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South Korea’s largest exchange Upbit announced that it will list SonicSVM with three trading pairs. According to the official announcement on January 7th, Upbit, will list SONIC (SonicSVM) trading pairs in USDT, BTC, and KRW.
This move is in tandem with other exchanges in the market that have also decided to list the $SONIC token.
KuCoin Also Lists $SONIC Token
Upbit’s decision comes right after Sonic SVM (SONIC), has been listed on cryptocurrency market KuCoin.
The listing was publicized on the exchange’s website and social media accounts. Notably, the SONIC/USDT trading pair will launch SONIC trading on Tuesday, January 7 at 12:00 UTC. After a 24-hour period, SONIC withdrawal services will also be operational on KuCoin.
Why is SonicSVM Gaining Popularity?
Sonic is the first SVM network addon for apps and games on Solana. With the goal of onboarding new users, it drives the Web3 TikTok App Layer. Sonic employs a framework for optimistic Solana rollups called the Sonic HyperGrid.
The Solana rollup network was developed to activate the Solana gaming ecosystem and address the issue of Solana network overload that could arise during the on-chain game production process.
SonicSVM supports game-specific rollup construction on Solana with its in-house HyperGrid system.
Sonic SVM’s Previous Airdrop Commitments
With the confirmation of the launch of the $SONIC token, SonicSVM had also promised an airdrop for its audience. It had stated that users will receive airdropped tokens for their in-app progress in its TikTok-based tap-to-earn game.
Unlike TON and Telegram, Sonic SVM’s own tap-to-earn game, SonicX, was released in October on the social video app TikTok with a planned token on Solana.
The initial airdrop claim will receive 7% of the whole SONIC supply. In addition to Sonic X players, node operators and particular NFT holders will also be given tokens.
Upbit’s Previous Token Listings
Time and again Upbit has upgraded its listing for its audience. The wide variety of listing comes as Upbit has been catering to the growing crypto userbase in South Korea.
Previously, the highly regarded international standard digital asset exchange had declared that the MOVE cryptocurrency would soon be listed on its platform.
Additionally, the platform had announced on November 20, that the Solana-based memecoin BONK would now be listed on the Korean Won (KRW) trading market.
It is intresting to note that Upbit usually lists tokens that have a huge market demand or have grabbed the attention of a larger audience due to their back story.
Read Also: Upbit Returns $6M (8.5Billion Won) To Crypto Scam Victims, 380 Users Compensated