Fantom to Sonic migration should be a case study for every L1 and L2 team.

$S is down 90%, from $1 to $0.12, and TVL followed the same destiny.

On paper, Sonic had a solid playbook:

- 200M S for airdrops to attract users

- $120M migration program to attract builders and liquidity

- 90% of gas and fee sharing to App devs

- 400k TPS, sub-400ms finality

Obviously, it failed (?)

I haven't seen anyone talking about S on my timeline. I have long bridged out of Sonic myself.

Personally, I was bullish on S but quickly realized there were not much to do on the chain besides farming airdrop and betting on $S price.

No unique Apps to play with.

Big FUD was Binance announcement to delist $FTM without specifying the migration to $S

Timing was also unfortunate, during memecoin mania where all alts failed to get bid.

Tech was there. Execution and timing were not.

What are other reasons it failed to get more traction?

I believe it has lessons for Monad and MegaETH teams as well as their investors.

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