Sonic, a decentralized finance platform, is currently trading at $0.51, approximately 50% lower than its January high of $1. The platform has a fully unlocked token supply, which helps mitigate issues related to low float and high fully diluted valuation (FDV). Currently, Sonic's FDV is estimated at around $1.6 billion, positioning it among the more affordable Layer 1 solutions in the market. The platform boasts a total value locked (TVL) of $1.8 billion, despite a 50% drawdown since January. Additionally, Sonic has integrated with Aave, adding $200 million to its liquidity, and has launched boosted pools offering a 2.5x annual percentage yield (APY) multiplier. Recently, Sonic announced a new high-yield algorithmic stablecoin, further diversifying its offerings. The $FLY token sale is also live on Fjord, with a cap of $2 million and a reduced FDV of $45 million from the previous round, utilizing a ve(3,3) model to subsidize trades.