• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Sonic Labs' New Reward Program for DeFi Users

user avatar

by Giorgi Kostiuk

a year ago

Sonic Labs announced the launch of an innovative incentive program to promote the growth of DeFi on the Sonic platform, distributing 200 million S tokens through an airdrop.

Types of Points Accumulation

The Sonic Points program offers three types of points accumulation. Passive points are earned by holding assets in Web3 wallets. Active points are gained by deploying assets as liquidity on apps like DEXs and lending protocols. Sonic Gems cater to developers, where apps compete for Sonic Gems to distribute S tokens to users.

Whitelisted Assets

To earn points, users must choose from Sonic's whitelisted assets, such as scUSD, USDC.e, and scETH. Additional assets may be approved in the future.

Liquidity Infusion with Rings

Rings is a third-party protocol for injecting liquidity on Sonic. Stablecoins and ETH-based tokens allow users to earn yields and reinvest them into Sonic for liquidity infusion.

The Sonic Points program highlights Sonic Labs' commitment to driving further liquidity growth and adoption of DeFi. The new program sets standards and positions the platform as a leading DeFi hub.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

FDIC Seeks Public Input on New Stablecoin Regulation Framework

chest

The FDIC has proposed a new regulatory framework for stablecoin issuers, inviting public feedback over the next 60 days.

user avatarMohamed Farouk

XRP Ledger Activity Declines, Indicating Weakening Investor Sentiment

chest

The XRP Ledger has seen a significant drop in active wallet addresses, indicating a decline in user engagement and investor sentiment.

user avatarElias Mukuru

Shift Towards Self-Custody in Crypto Amid Rising Fraud

chest

A report from XWIN Research Japan reveals a significant shift towards self-custody wallets as crypto users seek to protect their assets amidst rising fraud.

user avatarDiego Alvarez

Solana Faces Critical Support Test Amidst Market Consolidation

chest

Solana's price is hovering near key support levels after a rejection at the 9294 supply zone, with the next 48 hours being crucial for its short-term direction.

user avatarKenji Takahashi

CasiTrades Issues Warning on XRP's Potential Downward Movement

chest

Crypto analyst CasiTrades has warned that XRP may drop to 0.87 due to bearish divergence and resistance levels.

user avatarMaria Fernandez

US and Iran Reach Temporary Ceasefire, Boosting Cryptocurrency Prices

chest

The US and Iran have reached a temporary ceasefire agreement as they work towards a peaceful settlement of the ongoing conflict.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.