TechFlow news: Sonic SVM, the first SVM expansion chain in the Solana ecosystem, has announced an upgrade to its $SONIC token model, introducing a buyback and lock-up mechanism to replace the previous token burn model. Going forward, 50% of on-chain transaction fees will be used to repurchase $SONIC from the market, with the repurchased tokens locked and linearly released over 24 months.
In addition, Sonic SVM will convert a portion of transaction fees into SOL and stake it on the Solana mainnet. The staking rewards will be paired with $SONIC and injected into liquidity pools to support mainnet liquidity development and provide additional incentives for LPs.
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