Sonic Labs Introduces Innovative Points Program to Drive DeFi Growth and User Rewards

admin7 hours ago

George Town, Cayman Islands, January 14, 2025, Chainwire

Sonic Labs today announced the launch of its Points Program, an innovative incentive framework designed to reward users and drive the growth of DeFi at Sonic.

The program will distribute approximately 200 million S tokens as part of the S Airdrop through a multi-layered approach combining passive asset holdings, active liquidity distribution, and developer-driven “Sonic Gems.”

This initiative positions Sonic as the premier hub for DeFi enthusiasts and new users, providing an ecosystem for users to enhance the utility and opportunities for their assets.

three types of points

The Sonic Points Program offers users a variety of opportunities to earn points.

1. Passive points

Users can earn passive points by storing whitelisted assets in a Web3 wallet or hardware wallet such as Rabby or MetaMask, but this excludes assets stored on central exchanges.

2. Activity points

In addition to passive points, users can also earn activity points if they choose to distribute whitelisted assets as liquidity to participating apps, such as DEXs, lending protocols, or other apps. This approach incentivizes users who actively contribute to the liquidity of the network.

3. App Points (Sonic Gems)

In addition to the user-centric portion of the airdrop, Sonic Labs has designed a developer-centric portion where participating apps compete for allocations known as Sonic Gems. Apps can exchange these gems for S tokens, which can then be distributed as rewards to users through an independent points program.

By controlling token distribution, apps can design customized points programs by incorporating weights based on the total liquidity provided by the user or the duration of the capital deployment. The competitive aspect of Sonic Gems allows users to optimize their capital growth opportunities within the ecosystem by strategically selecting apps that demonstrate strong Gems earning potential and offer well-structured points programs.

whitelist assets

To earn points, users must select from Sonic’s initial list of whitelisted assets, ranging from scUSD, USDC.e, and scETH to other select tokens. In particular, the asset boosted the multiplier in the early stages of the points program, driving rapid adoption.

Additional assets may be added to the whitelist in the future to ensure the continued development of the ecosystem.

Rings: Injecting Liquid Apps into Sonic

An important element of Sonic’s liquidity strategy is Rings, a yielding stablecoin protocol. By depositing stablecoins or ETH-based tokens, users can mint scUSD or scETH (both whitelisted assets).

While these tokens are distributed on Sonic, the collateral used to issue them is transferred to a vault on Ethereum operated by Veda, generating revenue. The yield generated is periodically converted to scUSD and back to Sonic to be distributed as liquidity injections to DeFi apps.

These circular flows not only amplify users’ earning potential, but also provide steady liquidity inflows to Sonic’s DeFi apps, ensuring deep liquidity pools, stronger lending markets, and an overall healthy DeFi environment.

Rings is a third party project and is not affiliated with Sonic Labs. Users can learn more about Ring here.

Airdrop Dashboard: All-in-one hub

The Sonic Points Dashboard is a comprehensive platform that allows users to:

Check your accumulated points
Check out the list of participating apps
Import whitelisted assets through a simple interface.
Generate a referral code and share it with your friends to get extra points
View leaderboards showing points and gems earned by users and apps

A new approach to DeFi

The Sonic Points program highlights Sonic Labs’ commitment to providing diverse opportunities to users and developers. Passive holdings, active liquidity provision, and Sonic Gems enable participants to access innovative reward mechanisms while driving deeper liquidity and broader DeFi adoption on the platform.

Overall, Sonic’s multi-layered incentive system and high-performance infrastructure sets a new standard and positions the chain as a premier DeFi hub.

Introduction to Sonic

Sonic is a high-performance EVM L1 platform that provides developers with attractive incentives and robust infrastructure for DeFi. The chain offers 10,000 TPS, sub-second confirmation times, and a secure gateway to Ethereum for improved liquidity and asset security.