Shiba Inu Deployer Could Have Made Millions From SHIB if the Project Launched on the Sonic Network

Andre Cronje, the founder of Sonic, recently discussed the potential earnings meme coin deployers could have made had their tokens launched on Sonic.

The deployers of Shiba Inu (SHIB) could have made millions of dollars from the meme coin’s adoption if the project had launched on the Sonic network, according to its founder Andre Cronje.

In a recent discussion, Cronje highlighted the potential earnings meme coin deployers could have made had their tokens launched on Sonic. He specifically mentioned Shiba Inu (SHIB) deployers, who he said could have earned over $88 million alone.

However, other meme coins like Pepe and Floki also stood to benefit massively, with potential earnings of $5.8 million and $1.6 million, respectively. These figures are a result of Sonic’s gas monetization model, which offers developers up to 90% of gas fees generated by their projects.

For the uninitiated, Sonic is a blockchain designed to provide developers with a more lucrative environment. With its high-speed transaction finality of 720 milliseconds and scalability, Sonic seeks to be a prime choice for decentralized applications (dApps).

The appeal of Sonic is particularly strong due to its gas monetization feature, which offers developers up to 90% of the gas fees generated by their dApps.

In a previous post, Cronje compared Sonic to Ethereum, explaining how protocols like Compound, Aave, and even stablecoin issuers like Circle and Tether could have earned millions more if they had access to Sonic’s gas revenue model.

Curious how much some of the top protocols on Ethereum would have been paid if Ethereum offered 90% of gas fees to the Dapp like Sonic?

Compound: $30,439,872.62

Aave: $87,609,646.10

Circle: $305,878,808.70

Tether: $972,937,819.80

Uniswap: $2,439,295,129.10

https://t.co/RMjxvGvyzI pic.twitter.com/GriWxv2ynI

— Andre Cronje (@AndreCronjeTech) September 13, 2024

This approach makes Sonic highly appealing to dApp developers, as it rewards those generating high traffic with substantial financial returns, a feature lacking in traditional blockchain platforms.

A representative from Fantom Starter, a decentralized finance project, commented on this, suggesting that serious projects now face two choices: build their own layer-2 solutions or utilize a blockchain that shares gas revenue like Sonic.

Meanwhile, the Shiba Inu ecosystem, led by Shytoshi Kusama, has already taken the first route by launching Shibarium, its own layer-2 network. Shibarium aims to enhance the scalability of the Shiba Inu ecosystem.

Although the launch encountered some technical difficulties, the team made efforts to upgrade, stabilize, and optimize the network. Since launching last August, Shibarium has processed over 418 million total transactions, boasting up to 1.82 million wallet addresses and contributing to the burning of SHIB.

However, it is unlikely that the $88 million profit Shiba Inu would have realized had it launched on Sonic would be as appealing to its deployer Ryoshi. Despite the potential to make billions by simply selling off SHIB, the anonymous founder has opted to leave the project in the hands of the community and vanish.