Newly launched meme token Sonik Coin ($SONIK) is up and running at supersonic speed as it bids to become the fastest crypto to reach a $100 million market cap.
Inspired by video game favorite Sonic the Hedgehog, SONIK is not just a meme coin with little utility but also features a robust stake-to-earn feature that allows investors to earn if they stick with the project.
Sonik Coin will offer a huge annual percentage yield (APY) for those that stake the token.
The presale is now live with tokens on sale at a fixed price of $0.000014 through one round, with a small hard cap target of $2,098,547.
SONIK Staking Offers Huge Rewards and Incentivizes Holding
Plenty of meme coins have launched in recent months with little to no reason to hold them beyond their potential as a lottery ticket.
Sonik is different, however, as staking means buyers can earn passive income on their tokens by holding them in a pool that generates rewards, to be paid out over four years.
Rewards will vary based on several factors that dictate the APY, including how much individual investors stake and how many tokens are staked overall.
The recently launched BTC20 showed the potential for gains that staking coins can offer – nearly 66% of the project’s supply is locked in staking and the token grew 6x within minutes of it being made available on decentralized exchanges.
Staking also incentivizes long-term holding – the four-year rewards period is much longer than many meme coins can expect to survive but will keep Sonik relevant.
The latest news on the project can be found by following the X (formerly Twitter) account and joining the Telegram group.
Low Hard Cap Means Fast Sale Expected
As mentioned above, the Sonik presale has just launched with a small hard cap of around $2 million.
That target is expected to be reached within just a couple of weeks, meaning buyers will need to move quickly to secure their tokens.
Sonik has a max supply of 299,792,458,000 – while that may seem odd at first glance, it is actually the speed of light, the speed at which Sonic the Hedgehog can run.
50% of the total supply has been made available during the presale, with another 40% for staking and the final 10% to ensure liquidity on exchanges when it launches.
Popular crypto analyst Jacob Bury has already highlighted the 10x potential of SONIK on his YouTube channel.
Love of Sonic Could See Stratospheric Gains
Sonic the Hedgehog is one of the most popular characters of the last 30 years and has spawned a multimedia franchise.
It includes more than 30 video games, numerous animated series and books, and two recent live-action films that took nearly $1 billion combined at the box office.
The Sonik meme coin, which has no affiliation to the Sega character, will benefit from this popularity and is also likely to find an extremely enthusiastic audience in the Asian market.
The project is believed to be creating Japanese, Chinese and Korean versions of their website to capitalize on the potential popularity of the meme coin.
Sonik is also differentiating from a great many meme coin projects by submitting its smart contract for a full audit.
This means peace of mind for potential buyers, with the audit report to be published soon and available for all investors to read.
To purchase SONIK on presale, buyers can visit the website and convert ETH or USDT – the coin will then list on the Uniswap DEX when the presale is complete.
For more information on the project, visit the Sonik website and read through the full whitepaper.