Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Build on Sonic. Earn on CrossCurve: Drops, Rewards & More
Recorded: Aug. 13, 2025 Duration: 0:58:48Space Recording
Short Summary
In a recent discussion, leaders from Sonic and CrossCurve explored their strategic partnership, the impact of U.S. regulations on Ethereum, and the positive outlook for DeFi growth. They announced new initiatives aimed at enhancing user engagement and yield opportunities, alongside upcoming token launches and airdrop campaigns.
Full Transcription
Thank you. Thank you. You.
GM GM everyone welcome to our space called build on Sonic earn on cross curve drops rewards and much much more we have two really cool guests today that we might as well introduce right now
we have Michael Kong from Sonic he is the CEO and CEO of course there and we have Faraj Ambutalibov
the CBDO of cross curve hereve, here with us today.
Hi, guys.
How are you doing today?
Hey, it's going well.
How about yourself?
Hi, everyone.
Hi, everyone.
Great to see all of you.
all of you. Thank you for joining.
Thank you for joining.
All right. Let's just
call out the elephant in the room.
Yes, the markets are going crazy.
Yes, Michael.
Oh, nothing. Yeah.
Sorry. Go ahead.
I just say, Michael, no worries.
So, yeah, of course, there's
a lot going on um
and we will talk today a lot about uh what built on sonic means and of course
you know how uh you can build a you the listener can build a system for profitable farming and
lightnings press swaps uh thanks to crossCard on Sonic and many other things.
But first things first, I wanted to ask,
actually, Michael, you had your mic up most recently.
So I actually wanted to ask you,
I was originally going to ask
if you think ETH is going to break its all-time high in August.
But I'm going to change that question, obviously.
Do you think it's going to break its all-time high today? Because the way it's going, I don't even know anymore.
You know, it's always hard to predict where the market's going to go an hour, a day, a week later.
I don't know about today, but I wouldn't really be surprised if within the next few days, it would
do that. I think if I remember correctly, its previous all-time high was about 4.8 something thousand um an eath um obviously we're not that far from it
so i think it could be within just a few days at least but that's just my guess yeah i think it was
like just under 4.9 something like that and we really close to that, like 4.7 or something right now, right?
So let's, let's, I guess, talk about the impact on the actual DeFi and everything.
So I guess before we get into the meat of it, obviously ETH is pumping in part because of what's happening in U.S. with the regulations.
So Farajash maybe you can
shed some light on that uh the crypto friendly us legislation ethereum friendly uh us legislation
what kind of effect is it having on ethereum on stable coins and not just you know maybe possibly
pumping the price now i mean we're here really more concerned with the infrastructure with
the long term right so in the medium term in the long term uh for us what do you think
the effects of the legislation could be yeah in my opinion the effects of legislation definitely has
has like a big impact on the crypto.
We can see it with the current pump now.
But obviously, like entire crypto in general,
according to A16Z reports, state of crypto reports
that they usually have like annually,
the entire crypto ecosystems,
they grow tremendously during the cash injection points.
So, and this usually correspond with,
it used to be corresponding with low price of capital in the past,
like low interest rates but this time um or or maybe some retail
um push for the with lots of liquidity entering um the the markets but now it seems that one of the
major um like problem for crypto which was regulatory uncertainty which was like unfriendliness of SEC
towards crypto together with barriers for institutional capital to come in they seem to be
removed instantly or gradually over the last few months.
So this allowed for lots of capital and fresh capital to come into the markets,
not only through ETFs that also are increasing,
but also through public companies and even 401k and other instruments. So basically the players on the markets
are anticipating more liquidity.
And this actually in turn turns into like,
like pushing the prices of Ethereum to all time high.
And in general, the liquidity in the market corresponds with more
activity from founders, more activity from different foundations and in general the projects see
more funding so like the life comes back to crypto uh compared to like 2023 for example 2024 even
so and and feel free either of you to answer this or both for that matter
uh with all this liquidity coming in with these institutions coming in with the regulations
being crypto friendly with all of this happening now.
What does it mean for DeFi?
Does it change where DeFi is going?
I'll just leave it open.
What does this mean for DeFi?
I think it's generally positive for DeFi.
I mean, what we're seeing right now is typical market cycle, in my opinion so if you look at like the previous market cycles going back broadly
bull market 2020 2021 and 16 and 17 usually first of all had like an increase in bitcoin which
naturally makes sense the most well-known cryptocurrency or digital asset that's out there
it's one of the highest market cabin has always been been. And so a lot of people have put money into Bitcoin,
they've made profits, it's gone up,
and then they've rotated it to now Ethereum,
second biggest crypto market cap, obviously.
And I think they're going to go down the line.
And a major reason why this is happening
is what Raj just mentioned in that
there's just enormous amounts of cash
being injected into the ecosystem,
mainly from the US. A lot of it has to do with these equity leverage-based companies,
these so-called pipes, sentiment around ETP and ETFs, et cetera. And it just brought in an
enormous amount of money. And the higher the crypto prices go the more people want to
invest in these sorts of vehicles and if you're an institutional player you know you may find it
difficult technically speaking and legally speaking to invest in the cryptos just going
into an exchange and just buying them yourself and so you want to do that by institutional
products and that's exactly what pipes and etps and etfs are um so if you look at a lot of the
tokens that are going up in value um obviously mainly it's bitcoin and eith at the moment but
there's a few others going up starting to go up now it's because of that usa play it's because
of these institutional products and that's an area that um you know we're obviously getting into
very very shortly and um to answer your question now
about DeFi, I think overall it's positive for DeFi because first of all, more cash into the
ecosystem, higher crypto prices means more TVL and more opportunity for people to earn yield
when it comes to DeFi applications. You haven't, you've already seen like an increase in
Rave deposits, for example, overtaking the total issuance of USCC. I think for the first time ever, other DeFi protocols are lagging behind a bit, but they're starting to go up in TVO. And that to me is just a typical market cycle where I think probably the next lot of assets that are going to go up is just my guess is probably going to be defi related assets so
it's definitely very good and in terms of the regulatory environment it's also good because
obviously as a lot of people are aware um sec has put out new advice under this administration
saying that for example liquid staking tokens are no longer going to be considered securities
or they're not considered securities um that they main focus of the Justice Department and the SEC
is not to go after regulatory issues
or issues around whether something's a security or not,
but to more focus those resources on combating fraud
and stealing money, which, in my opinion,
is the right direction for them to be going into.
So, yeah, I think overall it's a very positive environment
and definitely will be for DeFi as well.
Absolutely.
I also agree with Michael in general that more liquidity on the market
and will be corresponding to more activity.
So historically, it's indeed higher prices of BTC
and was followed by alt season,
where profits from BTC would just outflow into the newer coins,
which would theoretically generate more upside than the Bitcoin.
And this would be basically, that's what we have seen in the past.
I mean, everyone is expecting it to happen this time as well.
So we can see it clearly with ETH. Just a few months ago,
it was crashing to 17, 1800 mark, and now it's close to all-time high today. So this
means also that the newer projects, the projects that are creating some new novel solutions,
would be more active on the market.
They would be coming and perhaps the venture capital markets
would be more active with funding those projects.
And those projects that we're building and that we're developing the solutions so the last few years they would be having a good
market to come out with their tokens and with their products and in general for defy more
liquidity means more yield and the ability to keep the fees lower
and more volume will result in higher interest
from different founders that due to the open source nature
of our industry could create like Lego bricks,
could create some kind of novel solutions
that would be competing in the future
with traditional finance systems.
And in the past,
DeFi was heavily criticized
for being like internal to crypto.
So only, you know,
crypto projects and crypto native users would would use defy and farm uh different protocol coins uh but currently what we see is
with institutions coming in uh there will be more and more interest from
those institutions to start adopting some of those DeFi applications into their systems.
Otherwise, you know, they would be outdated and outrun in the future. So I believe that
within this cycle, we will see this coming when the institutions will be starting to either entering DeFi or maybe even start with some kind of joint ventures or mergers where to basically grasp and put a hand on DeFi technologies overall. So this would possibly create some kind of
expirator effects over not only blue chip DeFi,
but on other DeFi companies as well.
So I'm very bullish in my opinion for DeFi ecosystem in general.
And like you said, it's really good broadcast i've been building this whole time and
obviously both sonic and cross carpet been building in every sort of market and building
hard and i want to hear from both uh what you've been building right so maybe start with sonic um
we have of course listeners here from both the sonic and cross curve communities
and just general listeners so for sonic for michael um obviously the partnership between sonic and
cross curve uh has begun quite a while ago so maybe there's something new you could certainly
there's something you could share with the crosscraft community and other listeners
or something that you could share with the CrossCraft community
and other listeners?
What should the community know?
What's Sonic been up to?
Spill some data.
So, well, on the product side, like, obviously, we're in L1.
So our objective is to build out the tools that developers need
to develop the applications for the network.
So one thing that we announced very recently was a testnet version
of the Ethereum Pectra upgrade. So that comes with a whole very recently was a testnet version of the Ethereum
Pectra upgrade. So that comes with a whole lot of benefits to consensus and speed, et cetera.
But on the developer side, it implements like Ethereum's account abstraction feature,
as well as different techniques to implement dynamic fees and gas subsidies and
combined with gas monetization as well which is
something that we've been talking about for a while now these are like ethereum based implementations
so there'll be more native implementations of those that are going to be coming out over the
next few months that will make it even easier for developers to add to their contracts but
now developers or on the testnet,
developers are able to set the fees
that they want to charge for their application.
So I anticipate that DeFi applications
will charge a lot more than currently
as a base fee for the network
just because people are earning more yield
and they're probably making fewer transactions
compared to say games,
which is more based on high
volume and lower transaction fees so it's just about like building out all the tools that people
need and there's a whole bunch of new DeFi applications that are deploying on the network
there's a couple of newer stable coins that are coming out there's a few perp platforms as well
some of which are very well known.
So that's pretty much what's been happening. And
with the future upgrade as well,
not only are we going to have those additional
native developer features,
but also come with a new consensus
as well. And I think that's important because a lot of
people say that the network is already
very fast, and it definitely is.
It's very fast, no matter the number of people that are using it.
If it's a lot of people at the moment or if it's few people, the network is very consistently fast.
But with the sorts of changes that developers will add into their code, it does slow down the applications a bit just because there's more checking that needs to be done when users submit a transaction, but we compensate that via making improvements
in other areas that will make the network a bit faster.
So the experience that people are having right now
on Sonic should be very consistent, basically forever.
Yeah, Sonic is obviously true to its name
and in my experience, it's a very fast network.
But like you said, you can never be too fast.
So understanding that the more developers develop and adapt and the more users use,
of course, the faster it needs to be.
And it's awesome.
Auto speed up to a point does matter. But if your application is already confirming a transaction, say in 0.8 seconds versus 0.9 seconds, the incremental improvement leads to diminishing returns.
Autospeed, you know, up to a point does matter.
Because to get speeds that are even faster than that, it just becomes exponentially more difficult from a technical point of view. So, you know, for people using the network, I don't think that or using other networks, I don't think they really care if the
transaction is confirmed in 0.8 seconds versus 0.9 or even like one second, as long as it feels
fast enough, because that's what really matters in the end is the user experience in terms of how
they feel. You know, people don't really care about the numbers when they go into Google and they're
typing the search results, right?
All they care about is, does it feel fast?
And are the results accurate?
And as long as you're achieving that level, then it doesn't really matter how your network
performs against other networks, as long as it just fulfills a minimum, I guess, feeling
for the end user.
Yeah, I totally agree with you.
UX is so important.
And the technical, you know, 0.1 second or even 0.05 is not as important
as the overall user experience and satisfaction, obviously,
which is great transition to talk about CrossCurve
because they are known for amazing UX.
And basically same question as I had for Michael.
So for us, what's new from CrossCurve
that you'd love to share with the Solana community,
with our listeners today?
I didn't check the number, but we have, oh,
over 2K listeners already, 2.3K,
and I'm sure there's more coming.
So what's new with CrossCurve?
What would you like to share?
So for us, we also believe that user experience is super important.
I mean, we have our across-cove metal layer, which basically we consider as all in one solution for transfers,
for bridging, for liquidity, like distribution.
In short, basically everyone needs to have an app
that they could use safely and fast to move their assets
without risking those assets to be stuck in the
bridge or if their liquidity provider to be lost due to the bridge hack. So we always were pushing
for like in the media that our consensus bridge solution is the safest in the market.
We still believe so. And we allow for transactions to be secured by multiple data bridges in the
protocol. So very soon that feature will come out with us. And at the same time we believe that any swaps should be cheap and the liquidity
fragmentation where there are more chains coming and with every chain you kind of fragment your
liquidity more and more and then you have high slippages which would be
like ultimately the final user is paying the price that's not efficient at all that's why
our architecture allows for using the curve pools that would are connecting the liquidity across
multiple chains creating very efficient swaps at At the same time, we're looking forward to add the various DEX aggregators
under our hope to be able to swap any asset to any asset cross-chain.
So there are a lot of volume that is happening for example on the
platforms like OneH who is our one of our investors as well but on the cross
chain side many people just rely on the simple bridges and rely on a single
bridge so basically are at risk and we believe that here we can disrupt that space by providing like
cheap and efficient cross-chain swaps with
advanced security if you require so right there's probably not a big issue if you're swapping like hundred dollars between different
chains you can rely on layer zero alone um or another bridge be it powers or wormhole uh but
when you're may making some significant swaps that that might be different so uh in the future we
also are targeting uh btc5 space we believe that that currently that's going to be a big market in the future.
So swapping BTC wrappers between each other,
which is already available on our platform,
but also going into the native,
connecting to Hyperliquid, which provides the deepest liquidity currently.
So in general, exploring various liquidity options,
we're always innovating to find the routes
and provide the routes that are better than our competition.
So despite we didn't raise so much capital
and we basically were building for four
years uh with competition coming from layer zero and xlr and other major players on the market and
chain link which raised hundreds of millions of dollars so uh just recently we we found that
our routes are cheaper than on the Stargate, right,
which is basically a layer zero.
So, and that's what we want to continue to provide to our community
and to anyone who is using CrossCurve and in the future to be added to the aggregators.
And so basically our API would be used and the product will have higher volumes
and this will result in higher revenues by protocol and this would be spilled over into the
token finally so that's that's what we are building i mean we are very technologically focused company and we have built a lot of technologies in the past and we have had like 4 billion in volume and without any single hack.
the products that would be serving the crypto community and at the same time
we are pushing forward for monetization and to get like our protocol to be profitable
so that's that's in short what we're building and what the news are but obviously there are way more
in our roadmap that will be issued shortly and
happy to share it with our community yeah thanks for that that is already a lot and
i'm sure we'll talk about more today and of course there's a social media channels i'll give
them shout out later but everyone listening of course follow farash of course, follow Faraj. Of course, follow Michael. You'll find a lot of very cool info there I have.
Let's talk about, so, you know, my feed is number one, of course, ETH.
And number two is built on Sonic.
It's trending for me, at least.
I'm sure it's trending for many others.
So, Michael, what is built on Sonic? Why is it going viral is it going viral what you know going deeper into it
what advantages does being built on sonic if projects what does it mean for your mission you
know for the broader mission of sonic tell us a bit about this yeah um built on sonic is a
social media campaign that we worked with a lot of our developers on the network. So we
reached out to them and said, hey, we want to do this push out. We want to blast social media.
Would you be able to retweet and comment on this build on Sonic campaign? And what it's really
supposed to emphasize are the developers on the network and why you should build on Sonic.
I outlined some of the reasons why
it's very fast it doesn't matter whether there's a lot of people using the network or not many
people at a particular point of time it's very consistent in its performance it's basically had
it's had no downtime um the confirmation times have always been extremely consistent um and
that's very important because if you're running an application,
you need to have the network running 24-7, basically.
Because if you don't have the network running consistently,
then you run into not just user experience issues,
but security issues as well.
There have been cases on other networks throughout the years
where oracles have not updated, networks has been clogged,
networks have gone down for a period of time,
and people's positions have been wiped out
because they haven't been able to access their positions
and monitor them or manage them.
And they've just been wiped out because, obviously,
even in just a few seconds, the markets can change very dramatically,
as we very well know in this space, and there's consequences.
And there have been protocols that haven't been able dramatically as we very well know in the space and there's consequences and there being protocols
that um haven't been able to update the oracles because uh the network has lagged behind and
they've accumulated significant amounts of bad debt that they've had to clear in other ways um
that's exactly what happened to make a dow i think maybe in 2020 when the markets were very volatile
i think they were down 20 or 30 million dollars bad debt, and they had to basically use the MakerDAO token to cover that loss in order to keep the protocol solvent.
So, you know, these are all very important reasons why you should build in Sonic.
But it's not just on the technology side that's important.
It's also on the network.
We announced, for example, 400k S token investment into Silo.
We'll be announcing a few more with other projects.
And we'll also have invested in up-and-coming stablecoins and a few other very interesting DeFi protocols that some people might know that will be having their native token on the Sonic network.
We also have, obviously, an airdrop campaign.
We concluded the season one on January the 18th.
We've got season two as well,
which will be based on your activity
within a variety of different protocols and games,
which obviously includes DeFi.
And so we're really ramping up the investment
into the ecosystem that, to be honest,
we were sort of slow about early on a few months ago, but now we're really ramping that up.
And in addition to that, we need to get more exposure in the narratives that really count at the moment, which is very USA focused.
So there's a lot more announcements coming out about that, that people should look forward to.
That's intriguing.
I'm looking forward to it
and I'm sure others are.
And of course,
CrossCurve is built on Sonic.
So Faraj,
what does it mean for CrossCurve
to be built on Sonic?
Can you talk about some of the advantages
and the experience?
Absolutely. So we were choosing very carefully where to have our hub chain because for our architecture we have a hub chain
and that hub chain actually works as a liquidity hub where we uh it's used for exchanges of the synthetic assets that we create to finality, quick finality, and resilient and reliable chain.
So back then when we were on Phantom, there were no points or anything like that, and we went there just for performance.
We were happily using it
until the Sonic came out and we
made the move to Sonic and
we were part
of the Sonic Boom program
where
season one
was contributing to the
liquidity providers and we
could allocate portions of those Sonic points to our liquidity providers.
That would be basically beneficial for us, for the TVL, for the protocol.
This was also beneficial for Sonic by having higher TVL, by having a large number of transactions, by bringing users as well.
So it was a win-win cooperation.
And this season, we continue this collaboration with Sonic.
This time, we are giving those points to the people who swap on our protocol.
So for those who bring the activity.
And that actually is natural progression so
first you attract users and then you kind of incentivize them for swapping uh on uh on our
platform so um basically uh in my opinion sonic did really well especially in the last year and this year with the launch, the technology is solid.
The team is very active in BD.
I've met Michael several times in various conferences,
always really great content on the panel discussions,
providing really great insights.
And I see that from the entire team that they're working tirelessly
to make a product
that will be providing
really, really good technology
for builders to build on L1.
So there are a lot of,
of course, discussions.
Do we need a lot of L1s or not?
I mean, if there's an ETH
and how do we differentiate like from ETH, L2s, etc.
But in my opinion, currently, Sonic is, like, one of the leading ecosystems in terms of
activity, in terms of the proper marketing and incentive support for young projects. So, yeah, for us building on Sonic, meaning that aligning those incentives
and rewarding our community and our liquidity providers,
our users who swap on us.
And, yeah, going forward and growing with upcoming bull market.
Hope for that at least
yes and you mentioned rewarding the community and of course you mentioned
and the the drop in the points and of course everyone is talking about sonics season two of
the airdrop um of course question for michael then um Now that season one has concluded and season two started, how is season two different from season one? What's sort of the main focus of season two?
or holding particular assets within a given protocol,
such as stablecoins, native USCC,
you would automatically earn points on those simply by holding.
By active points, we mean actually utilizing your assets
in some capacity on a DeFi application.
So it might be swapping it, it might be borrowing against it,
it might be doing looping or leveraging or a whole
bunch of like other activities so it's something that you have to like act it's where you actively
deploy your assets um which is no surprise considering they're called like active points
right with season two we don't have passive points anymore we only have active points the reason why
we don't have passive points is because season one's objective was to get tvl onto the chain particularly stable coins to basically have
a base that's needed for to have a successful um defy ecosystem because um to have a successful
defy ecosystem you need first and foremost liquidity without liquidity you can't do lending
or borrowing you can't do perps effectively you can't do lending or borrowing. You can't do
perps effectively. You can't do a whole bunch of other activity. So you need that liquidity,
which is why we incentivize to get that liquidity on board. But now we have a lot of that liquidity.
The next thing that we need to do is deploy that liquidity. And that's why there's more focus on
activity points. A lot of people over time ask me, oh, can you share with me the criteria to get activity points or get passive points, et cetera?
And we don't release the full criteria or the entire formulae simply because if we were to do that and make it public, then it'll be easier to game.
People would just optimize for what gives it the most and find loopholes and
that's not really beneficial for the network because people are just exploiting a point system
then they're basically just making money for themselves without really contributing much to
the network so that's why we're not like um we don't disclose the full formulae or exactly how
it works but i can say in general you know there's a variety of different activity points multipliers
if you go into cross curve you go into silo points, multipliers, if you go into cross curve, you go into silo, if you go into shadow,
if you go into a bunch of different assets, you can kind of like see what those multipliers are.
And obviously, the higher the multiplier, the more activity points you can earn. And there's
a lot of different strategies that are out there. A lot of people should follow Johan's account on X. So he is basically our head DeFi guy.
He is X Polygon.
He ran the DeFi teams over there.
Now he does it for us.
And if you look at his post, he is very transparent about a whole bunch of strategies that he himself has engaged in that look very interesting to him.
And so if you go into his X account, you'll see
different looping strategies, different DeFi strategies, and those ones generally are geared
towards maximizing your deposits, right? Getting the best return you can, which obviously also
helps the ecosystem as well, because participating in these activities adds more liquidity across different
protocols, which is what you need. So, you know, I would follow, you know, his account, I would look
at what we also post and share, and I would also look at just a variety of different accounts
related to the applications that are deployed on the network because they love sharing different
strategies. Thanks, Michael. You just answered multiple questions that I had about deployed on the network because they love sharing different strategies
thanks michael you just answered multiple questions that i had about the drop uh and i'm just going to go follow your account and of course sonic's account and i really resonated with
the um with the partner stuff right to go and interact with those are partners sonic of course cross
curve is a big partner of sonic so faraj how can cross curve users participate in sonic's
season two airdrop absolutely so um
the users can participate as mich mentioned, for active swaps,
for making sure that there are swaps happening between different chains.
Because each time the swap is having, even if it is between Arbitrum and Ethereum or any other chain,
Arbitrum and Ethereum or any other chain because our pools are located on Sonic the transactions
within our pools are happening and those points will be taken into account and then
given to the people who are swapping or perform those swaps so that's in short how the basically active participants.
We obviously have our own clients program
and our own incentives coming for all sorts of actions,
like, for example, for liquidity providers and for other things.
So just keep referring to our website our website is always uh updated with uh all the latest um multipliers that we for
example uh do for specific activities on our platform uh and also sometimes there is some
on our platform.
And also sometimes there is some
campaigns by our partners
plus us.
So you can unlock
additional points from our partners.
So, yeah.
I mean,
in short,
for season two
of the points of Sonic
it's going to be for active swaps.
And at the same time
other options of earning
points and all the
information is on our website.
That's very exciting. If you can
share anything else about
programs happening
or coming to CrossCurve,
happy to listen
to it
yeah i mean we always we always are uh looking for uh finding additional uh interesting um
like interesting uh programs to share with our partners and giving additional um
additional points for the people to,
and provide additional value for our community.
But really, in short,
just our Twitter usually is also saying something
about the points that we, as a team,
try to create.
For example, for this season
it's doubling the rewards
coming from Sonic and 3D
and 3D
X RINX protocol
you can basically go and get those
points for the
liquidity providers and for
and for any other and also for the people who and for any other,
and also for the people who make swaps.
So that's the easiest way to follow our latest developments
on the point system.
So it's a website and our Twitter account.
Totally fair.
Yeah, definitely a good idea to follow that,
to follow Faraja's account, of course,
to follow Michael's account, Johan's account.
Every account mentioned here is worth following, trust me.
I know everybody wants to hear about the airdrop,
and you'll hear more about all kinds of rewards
from both Sonic and CrossCurve from the socials.
But, you know, both projects are very active in building out their products.
You heard a little bit in the intro.
So I would like to take the attention back to the product side of it and maybe, you know, start again with Michael in terms of, you know, maybe lifting the curtain up a little bit about what the Sonic ecosystem is focusing on in the near future,
where you have cooking that maybe hasn't even been announced yet or it's just been rumored or anything you want to share with the audience that you can share with the audience.
Yeah, there's a lot of stuff that's cooking.
Some of it I can't really talk about now, but I think a lot of people will really like that stuff.
Andre's working very hard, et cetera.
But on the infrastructure side, I sort of already outlined some of what we're already working on.
working on. So we're working on, we've got a new consensus deploy, we've got a new consensus
So we're working on, we've got a new consensus deploy.
created that's, a lot of it is mathematically proven, that's been tested extensively.
We've got the Pectra upgrade that's just released on the testnet. So we're working with different
RPC providers and explorers to change that, to change the new testnet. We'll be testing that out for
about a week or two, and then we'll be deploying, start to deploy the upgrade onto the main network
as well. So people should see performance improve even more and to be able to start taking advantage
of those account abstraction, dynamic fees, gas subsidies, features, et cetera. We're working through the documentation as well that we're going to be putting out.
We've got, we also just did a post
about what we call Spawn on Sonic,
which is about an AI way of deploying an application
directly onto the Sonic network.
So for example, you're like writing the query in English
that you want an application that, you know an application that is a DeFi-based application that you can lend and borrow on, and then the AI will automatically create that for you.
Right now, the applications that it can create are not extremely sophisticated, to be honest, but we're working on making those applications a lot more sophisticated and to have automatic bug checking as well.
making those applications a lot more sophisticated and to have automatic bug checking as well.
Not that, you know, it means that these applications will be absolutely foolproof,
but it'll be a lot easier for people and non-coders to experiment with the sonic network
by just simply asking an AI to build its stuff and to automatically deploy on the network.
So we should see a lot more tokens and memes and just like random stuff that people like to do to deploy
on the network to play around with and i'm sure some of it will eventually take off um there'll
be a lot more announcements as well with this um sonic spawn technology um that that we've been
creating so that's gonna that's a very like big ai play that's going to be deeply integrated
into the Sonic network.
And we will likely spin that off into its own separate company or product.
Wow.
Even the things you were able to talk about were a lot and very useful to know for anyone paying attention.
I can only imagine the things you couldn't talk about.
But, you know, leave that for the day you can but now
let's ask the same question of raj and what are some big product updates coming up for curve
for cross curve that you would like to share
Yeah, I believe, uh, protocol updates wise, we are moving towards, uh, having our consensus
bridge rollout.
Uh, we have an upgrade in our protocol, which allows, uh, for the connectivity to other
bridges and, um, um, like not only making a consensus bridge out of them,
but also our router has a great update
with basically being able to select any bridge that,
for example, in our opinion,
USDT and USDC circle bridge and USDT0 type bridges
actually will be like standard bridges for the stablecoins.
And by with us having this router update, we will be able to offer even better rates for cross-chain swaps.
better rates for cross-chain swaps.
By adding DEX aggregators in the play, we would make it like for the final users, the
extreme UX UI by basically not needing to leave our platform for swap any token to
our platform for swap any token to any other token so in short there is a lot of things that
another token.
we're planning to add to our platform as i already mentioned on previously on bitcoin native swaps
for example and having low costs for the bitcoin swaps and this would be basically putting
us in a direct competition with Torchain which has like several billion dollars in volume and
that basically allows us to compete in a larger scale and reinvest in the product and deliver more interesting features to people.
So we're also exploring a few other things,
such as becoming and building some infrastructure for resolvers
in various intent-based protocols.
So that's in the research phase for us.
But there's a possibility that there will be some great announcements there in the future.
So other than that, really in our opinion, it's just to continue, deliver and sustain
the protocol that delivers value and that provides the high level of security
that currently exists in DeFi
and also provides efficiency
in terms of liquidity defragmentation.
So that's, for us, it's very important.
And continue being the good friend of Curve ecosystem
and support Curve in whatever they do and as an official friend of Curve ecosystem and support Curve in whatever they do,
and it's an official bridge of Curve.
Yes, it's definitely important to have even more security and even more liquidity,
sort of unification, efficiency, and availability in DeFi to make it a unified, strong space.
And CrossCurve, of course course is at the forefront of that and
curve is powering it of course and sonic hub chains also powering it's a very good partnership
here uh we're kind of running against the hour here so i'll um move us a bit to the conclusion
round really just a few more thoughts from you guys.
Let's keep it light.
Let's keep it fun and be useful.
So for Sonic, of course, the question everyone's asking me,
I'm just going to ask it to you, Michael,
and up to you whether you want to answer it or not.
But will there be a season three of the airdrop?
a season three of the airdrop not planned right now
Not planned right now.
that's a very brief and honest answer i appreciate that
and in the meantime of course there's season two and there's of course uh ways to earn the
cross curve that raj mentioned there's also uh I heard rumors of a MetaPoints
program that's giving cross curve users a chance to earn more as tokens and airdrop.
But just sort of broadly speaking, you know, kind of bringing us to the beginning where
ETH is pumping, the market is going wild, maybe it's going to drop tomorrow, maybe it's
going to keep going. Some people are all in on ETH, some people are getting ready to move into
stables or maybe already are moving into stables. For all of these strategies, and Faraj, I would
like you to answer it if you don't mind. For all the different strategies, for all the different
assets that people are going into um specifically the farmers
how can they get that extra yield and still preserve this strategy whether it's ease whether
it's tables whether it's something else what's the way for them to optimize their earnings
so in my opinion um there are like few uh few ways to optimize the earnings first of all is to clearly and i'm i'm a person
with 15 years of traditional uh oil and gas uh experience and that moved into crypto so
i always kind of try to put my traditional finance uh hat on on when answering the questions on personal finance or giving
recommendations and anything and for sure it's not a financial advice to anyone but
first of all everyone needs to understand their risk profile so if you are doing farming
best is to understand do you do it professionally
how much time you have to
put for that
is attention
is your attention and your time
is adequate for the
portion of
capital of your total worth
that sits in the
in the
account and also is your skills that sits in the account?
And also, is your skills are adequate for this?
So perhaps if you would just go with some hedge fund or automated protocol
that would just auto-compound your earnings,
you would be in a way better position
than trying to run after some high APR deals
and risk of losing the capital in those deals,
either by hack or by just doing something wrong with the capital and then getting lower interest
compared to just investing in some safer assets.
So that's one.
Second one is, in my opinion,
every person should take a long-term approach
towards investments.
If you are playing and trying to just approach crypto as a casino,
you likely might win big, but you might lose big as well.
So everyone needs to understand that.
I want you to understand that.
So I'm always very cautious about giving some advice.
So I'm always very cautious about giving some advice.
For me, staying on the safest strategies always works best.
For example, I personally do a little bit of staking,
a little bit of farming,
and obviously holding BTC and ETH.
and obviously holding BTC and ETH.
But I've not actively trade in or leverage myself
or loop myself into, especially on the new protocols.
And I'm not the first person to suggest anything other than
that.
There are definitely better people that could do this
michael maybe you have some some interesting strategies that uh that people can uh or maybe
you would comment on my thoughts yeah i i don't really want to give out like specific advice um
but i i actually would you say like it really depends on your risk profile right just like it
it it is the case in normal traditional finance i mean if you're holding if the safest and simplest
way to earn a return is to basically just take it you know take it on a reliable validator
there's a number of them out there that's very low risk compared to like other things that you
can do obviously the risk is not zero technically but it is like very low risk and you earn like at least a few percent
on there um i personally for example have um uh put money into like liquid staking protocols like
ste for example so that also in my opinion is relatively low risk on the lido protocol you just take your if there's
a lot of you know you get this st if and then you use the st if the or the liquid staking derivative
or liquid staking token in in other aspects lending and borrowing it for example is a
another like simple strategy where you just lend out the asset you can earn an interest rate for
example like rve or on other networks um but if
you wanted to go more degen or more risky i mean obviously you could just borrow against an asset
and just like leverage it up right just do a loop um you could trade curbs on it you could do all
sorts of like crazy stuff on it but me personally you know i don't really have much time trading um
i've got a full-time job at sonic and I've been here for over seven years.
So I just really work on that and just invest more passively.
But again, it just really depends on your risk profile.
But if I was holding ETH, I would at least stake it.
I don't really see a reason why you would just hold ETH and not really do anything with it.
So if you are legally in a vehicle or whatever able to stake it,
I would at least do that.
Yeah, I completely agree.
Completely agree with that.
And of course,
to wrap this up
and to kind of summarize,
as you guys heard, there's
a drop campaign going with Sonic.
It includes activities for all kinds of staking and other uses of ETH or tables or whatever it is.
And CrossCurb is part of that.
And of course, on CrossCurb, there are ETH pools, there's table pools, there's other pools for pretty much any strategy. So like Michael said, and like Faraj said,
figure out your profile, figure out your goals
and see what's out there.
But certainly partnerships like these are very informative.
And I'm sure a lot of people,
and we have over 3,000 people listening right now,
three and a half even,'ve taken some lessons from that.
And so just kind of to wrap it up finally, as we're coming up against the hour,
remember, whatever the market's doing, and it will be well for a while, very likely,
projects that are building on Sonic and allowing people to earn on it or through it. Of course, the cross curve is exactly that kind of project.
Uh, we'll keep building, we'll keep working and, uh, I'm looking forward to
how this partnership will continue to develop.
Uh, thank you both, uh, Faraj, Michael, thank you both for tuning in.
Guys, whoever's listening, uh, either live or recorded.
Follow Michael, follow Faraj, follow Sonic, follow CrossCurve,
follow Johan's account.
Hope this was useful.
This is very interesting to me.
I love talking to you guys.
Till next time.
Thanks a lot, CrossCurve.
Yeah, really appreciate it.
Thanks a lot.
Yeah, thank you very much, guys.
Host
CrossCurve
from
Eywa
