When the industry is still debating Layer2 scalability, Sonic provides a new answer with a "fundamental revolution." Recently, HTX Research released the latest report titled "Sonic: A Sample of the New Paradigm in DeFi," which details the new public chain Sonic. Under the premise of being fully compatible with EVM, Sonic achieves over 2000 TPS throughput, 0.7 seconds for final transaction confirmation, and a transaction cost of $0.0001 by reconstructing the virtual machine, storage engine, and consensus mechanism, outperforming mainstream Layer1 and even surpassing most Layer2 solutions. The performance limits are being disrupted as Sonic reshapes public chain infrastructure, officially ushering public chains into the "second-level era."
Sonic's Path to Innovation: Over 2000 TPS, 0.7 Seconds Confirmation, Nearly Zero Cost
Fantom Opera, as a high-performance public chain based on directed acyclic graphs (aDAG), initially stood out due to its high throughput and fast confirmation capabilities. However, as the on-chain ecosystem expanded, the bottlenecks of its traditional EVM architecture gradually became apparent: state storage expansion, slow node synchronization, and limited execution efficiency. To address this, Fantom launched a new upgrade plan, Sonic, aimed at achieving performance leaps through fundamental reconstruction without relying on sharding or Layer2.
Sonic is led by the reorganized Sonic Labs, with a core team of top industry talents: CEO Michael Kong, CTO Andre Cronje (founder of Yearn Finance), and Chief Research Officer Bernhard Scholz. The team has spent two and a half years optimizing everything from the virtual machine, storage engine, to the consensus mechanism, ultimately creating the independent new chain Sonic, which is EVM-compatible while achieving over 2000 TPS, 0.7 seconds for final confirmation, and a transaction cost of $0.0001, with storage efficiency improved by 90% and node synchronization time reduced from several weeks to within two days.
Technical Breakthrough: A Triad of Performance Leap
· SonicVM: A new virtual machine that dynamically compiles EVM bytecode, caches high-frequency operations (such as SHA3 hashing), and pre-analyzes jump instructions, significantly improving execution efficiency to support high throughput demands.
· SonicDB: Utilizes a layered storage design, separating real-time state (LiveDB) from historical data (ArchiveDB), compressing storage space by 90%, lowering node operation and maintenance thresholds, and enhancing decentralization.
· Sonic Gateway: A Layer2-like cross-chain bridge to Ethereum, balancing security and efficiency through a batch processing mechanism, supporting bidirectional asset migration, and seamlessly connecting to the Ethereum ecosystem.
Token Economics: Dual Incentives for Developers and Users
Sonic introduces the native token S, which can be exchanged 1:1 with the old token FTM, serving functions such as gas payment and staking governance. Its innovative mechanisms include:
· Gas Fee Monetization (FeeM): Developers can receive up to 90% of transaction fee sharing, incentivizing ecological application innovation; non-FeeM applications will have 50% of fees burned to curb inflation.
· Points Airdrop System: Users can earn points (Passive/Activity Points and Gems) through holding tokens, participating in DeFi, or ecosystem interactions, redeeming a total of 200 million S tokens, forming a positive cycle of "using is mining."
Stablecoin Ecosystem: Nested Returns and Counter-Cyclical Growth
During the market downturn in 2025, Sonic's on-chain TVL grew over 500%, with stablecoin scale surpassing $260 million, driven by high-leverage return strategies:
· Silo v2 Circular Borrowing: By staking S tokens to borrow stablecoins, leveraging up to 20 times, capturing multiple points and interest spread returns.
· Euler+Rings Combination: Depositing USDC to mint over-collateralized stablecoin scUSD, combining leverage features to achieve 10 times return amplification while earning Sonic points and protocol airdrops.
· Shadow DEX Liquidity Mining: Providing liquidity for mainstream trading pairs, with annualized returns reaching 169%, while enjoying transaction fee sharing.
Future ecological plans will introduce RWA (Real World Assets) returns and off-chain payment scenarios, expanding through compliant asset endorsements and consumption applications to build a sustainable stablecoin usage closed loop.
DeFi Infrastructure Innovation: Adaptive AMM and Dynamic Risk Control
Sonic's core DEX FlyingTulip, designed by Andre Cronje, integrates trading, lending, and leverage functions, with key technological breakthroughs including:
· Adaptive AMM Curve: Combining the liquidity aggregation advantages of Curve V2, introducing external oracles to monitor volatility, dynamically adjusting curve shapes—approaching constant product curves during low volatility (low slippage) and constant sum curves during high volatility (preventing liquidity depletion), reducing impermanent loss by 42% and improving capital efficiency by 85%.
· Dynamic LTV Lending Model: Drawing on Curve's LLAMMA liquidation mechanism, but adjusting collateral ratios (LTV) in real-time based on market volatility. For example, the ETH collateral borrowing rate can drop from 80% during calm periods to 50% during volatile periods, reducing systemic risk.
Conclusion: The Sample Significance of DeFi 2.0
With the triple advantages of "high performance + nested returns + low threshold," Sonic's TVL is expected to exceed $2 billion within 12 months, and the market cap of token S may reach several billion dollars. Its model sets a new paradigm for the industry: replacing liquidity speculation with on-chain efficiency and real returns, potentially triggering a fundamental shift in public chain competition logic.
Potential risks are concentrated at the technical level, including the adaptive AMM's reliance on external oracles, which could lead to liquidity pool anomalies if price feeds are attacked; high-leverage strategies face liquidation risks in extreme market conditions, requiring the use of hedging tools (such as perpetual contract short positions) to manage volatility.
From a macro perspective, Sonic is expected to become a dark horse in the DeFi recovery wave of 2025, with the success of its stablecoin ecosystem creating vast upward potential for the ecological token S and overall network value. The rise of Sonic validates a key proposition: during a bear market, through mechanism innovation and performance breakthroughs, DeFi can still build a "yield fortress," attracting rational capital for long-term retention. Its nested return model, developer incentive system, and efficient infrastructure provide a reusable template for the industry. If it successfully integrates RWA and payment scenarios, Sonic may become a bridge connecting on-chain returns with real economic demands, pushing DeFi into a new phase of large-scale application.
To read the full report, please visit: https://square.htx.com/wp-content/uploads/2025/04/HTX-Research-Zui-Xin-Yan-Bao.pdf
About HTX Research
HTX Research is the dedicated research department under HTX Group, responsible for in-depth analysis across a wide range of fields including cryptocurrencies, blockchain technology, and emerging market trends, writing comprehensive reports and providing professional assessments. HTX Research is committed to providing data-driven insights and strategic foresight, playing a key role in shaping industry perspectives and supporting informed decision-making in the digital asset space. With rigorous research methodologies and cutting-edge data analysis, HTX Research consistently stands at the forefront of innovation, leading the development of industry thought and promoting a deeper understanding of the ever-changing market dynamics.
This article is contributed and does not represent the views of BlockBeats.
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