A new Layer 1 blockchain is exploding. But, why?

‍What’s happening:‍

• Layer 1 blockchain Sonic has been experiencing a surge in trading volumes and developer activity lately, which has led to record breaking growth
  

By the numbers:‍

• Sonic now has more than $1B USD in total value locked on their blockchain
  
• Decentralized exchange trading volume on Sonic has also hit new all time highs, just recently exceeding $900M USD in weekly volume
  

Why it matters:‍

• Sonic is quickly becoming one of the fastest growing Layer 1 blockchains that is compatible with smart contracts and applications that have been designed for Ethereum, as well as being capable of processing exceptionally high transaction volume with low fees
  

Going deeper:‍

• Sonic was previously known as Fantom, prior to recently rebranding and completely a successful migration
  
• Sonic has also drawn significant activity from developers, which is largely fuelled by their unique monetization network that allows developers to keep up to 90% of the fees that are generated by their own applications

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