Sonic Blockchain Enters Next Growth Phase Under New CEO

The EVM-compatible blockchain platform, Sonic (formerly Fantom), has entered a new chapter under its new CEO, Mitchell Demeter. In an update shared on November 11 via the company’s official X account, Demeter revealed plans to focus on long-term growth and real value creation. 

The move will see Sonic strengthen its core blockchain operations, grow its ecosystem, and improve how the company runs day to day. Demeter, who stepped into the role six weeks ago, emphasized that Sonic’s next chapter is not about chasing hype but delivering measurable results. 

“It’s been six weeks since I stepped into the role of CEO at Sonic Labs,” he said. “We’ve now shifted into execution, engaging new partners, expanding our team, and accelerating initiatives that strengthen Sonic’s foundation and drive real growth.”

A shift from hype to fundamentals

Demeter’s approach signals a maturing phase for Sonic Labs. The company plans to transform its proven high-speed blockchain into a long-term value engine for builders, validators, and tokenholders. He stressed that Sonic’s treasury remains healthy with no liquidity concerns, allowing the firm to execute plans with confidence and focus. 

“This industry is maturing,” Demeter stated. “The last cycle was driven by speculation. This cycle will be driven by fundamentals, clear economics, and consistent delivery.”

The CEO highlighted that while communication had slowed since his appointment, it was intentional. The team wanted to prioritize progress before public statements. “Meaningful communication comes from meaningful progress,” he said, reinforcing his commitment to execution first. 

Price, performance, and purpose

Demeter addressed one of the most sensitive topics in crypto—price. “Do we care about the price of Sonic? The answer is simple: yes, we do,” he said. According to him, price reflects market confidence and the success of the team’s execution.

“Validators care about price. Builders care about price. Tokenholders care about price. And Sonic Labs cares about price,” he affirmed. A strong price, he noted, helps attract talent, supports innovation, and reflects the health of the ecosystem. However, he stressed that price should be an outcome of consistent delivery, not a short-term goal.

Running Sonic like a modern business

Sonic Labs aims to function like a modern infrastructure company rather than an application studio or venture fund. The focus is on real value creation through developer engagement, institutional adoption, and a sustainable on-chain economy.

Launched in December 2024, Sonic was rebranded from Fantom, shifting from its original identity to a layer-1 blockchain now capable of handling over 370,000 transactions per second (TPS) with sub-second finality, up from its earlier 10,000 TPS. The process began in August 2024 under Michael Kong and Andre Cronje, with a 1:1 FTM-to-S token swap finalized by Binance in January 2025. 

The new developments also introduced changes like a 90% fee reward structure for developers and liquid staking, reflecting an attempt to adjust its approach. This rebranding reflects a move toward an EVM-compatible system, though it remains to be seen how it will fare against established networks like Ethereum and Solana.

On the Sonic network, developers will earn based on network activity, and validators will get set rewards. Tokenholders will also see effects from token burns linked to overall usage. To back this structure, Sonic is focusing on marketing, partnerships, and institutional outreach. The company also plans to open a New York office to build closer ties with industry partners.

Strengthening tokenomics and ecosystem expansion

A significant part of Sonic’s updated plan is adjusting how fees are shared on the network. Under the new system, builders will receive between 15% and 90% of collected fees, validators will get 10%, and the remaining portion will be permanently removed from circulation to reduce token supply

Community voices responded positively. Analyst ‘zethesx’ commented, “A new FeeM structure? The myth of 90% of the fees going back to builders is going to have an adjustment. SonicLabs’ effort to make $S deflationary by burning a part of the fees will have a positive impact on the future.”

Another community member, Route2FI, noted, “Seeing some positive changes from the new CEO here who states that the price of $S matters, and that they will work on that.”

Meanwhile, data from DeFiLlama shows Sonic’s Total Value Locked (TVL) stands at $126.65 million, down 4.54% in 24 hours. Earlier in May 2025, Sonic’s TVL surpassed $1 billion, reflecting strong early momentum before gradually declining through mid-year. Despite this pullback, activity remains steady, with a 24-hour DEX trading volume of $14.71 million and perpetual volume of $1.77 million.

As per the data, Sonic’s token is currently priced at about $0.14, giving the project a market value of roughly $538 million. Its total potential value, if all tokens were in circulation, would be around $552 million. The team has also raised $10 million in funding, providing enough resources to support its ongoing development.

Looking forward

Sonic Labs plans to expand its network by improving developer tools, building institutional partnerships, and broadening its international presence. The company also intends to develop GMSonic into a platform focused on education and industry updates.

Demeter concluded confidently, “The foundation is set, and momentum is building. This next chapter will take discipline and time, but with our community, builders, and investors aligned, I’m confident we’ll build something lasting.”

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