• 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

10 months 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

Conexus Takes Lead in Integrating Bitcoin into Venezuela's Banking System

chest

Conexus, the largest payment processor in Venezuela, is leading the initiative to integrate Bitcoin and USDT into the banking system.

user avatarSon Min-ho

Venezuela to Integrate Bitcoin and USDT into Banking System by 2025

chest

Venezuela is set to integrate Bitcoin and USDT into its banking system by December 2025.

user avatarAyman Ben Youssef

Venezuela's Banking System to Facilitate Bitcoin and USDT Transactions

chest

Venezuela's banking system will support custody, transfers, and conversions of Bitcoin and USDT by December 2025, aiming to reduce informal crypto activities and increase regulated transaction volumes.

user avatarZainab Kamara

Debate Grows Over Altcoin Market Predictions

chest

A growing debate among traders questions the optimism surrounding altcoin predictions for a major rally.

user avatarTando Nkube

Industry Leaders Stress Urgency of Quantum-Resistant Measures

chest

Experts warn that quantum computing could compromise current encryption standards, urging a shift to quantum-resistant algorithms.

user avatarKofi Adjeman

Vitalik Buterin Warns of Quantum Threats to Blockchain Security

chest

Vitalik Buterin warns about potential quantum threats to blockchain security, urging the adoption of quantum-resistant cryptography by 2028.

user avatarNguyen Van Long

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.