Sonic
Crypto Overview
Overview
Sonic is a meme cryptocurrency that launched in February 2024 on the Solana blockchain, named after the popular video game character. The token gained significant attention shortly after its launch due to social media promotion and association with the gaming character.
Purpose and Utility
The token appears to be primarily created as a meme coin with minimal documented utility beyond community engagement and trading. There is no whitepaper or detailed technical documentation available.
Business Model
The project does not appear to have a clear business model beyond community-driven price appreciation and trading. There are no prominent partnerships or integrations announced.
Development Activity and Platform
Development activity appears minimal, with the main focus being on community building through social media. No significant technical developments or roadmap have been announced.
Token Distribution
While exact token distribution details are not publicly available, the token appears to follow a fair launch model where tokens were made available for public trading without pre-mine or team allocation.
Analysis of Activities
The primary activity involving SONIC is trading on decentralized exchanges, which involves actual transfer of token ownership. While speculative in nature, this represents legitimate asset exchange rather than gambling.
Crypto Impact
To assign a comfort level investing in Sonic from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sonic.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.