#35 / L1 networksfantomPartially verified

Fantom

A DAG-based EVM chain whose ecosystem has been migrating to its Sonic successor.

View market View map

Token

FTM

Sector

High-throughput EVM chain

FTM market

CoinGecko data; may be delayed.

Compare

Tokenomics

Market cap

Fully diluted valuation (FDV)

$150.70M

Circulating supply: 0
Total supply: 3.17B
Max supply: 3.17B

All-time high (ATH)

$3.46 -98.63% · Oct 27, 2021

Source: CoinGecko, snapshot of Oct 26, 2026. Figures may be delayed.

On-chain fundamentals

Chain TVL: $3.30M

Source: DefiLlama, data as of 2026-10-26 · Revenue is not reported by every protocol.. Figures are informational, not financial advice.

Why it matters

Fantom ran a directed-acyclic-graph consensus offering fast, cheap EVM-compatible transactions, and hosted a substantial DeFi ecosystem during the 2021 cycle. The project later launched Sonic as its next-generation network with a migration path for the ecosystem and token, so anyone researching FTM today should first confirm the current status of that migration before assuming which asset and chain are live.

General research guidance, not analysis specific to this asset. Detail is pending.

Track the real organization or foundation behind the token, not just the ticker.

Separate token utility from price action before building a position.

Compare network usage, liquidity, incentives, and governance quality against nearby competitors.

How it works

Fantom's Opera chain pioneered DAG-based async BFT consensus (Lachesis) with sub-second finality. The technology has since been upgraded and rebranded as Sonic (S), a new chain with claimed ~400k TPS, a native gateway bridge from Ethereum and Fee Monetization that pays developers up to 90% of the fees their apps generate. FTM is the legacy token, with 1:1 migration into S offered.

Token utility

Gas for EVM transactions on the network

Staking and validator delegation

Collateral across its DeFi ecosystem

Value capture

On Sonic, S captures gas fees and the Fee Monetization program turns app usage into developer revenue — a direct, transparent value loop between activity and the token. For legacy FTM holders, value capture depends on migrating: unmigrated FTM sits outside the Sonic fee economy.

Supply and issuance

FTM supply was fixed at 3.175 billion, fully circulating; Sonic's S keeps a comparable structure with some supply reserved for the ecosystem and airdrops to existing FTM holders. Watch the S-token emission and incentive programs — new chains tend to spend supply to buy activity.

Governance

Historically a foundation-led ecosystem with validator governance over the Opera chain; Sonic continues that model with staking, validator participation and foundation stewardship of the upgrade roadmap. There is no heavyweight on-chain DAO comparable to Tezos or Cosmos.

Key risks

Migration to a successor network creates token and ecosystem transition risk
DeFi activity fell sharply from its previous cycle peak
Crowded competition among fast EVM-compatible chains

Frequently asked questions

Should FTM holders migrate to S?

That is a portfolio decision, but mechanically: the fee economy, new apps and incentives live on Sonic, and the 1:1 migration is the sanctioned path. Holding FTM long-term means holding the legacy asset with shrinking ecosystem gravity.

What is Fee Monetization?

A Sonic program that shares up to 90% of the gas fees an application generates with its developer, inverting the usual model where apps pay fees and get nothing back. It is designed to attract teams that monetize on-chain usage directly.

References

Last verified: 2026-07-22

Sonic | The Fastest EVM Layer-1 Blockchain
Fantom · soniclabs.com · primary source
The project's official site, retrieved on the date shown, supporting how it describes itself. It does not establish supply, governance or issuance mechanics.
Accessed 2026-07-22