Sonic Public Chain TVL rises over 130% in a month, ecosystem projects worth following

Recently, the cryptocurrency market has been in a narrative vacuum, with the meme craze fading and Solana's on-chain activities significantly decreasing. Most altcoins have dropped more than 80% in the past three months. However, there is one public chain that has risen against the trend, with its TVL rising over 130% in one month, ranking first among all public chains, and that is Sonic.

Sonic is the predecessor of the Fantom public chain. Fantom, as a Layer 1 public chain focused on DeFi and dApps, was launched in 2019 and was highly sought after during 2021-2022, with a peak TVL of around $8 billion. However, in 2022, core developers announced a temporary exit from the DeFi industry, leading to decreased market confidence in Fantom. In July 2023, a vulnerability incident occurred with a partner cross-chain bridge, further impacting the stability of the ecosystem. Against this backdrop, Fantom proposed an upgrade to Sonic.

Sonic announced the issuance of a total of 190.5 million S tokens. The reward mechanism for these tokens is divided into two parts: 25% can be withdrawn immediately, and 75% will be gradually released in the form of tradable NFTs. Users can qualify through two routes: Points (for network participants) and Gems (for developers).

Sonic Points are user-oriented airdrop points, divided into passive points and active points. Holding whitelisted assets in a Web3 wallet earns passive points, while deploying whitelisted assets in the application earns active points. Certain specific assets can only earn active points, and the returns on active points are double those of passive points.

Popular Projects in the Sonic Ecosystem

1. Sheep Coin Game

Sonic Wolf Sheep Game is a strategic gaming ecosystem that combines blockchain asset management, NFT mechanics, and DeFi protocols. Players can build their advantages and earn profits by purchasing, minting, protecting, and attacking assets.

The core mechanics of the game include:

1. Purchase Sheep Coin: Players can use S to purchase Sheep Coin at a 1:1 ratio. 95% of Sonic Token will be provided to Sheep Coin as liquidity.

2. Minting Wolf NFTs: Players can use Sheep Coin and S to mint Wolf NFTs. The minting cost increases with each time, and all Sheep Coins used for minting will be permanently destroyed.

3. Wolf NFT Mechanism: The Wolf needs to consume Sheep daily, and the consumption amount increases over time. The Wolf can feed from the liquidity pool or wallet, with different methods having different Sheep destruction ratios.

4. Shepherd Dog Protection Mechanism: Players can deposit Sheep into the Sheep Dog for protection, and must wait and pay a fee when withdrawing.

5. Shepherd Dog Reward Mechanism: Sheep stored in the Shepherd Dog can earn S rewards.

The core idea of the game is to lead to continuous deflation of sheep through "wolf eating sheep", thereby driving up the coin price. Players need to make choices between the high risk and high reward of wolves and the relatively stable nature of sheep, while also considering whether to use the shepherd dog protection mechanism.

2. Petroleum Finance

Petroleum City is a blockchain game themed around oil extraction. Players refine crude oil (cOIL) by constructing, upgrading, and managing Pumps, converting it into tradable $OIL to generate profits.

The core mechanics of the game include:

1. Purchase land: Players can buy and customize plots to build an oil empire.

2. Buy Pump: The pump is the core production tool of the game, continuously and automatically producing cOIL. The pump can be upgraded to increase output, but it will deteriorate over time and needs repairs.

3. Add decorations: Players can decorate the plots to enhance appearance and personal style.

4. Refining cOIL: The produced cOIL must be refined at a refinery before it can become tradable $OIL. Refining has different lock-up periods and tax rates, with longer periods yielding higher returns.

Players need to find a balance between production, refining, and upgrading, and to plan strategies reasonably to stabilize income and expand assets.

The innovative projects of the Sonic ecosystem provide users with diverse participation opportunities and contribute to the rapid rise of public chains. With the addition of more quality projects, Sonic is expected to maintain strong momentum in the highly competitive public chain market.