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Sonic Labs' New Reward Program for DeFi Users

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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.

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