Sonic Labs Launches New Points Program to Boost DeFi Growth and User Rewards
George Town, Cayman Islands, January 14th, 2025, Chainwire
Sonic Labs has unveiled an innovative points program aimed at rewarding users and fueling the growth of decentralized finance (DeFi) on the Sonic platform. This new initiative, which distributes approximately 200 million S tokens through an airdrop, represents a significant step in establishing Sonic as a leading hub for DeFi enthusiasts and newcomers alike.
Three Types of Points
The Sonic Points program offers users three distinct avenues for accumulating points:
1. Passive Points: Users can earn passive points by holding whitelisted assets in Web3 wallets like Rabby or MetaMask, or in hardware wallets. Assets stored on centralized exchanges are not eligible for passive points.
2. Activity Points: By deploying whitelisted assets as liquidity on participating apps such as decentralized exchanges (DEXs) and lending protocols, users can earn activity points on top of their passive points. This incentivizes users to actively contribute to the network’s liquidity.
3. App Points (Sonic Gems): Sonic Labs has also introduced a developer-focused segment of the airdrop called Sonic Gems. Participating apps can compete for Sonic Gems, which they can exchange for S tokens to reward their users through independent points programs.
Whitelisted Assets
To participate in the points program, users must choose from Sonic’s initial list of whitelisted assets, including scUSD, USDC.e, scETH, and other select tokens. These assets offer boosted multipliers during the program’s early stages to encourage rapid adoption, with the possibility of additional assets being whitelisted in the future.
Rings: Infusing Apps on Sonic With Liquidity
Central to Sonic’s liquidity strategy is Rings, a yield-bearing stablecoin protocol that allows users to mint scUSD or scETH by depositing stablecoins or ETH-based tokens. The collateral used to mint these tokens is sent to vaults on Ethereum, generating yield that is converted into scUSD and reinvested in DeFi apps on Sonic to enhance liquidity.
Airdrop Dashboard: All-in-One Hub
The Sonic points dashboard serves as a comprehensive platform where users can monitor their points, view participating apps, access whitelisted assets, generate referral codes for extra points, and track leaderboard rankings for both users and apps.
A New Approach to DeFi
Sonic’s multi-layered incentive system, combined with its high-performance infrastructure, marks a significant shift in the DeFi landscape. By offering innovative reward mechanisms through passive holding, active liquidity provision, and Sonic Gems, participants can contribute to deeper liquidity and broader DeFi adoption on the platform.
In conclusion, Sonic Labs is setting a new standard for DeFi with its dynamic opportunities for users and developers. The platform’s high performance, sub-second confirmation times, and secure gateway to Ethereum make it a premier destination for those seeking to engage with DeFi.
About Sonic
Sonic is an EVM L1 platform providing developers with attractive incentives and robust infrastructure for DeFi activities. With a focus on high performance and enhanced liquidity, Sonic aims to revolutionize the DeFi space and empower users and developers alike.
Contact
For more information, contact Sonic Labs at press@soniclabs.com.