDV token
$S has no predatory VC tokenomics, an (almost) fully diluted supply and allocates >$300M to airdrop & ecosystem
🧵 𝐨𝐧 𝐨𝐮𝐫 𝐜𝐡𝐚𝐧𝐜𝐞 𝐭𝐨 𝐛𝐞𝐚𝐭 𝐭𝐡𝐞 𝐕𝐂𝐬 t.co/AVhqA8ANiJ
1/ In the past years, 100s of millions in early-stage funding was raised in crypto.
The never-ending appetite for investments of the VC firms has led to strongly VC-dominated cap tables, resulting in what has become known as low float/high FDV tokens (see visual).
2/ But while the VC support can be beneficial (network, marketing, liquidity, etc.), we have to keep in mind, that these 𝗩𝗖𝘀 𝗮𝗿𝗲 𝗻𝗼𝘁 𝘆𝗼𝘂𝗿 𝗳𝗿𝗶𝗲𝗻𝗱𝘀.
They are profit-oriented business that aim to buy low (in private rounds at valuations you never see) and sell high (probably to you).
3/ The launch valuations of most VC-backed tokens (when you get to buy in) are already at 5x, 10x or maybe 20x of what early investors paid.
The VC sell pressure in combination with ppl dumping the airdrops (mostly marketing stunts) and often highly inflationary tokenomics, means one thing: down only.
The data below from @Binance listings between Dec 2023 and May 2024 impressively proves this.
Needless to say, that most of these look even worse today.
> Visual: @tradetheflow_
4/ The average FDV on Binance listing date is over $4.2B, with some even reaching a crazy FDV of over $11B.
Often those projects don't even have real users or a strong community behind it.
The average performance of -18% already back in May was evidence to this already, with the number today probably sitting closer to a negative 50-80%.
> Visual: @tradetheflow_
5/ 𝐒𝐨 𝐰𝐡𝐲 𝐚𝐦 𝐈 𝐬𝐚𝐲𝐢𝐧𝐠 𝐒𝐨𝐧𝐢𝐜 > 𝐌𝐨𝐧𝐚𝐝?
Let's have a look at @monad_xyz?
𝗧𝗲𝗰𝗵: Scaling EVM to >10k TPS
𝗧𝗼𝗸𝗲𝗻: Another VC-dominated low float / high FDV token with centralized ownership structures.
@0xSonicLabs?
𝗧𝗲𝗰𝗵: Scaling EVM to >10k TPS
𝗧𝗼𝗸𝗲𝗻: Almost fully diluted supply, all investor unlocks done and decentralized ownership structure.
Same thing, but also very different.
The token is a product separate from the tech. The tech can be great, if the token product (a.k.a. tokenomics) is badly designed, no one will buy the token.
$S has a huge advantage on this front.
6/ 𝐒𝐨 𝐢𝐟 $𝐒 𝐢𝐬 𝐜𝐨𝐨𝐥, 𝐖𝐓𝐅 𝐢𝐬 𝐒𝐨𝐧𝐢𝐜?
In short, @0xSonicLabs is a high-performance EVM blockchain with a secure gateway to Ethereum that can handle >10,000 TPS at one-second finality.
It runs the Fantom Virtual Machine (FVM) which is EVM-compatible but orders of magnitude faster.
7/ With parallelization being added in a few months, the throughput of the network will further increase.
Utilizing a new secure bridge architecture, a.k.a. Sonic Gateway, the Sonic chain will also provide users and dApps with significantly improved security compared to the existing Fantom Opera network.
While Fantom Opera will continue to operate, consider Sonic as the next (unstoppable) step in Fantom's evolution.
8/ Interestingly, @michaelfkong described the Sonic chain's role in the new new @0xSonicLabs ecosystem as a "best-in-class shared (decentralized) sequencer for L1 and L2 chains, capable of 180M daily transactions at sub-second finality".
This likely means that Sonic-based (app-chain) L2s are part of the strategy.
Sonic is 𝗺𝗼𝗱𝘂𝗹𝗮𝗿. 🧱 ✨
x.com/0xSonicLabs/status/1772275308105769312
9/ 𝐁𝐮𝐭 𝐛𝐚𝐜𝐤 𝐭𝐨 $𝐒.
$S is the native token of the Sonic network and is used for:
☞ 𝘗𝘢𝘺𝘪𝘯𝘨 𝘧𝘰𝘳 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯 𝘧𝘦𝘦𝘴
☞ 𝘙𝘶𝘯𝘯𝘪𝘯𝘨 𝘷𝘢𝘭𝘪𝘥𝘢𝘵𝘰𝘳𝘴
☞ 𝘋𝘦𝘭𝘦𝘨𝘢𝘵𝘦𝘥 𝘚𝘵𝘢𝘬𝘪𝘯𝘨
☞ 𝘎𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦
Additionally, the $S token will be used with the upcoming Gateway to Ethereum, with more details to be announced soon.
Upon the launch of the new Sonic chain, $FTM holders will be able to exchange 1 $FTM for 1 $S.
10/ 𝐖𝐡𝐚𝐭 𝐚𝐛𝐨𝐮𝐭 𝐚𝐢𝐫𝐝𝐫𝐨𝐩𝐬? 🪂
@0xSonicLabs plans to airdrop 190,500,000 $S tokens to incentivize both Opera users and new participants on the Sonic chain.
This initiative aims to reward Opera users for their loyalty while attracting new users to Sonic, focusing on total value locked (TVL), transactions, and ecosystem growth.
11/ The $S airdrop incentives for Sonic may include rewards for:
☞ 𝘓𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘳𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘷𝘢𝘳𝘪𝘰𝘶𝘴 𝘚𝘰𝘯𝘪𝘤 𝘢𝘱𝘱𝘴
☞ 𝘚𝘵𝘢𝘬𝘪𝘯𝘨 𝘢𝘯𝘥 𝘷𝘢𝘭𝘪𝘥𝘢𝘵𝘪𝘯𝘨 𝘰𝘯 𝘚𝘰𝘯𝘪𝘤
☞ 𝘓𝘪𝘲𝘶𝘪𝘥 𝘴𝘵𝘢𝘬𝘦𝘥 𝘵𝘰𝘬𝘦𝘯 (𝘓𝘚𝘛) 𝘩𝘰𝘭𝘥𝘦𝘳𝘴
☞ 𝘏𝘪𝘨𝘩 𝘨𝘢𝘴-𝘤𝘰𝘯𝘴𝘶𝘮𝘪𝘯𝘨 𝘤𝘰𝘯𝘵𝘳𝘢𝘤𝘵 𝘥𝘦𝘱𝘭𝘰𝘺𝘦𝘳𝘴
☞ 𝘗𝘢𝘳𝘵𝘪𝘤𝘪𝘱𝘢𝘯𝘵𝘴 𝘪𝘯 𝘢𝘶𝘥𝘪𝘦𝘯𝘤𝘦 𝘢𝘤𝘵𝘪𝘷𝘢𝘵𝘪𝘰𝘯 𝘤𝘢𝘮𝘱𝘢𝘪𝘨𝘯𝘴 𝘢𝘯𝘥 𝘲𝘶𝘦𝘴𝘵𝘴
☞ 𝘎𝘦𝘯𝘦𝘳𝘢𝘭 𝘚𝘰𝘯𝘪𝘤 𝘱𝘳𝘰𝘵𝘰𝘤𝘰𝘭 𝘶𝘴𝘢𝘨𝘦 𝘢𝘯𝘥 𝘱𝘢𝘳𝘵𝘪𝘤𝘪𝘱𝘢𝘵𝘪𝘰𝘯
☞ 𝘜𝘴𝘦𝘳𝘴 𝘸𝘩𝘰 𝘣𝘳𝘪𝘥𝘨𝘦 𝘧𝘶𝘯𝘥𝘴 𝘵𝘰 𝘚𝘰𝘯𝘪𝘤
12/ Key components of the airdrop are Sonic Gems and the Sonic Boom bounty program.
Sonic Gems, which account for 37.5% of the total airdrop, are points that can be earned and distributed by projects to incentivize user activity.
13/ The Sonic Boom program is a developer competition that allocates Sonic Gems as bounties to up to 30 winning projects across various categories.
Projects can distribute these Gems to users as rewards for engaging with their apps.
x.com/0xSonicLabs/status/1825925910194958702
14/ The competition lending, NFTs, tooling, payments, yield, stablecoins, gaming, community movements, exchanges, DePIN, and AI.
It will recognize up to 10 winners in three tiers:
☞ 𝘌𝘮𝘦𝘳𝘢𝘭𝘥: 𝘭𝘢𝘳𝘨𝘦 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘎𝘦𝘮𝘴
☞ 𝘚𝘢𝘱𝘱𝘩𝘪𝘳𝘦: 𝘴𝘶𝘣𝘴𝘵𝘢𝘯𝘵𝘪𝘢𝘭 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘎𝘦𝘮𝘴
☞ 𝘙𝘶𝘣𝘺: 𝘮𝘰𝘥𝘦𝘳𝘢𝘵𝘦 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘎𝘦𝘮𝘴
15/ There will also be a massive ecosystem growth initiative.
Six months after Sonic launches, we will mint additional $S tokens to:
☞ 𝘐𝘯𝘤𝘳𝘦𝘢𝘴𝘦 $𝘚 𝘢𝘥𝘰𝘱𝘵𝘪𝘰𝘯
☞ 𝘎𝘳𝘰𝘸 𝘵𝘩𝘦 𝘵𝘦𝘢𝘮 𝘢𝘯𝘥 𝘴𝘤𝘢𝘭𝘦 𝘰𝘱𝘦𝘳𝘢𝘵𝘪𝘰𝘯𝘴
☞ 𝘐𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵 𝘳𝘰𝘣𝘶𝘴𝘵 𝘮𝘢𝘳𝘬𝘦𝘵𝘪𝘯𝘨 & 𝘪𝘯𝘤𝘦𝘯𝘵𝘪𝘷𝘦 𝘤𝘢𝘮𝘱𝘢𝘪𝘨𝘯𝘴
☞ 𝘗𝘳𝘰𝘨𝘳𝘢𝘮𝘴 𝘪𝘯 𝘤𝘰𝘭𝘭𝘢𝘣𝘰𝘳𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 200𝘔 $𝘍𝘛𝘔 𝘚𝘰𝘯𝘪𝘤 𝘓𝘢𝘣𝘴 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘰𝘳 𝘍𝘶𝘯𝘥*
* ) 𝗧𝗵𝗶𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝘀:
✪ 𝗦𝗼𝗻𝗶𝗰 𝗦𝗽𝗮𝗿𝗸: Foster innovation among early founders and attract the next wave of builders to Sonic.
✪ 𝗦𝗼𝗻𝗶𝗰 𝗨𝗻𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆: Provide resources, knowledge, and guidance to students at select colleges and universities to develop the next generation of dApps on Sonic.
16/ To support this initiative, 1.5% of $S (47,625,000 tokens) will be minted annually for six years, beginning six months after the mainnet launch.
To prevent inflation, any newly minted tokens not used within the year will be burned, ensuring that all tokens from this initiative are dedicated to network growth rather than being held in the treasury.
17/ Sonic's 3.5% target block reward rate is designed to sustain the network and its applications.
By securing this reward rate for validators, the network can enhance its token burn from transaction fees and offer higher incentives for builders in the Gas Monetization program.
18/ 𝐋𝐞𝐭 𝐦𝐞 𝐞𝐱𝐩𝐥𝐚𝐢𝐧:
☞ 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗡𝗼𝗻-𝗚𝗮𝘀𝗠 𝗮𝗽𝗽𝘀: 50% of the transaction fee will be burned, with the remainder tipped to validators.
☞ 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗚𝗮𝘀𝗠 𝗮𝗽𝗽𝘀: Up to 90% of the transaction fee will be allocated to select apps, with the rest tipped to validators.
19/ 𝐓𝐫𝐮𝐬𝐭 𝐢𝐧 𝐀𝐧𝐝𝐫𝐞 𝐂𝐫𝐨𝐧𝐣𝐞.
As I've mentioned before, it was @FantomFDN that announced the launch of Sonic Foundation and Sonic Labs back in May.
The Sonic Foundation will be responsible for the network’s governance and treasury management functions, while Sonic Labs will drive growth among dApps, partnerships & users.
20/ When announcing the creation of the Sonic Foundation, @FantomFDN also revealed closing a $10 million funding round led by Korean crypto fund @hashed_official.
The round also saw participation from @Signum_Capital, the @aave Foundation, UOB Ventures & several angel investors.
x.com/0xSonicLabs/status/1793675076769894458
21/ More recently, @0xSonicLabs announced that @AndreCronjeTech, currently director at Sonic Labs (still the same company but different name), has officially become the new CTO.
22/ @AndreCronjeTech is widely recognized as a top software engineer and a pioneer in DeFi. Many projects still rely on the technology he developed as the backbone of their applications.
In his new role, Andre will continue to lead the design and development of the Sonic network, with a focus on the new native bridge technology called "Sonic Gateway."
23/ 𝐀𝐧𝐝𝐫𝐞 𝐂𝐫𝐨𝐧𝐣𝐞 𝐬𝐭𝐚𝐭𝐞𝐝:
“𝐴 𝑠𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝐸𝑡ℎ𝑒𝑟𝑒𝑢𝑚 𝐿2 𝑛𝑒𝑒𝑑𝑠 𝑐𝑜𝑛𝑓𝑖𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑜𝑛 𝐸𝑇𝐻 + 𝑢𝑠𝑢𝑎𝑙 𝑓𝑟𝑎𝑢𝑑-𝑝𝑟𝑜𝑜𝑓 𝑡𝑖𝑚𝑒. 𝑂𝑛 𝑆𝑜𝑛𝑖𝑐, 𝑎𝑠 𝑎𝑛 𝐿1 (𝑚𝑜𝑟𝑒 𝑖𝑚𝑝𝑜𝑟𝑡𝑎𝑛𝑡𝑙𝑦 𝑎𝑛 𝑎𝐵𝐹𝑇 𝐿1), 𝑜𝑛𝑙𝑦 𝑐𝑜𝑛𝑠𝑒𝑛𝑠𝑢𝑠 𝑎𝑝𝑝𝑟𝑜𝑣𝑎𝑙 𝑖𝑠 𝑟𝑒𝑞𝑢𝑖𝑟𝑒𝑑 (𝑠𝑢𝑏-𝑠𝑒𝑐𝑜𝑛𝑑 𝑓𝑖𝑛𝑎𝑙𝑖𝑡𝑦) 𝑓𝑜𝑟 𝑐𝑜𝑛𝑓𝑖𝑟𝑚𝑎𝑡𝑖𝑜𝑛. 𝑇ℎ𝑒𝑟𝑒 𝑖𝑠 𝑎𝑙𝑠𝑜 𝑛𝑜 ‘𝑙𝑜𝑛𝑔𝑒𝑠𝑡 𝑐ℎ𝑎𝑖𝑛 𝑟𝑢𝑙𝑒’ 𝑖𝑛 𝑒𝑓𝑓𝑒𝑐𝑡, 𝑤ℎ𝑖𝑐ℎ 𝑒𝑙𝑖𝑚𝑖𝑛𝑎𝑡𝑒𝑠 𝑡ℎ𝑒 𝑛𝑒𝑒𝑑 𝑓𝑜𝑟 𝑎𝑛𝑦 𝐶𝐸𝑋 𝑑𝑒𝑝𝑜𝑠𝑖𝑡 𝑝𝑟𝑜𝑚𝑝𝑡 𝑜𝑓 ‘𝑤𝑎𝑖𝑡𝑖𝑛𝑔 𝑜𝑛 10 𝑐𝑜𝑛𝑓𝑖𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑠…’, 𝑒𝑡𝑐.
𝑊𝑖𝑡ℎ 𝑆𝑜𝑛𝑖𝑐, 𝑜𝑛𝑙𝑦 1 𝑐𝑜𝑛𝑓𝑖𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑖𝑠 𝑟𝑒𝑞𝑢𝑖𝑟𝑒𝑑 𝑓𝑜𝑟 𝑎 ‘𝑓𝑖𝑛𝑎𝑙𝑖𝑧𝑒𝑑’ 𝑡𝑟𝑎𝑛𝑠𝑎𝑐𝑡𝑖𝑜𝑛. 𝐿𝑖𝑘𝑒 𝑎 𝑡𝑟𝑢𝑒 ‘𝑓𝑖𝑟𝑠𝑡-𝑐𝑙𝑎𝑠𝑠 𝑐𝑖𝑡𝑖𝑧𝑒𝑛’, 𝑆𝑜𝑛𝑖𝑐 𝐺𝑎𝑡𝑒𝑤𝑎𝑦 ℎ𝑎𝑠 𝑎 𝑓𝑎𝑖𝑙𝑠𝑎𝑓𝑒 𝑤ℎ𝑒𝑟𝑒 𝑢𝑠𝑒𝑟𝑠 𝑐𝑎𝑛 𝑟𝑒𝑐𝑜𝑣𝑒𝑟 𝑡ℎ𝑒𝑖𝑟 𝑓𝑢𝑛𝑑𝑠 𝑜𝑛 𝑡ℎ𝑒 𝑐ℎ𝑎𝑖𝑛 𝑡ℎ𝑒𝑦 𝑏𝑟𝑖𝑑𝑔𝑒𝑑 𝑓𝑟𝑜𝑚.”
24/ A well respected thought leader in the DeFi space, @AndreCronjeTech recently also made waves with his piece titled "Why Defi", where he says:
"𝑇ℎ𝑒 𝑐𝑜𝑟𝑒 𝑜𝑓 𝑓𝑖𝑛𝑎𝑛𝑐𝑒 ℎ𝑎𝑠 𝑎𝑙𝑤𝑎𝑦𝑠 𝑏𝑒𝑒𝑛 𝑒𝑚𝑝𝑜𝑤𝑒𝑟𝑚𝑒𝑛𝑡 𝑎𝑛𝑑 𝑚𝑎𝑘𝑖𝑛𝑔 𝑖𝑑𝑙𝑒 𝑎𝑠𝑠𝑒𝑡𝑠 𝑤𝑜𝑟𝑘. 𝐼𝑛 𝐷𝑒𝑓𝑖, 𝑦𝑜𝑢 𝑑𝑜𝑛'𝑡 𝑛𝑒𝑒𝑑 𝑡𝑜 𝑏𝑒 𝑎 𝑞𝑢𝑎𝑙𝑖𝑓𝑖𝑒𝑑 𝑖𝑛𝑣𝑒𝑠𝑡𝑜𝑟. 𝐷𝑒𝑓𝑖 𝑖𝑠 𝑡ℎ𝑒 𝑐𝑜𝑟𝑒 𝑐𝑜𝑟𝑛𝑒𝑟𝑠𝑡𝑜𝑛𝑒 𝑜𝑓 𝑎 𝑑𝑒𝑐𝑒𝑛𝑡𝑟𝑎𝑙𝑖𝑧𝑒𝑑 𝑠𝑜𝑐𝑖𝑒𝑡𝑦. 𝑇ℎ𝑖𝑠 𝑖𝑠 𝑗𝑢𝑠𝑡 𝑡ℎ𝑒 𝑏𝑒𝑔𝑖𝑛𝑛𝑖𝑛𝑔, 𝑢𝑛𝑡𝑖𝑙 𝑡𝑟𝑎𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑖𝑛𝑑𝑢𝑠𝑡𝑟𝑖𝑒𝑠 (𝑠𝑢𝑐ℎ 𝑎𝑠 𝑖𝑛𝑠𝑢𝑟𝑎𝑛𝑐𝑒, 𝑒𝑛𝑒𝑟𝑔𝑦, 𝑟𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒, 𝑐𝑎𝑟 𝑠𝑎𝑙𝑒𝑠, 𝑏𝑎𝑛𝑘𝑠, 𝑒𝑡𝑐.) 𝑎𝑟𝑒 𝑎𝑙𝑙 𝑜𝑛-𝑐ℎ𝑎𝑖𝑛, 𝑓𝑟𝑒𝑒 𝑡𝑜 𝑎𝑐𝑐𝑒𝑠𝑠, 𝑡𝑟𝑎𝑛𝑠𝑝𝑎𝑟𝑒𝑛𝑡 𝑎𝑛𝑑 𝑜𝑝𝑒𝑛 𝑡𝑜 𝑒𝑣𝑒𝑟𝑦𝑜𝑛𝑒."
x.com/AndreCronjeTech/status/1828728130116476946
Imo, he is the perfect figurehead to lead Sonic into this new era.
Max bullish.
25/ What interesting about Sonic is the new approach towards community and ecosystem building.
Playing strong on the "𝗻𝗼𝘁 𝗮 𝗩𝗖 𝗰𝗵𝗮𝗶𝗻" narrative and having an already (almost) fully diluted supply with no sell pressure arising from "VC profit-taking", is a unique position, especially considering the credibility on the tech side.
x.com/0xSonicLabs/status/1827394907142504858
26/ A lot of memetic content and a strong focus on community involvement too, which seems to go into the direction of what @monad_xyz is doing.
Maybe even slightly more degen.
x.com/0xSonicLabs/status/1825612387220938882
27/ Considering this positioning and the fact that "SONIC 3" is hitting the movies in December (the tweet below got 12M views, just fyi), there might even be a meme catalyst coming that is not yet priced in by the market at all.
x.com/DiscussingFilm/status/1828417567381135610
28/ 𝐁𝐮𝐭 𝐞𝐧𝐨𝐮𝐠𝐡 𝐬𝐩𝐞𝐜𝐮𝐥𝐚𝐭𝐢𝐨𝐧.
Imo, $S is a must-hodl going into this cycle.
It's basically an anti-VC, meme and degen-DeFi ecosystem, owned by the community and with serious tech underneath.
Don't get me wrong. I'm bullish @monad_xyz too.
But in terms of liquid investment, $S could be one of the big plays this cycle.
29/ ⚠️ 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭:
I was not in any way or form incentivized to write this thread and this is nor supposed to be financial advice.
I don't hold any $FTM rn, but honestly, I think I'll get a bag today.
Update to follow. 👀
30/ 🤡 𝐅𝐢𝐧𝐚𝐥 𝐟𝐮𝐧 𝐟𝐚𝐜𝐭:
I have been bullish on @FantomFDN's long-term roadmap for quite some time already.
Good to see things coming together now.
In case you want to see what I was saying about $FTM back in April 2023 (TVL used to be a bit higher lol), have a look below.
And now, pls let me get my $FTM bag and then we go up only, ok?
x.com/expctchaos/status/1645552713181306882
17 more images on X
How the calls played out · since 31 Aug 2024
Prices as of 23 Oct 2026This piece takes a view on $S, $FTM, so those moves are read against the call.
Bullish on S as a high-throughput EVM with an almost fully diluted supply and no predatory VC tokenomics.
−95%
Moved against the call · since it listed on 05 Jan 2025, 4 months after this piece
- At listing
- $0.989
- Now
- $0.0521
- vs BTC
- −94%
- After 1 month
- −53%
- After 3 months
- −50%
- After 1 year
- −91%
- High since
- 0.0% 05 Jan 2025
- Low since
- −98% 26 Jun 2026
Bullish on FTM holders migrating to S, a non-VC token with large airdrop and ecosystem allocations.
−88%
Moved against the call · over 2.1 years
- At publication
- $0.428
- Now
- $0.0506
- vs BTC
- −91%
- After 1 month
- +59%
- After 3 months
- +142%
- After 1 year
- −26%
- High since
- +234% 16 Dec 2024
- Low since
- −95% 06 Aug 2026
Since then
Zero has written 12 more pieces on Fantom and Sonic Labs and $FTM and $S since this one.
- Sonic five months in: $1B TVL and highest net inflows YTDOn Sonic
- Sonic gas fee monetization: up to 90% of fees back to appsBullish call on $FTM
- FTM to $1 before Sonic mainnet: the bull caseBullish call on $S
- FTM above $0.7 ahead of Sonic mainnet and S token migrationBullish call on $S
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish call in a thesis or market take is tracked; explainers, lists, maps and mentions are neutral context. Not financial advice.