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Ethereum OGs on Sonic: DeFi Yield & Sonic Points
Recorded: April 24, 2025 Duration: 0:45:28Space Recording
Short Summary
Sonic Labs is making waves in the DeFi space with strategic partnerships and innovative product launches, including a new liquid staking token and a robust rewards program. With over $100 million in deposits and a focus on sustainable growth, the Sonic ecosystem is poised for significant expansion.
Full Transcription
Thank you. Hi, everybody. We're going to get started in just a minute here. We're waiting for all of our speakers to get on stage, and then we'll start our discussion.
discussion. Today we will have a moderator from Sonic Labs, Luis, joining us, and then we have
Micah from Origin Protocol, GPMS from Beefy Finance, as well as Lee from Euler Finance. So
once they all get up on stage, we'll get everyone? Can you guys hear me?
Hey, yeah, we can hear you well. GM, Luis.
GM, Ryan, how are you doing?
Doing well. How are you?
I'm great. I'm excited for this space.
And I love the title, too.
Ethereum OGs on Sonic.
So it should be good.
And, yeah, I think we've got some powerhouse teams here.
And we'll get started shortly.
All right, Luis.
Yeah, I'll let you take the stage.
We have all of our speakers up.
So whenever you're ready to get started, I think we can kick things off.
I see our audience is growing quite quickly here.
Okay, awesome.
Awesome.
All righty.
So all right, guys.
So my name is Luis Fausto.
I am part of the marketing team on Sonic Labs. I do a little bit of everything in terms of content, outreach, a little bit of BD,
mainly like connecting teams to BD. And if you follow me on my personal, I simply just highlight
what's going on in the ecosystem as much as I can, whether that be like yield strategies,
very simple. I'm a very pragmatic, very passive investor myself. So I like to do the easy stuff while still earning yield and experiencing DeFi. But nonetheless, very focused on education and onboarding others as much as I can. I know all of us here are pretty much doing that in different forms. So we have a fantastic team. I work closely with Ash on the marketing side. Our BD team is stacked.
So if you are building on Sonic, reach out to me, reach out to the team, and we'll get you sorted.
Today we have Origin, Beefy, and Euler joining us today.
I see that GPMS is up here from Beefy, Lee from Euler, and Micah from Origin.
So I'm going to start on the order that I see for introductions.
We'll start with GPMS from Beefy.
Yeah.
Hello to everyone.
What's up, Luis?
Glad to be here and just glad to kick it out with some of our partners on Sonic and looking forward.
My name is GPMS.
I work at BD, as BD in Bifi.
And yeah, that's my introduction.
Awesome.
Yeah, we'll get more into the nitty gritty stuff as we progress through this panel.
But thank you so much for being here, GPMS.
Next, we got Lee from Euler.
How are you doing?
Hey, guys.
I'm good.
Great to be here.
Thanks for having us.
I've been at Euler just under three years now.
Do a little bit of everything, some stuff on the smart contract engineering team, some
stuff on non-smart contract engineering, and then some stuff on the BD and partnership
and integration work.
So, yeah yeah very excited about
you know how things have gone for us on sonic and you know excited to be uh up here talking
about it today awesome lee and and i used to call it euler but then you guys did that post
that funny post where you guys on the ui is like change it to oiler so just a little fun fact it's
oiler yeah yeah it is uh it is oiler uh but know, we kind of go 50-50 on what we hear from people.
So, yeah, like to play around with it a little bit.
I love it.
I love it.
Thanks for being here, Lee.
And last but certainly not least, we got Micah from Origin.
How are you doing, Micah?
Doing great.
Very happy to be here.
Very happy to be on Sonic as both a user and a builder.
I am involved in the leadership team at Origin. I've been here since
dinosaur times, as the kids say. 2018, I think, is when I started contributing as an open source
engineer. And Origin has been a great ride. It's a great team of really good people. And we're seeing, you know,
a lot more of that in the Sonic ecosystem too.
And so we're really excited.
Amazing, Micah.
Thank you so much for being here.
2018, you're a certified OG for sure.
I know plenty of us in here are.
So thanks for building the space
and pushing things forward
with all your guys' products.
So how this panel will work,
as you know, I'm your moderator, I got a list of questions here.
Shout out to Ryan for kind of collating those and putting those together.
What we'll do is I'll ask the question.
I'll have all three of you guys answer it.
I could call you guys out. If you do need me to restate the question, please feel free to let me know.
And we'll have a nice flow.
I'll probably like halfway through. I'll make sure I'll keep a pulse on the time. That way we, you know, we're
here efficiently and effectively. And I'll cut halfway through just to give people an update,
maybe new listeners come on, but it'll be very, very smooth panel here. So that said, I'll start
with the first question and we'll start with the GPMS uh and we'll start with the gpms from beefy explain what
the project builds on ethereum now and what they've come to sonic with sure sure so uh the whole
point of beefy is basically out of company rewards so we are a geo optimizer. We auto compound rewards that the users get in farms
or in NLP lending protocols and all those kinds of things. So they have to just basically deposit
and forget. That's one of our mottos. We also have built the CLM, which is a concentrated
liquidity manager for users that want to deposit liquidity into B3 pools and farms and don't want to actively manage ranges,
which is a kind of time consuming activity for users that are not so hardware like myself and I'm pretty sure a lot of people here.
So, yeah, we came to Sonic as partners.
Obviously, we had a pretty good relation with basically all of the team since Phantom.
We had a big community on that side.
And yeah, that's one of the main reasons that we came to Sonic.
A lot of DeFi opportunities.
I think a lot of people are going to basically be in the same line as me as like basically Sonic, I feel like revived DeFi.
So how not be in the chain that everybody is doing DeFi and the community is like 100% up to it.
So that's a big opportunity. And I think
that's what gets the people into Sonic. Absolutely. Thank you for sharing that.
Lee, we'll go with you next. Yeah, definitely. So Euler is a lending protocol. And it's really
more than a lending protocol. It's a lending protocol development kit as well. So Euler is a modular, flexible product
that allows kind of market curators and creators
to come and construct any sort of lending market
that they want.
So that can be anything from a fully connected,
you know, multi-plateral system to isolated pairs
or everything in between.
We've been on Sonic for a few months now,
and I've seen some pretty good success.
We're right around $100 million in deposits there.
We've had a really great experience working with the Sonic team and the Sonic community.
Like we were just saying, it really feels like it's brought some fun spark and some life back to the DeFi ecosystem,
system, being parts of the point system, the gem system.
being parts of the point system, the gem system.
And yeah, we've had a really great experience and excited to kind of see where things continue
to grow for us and for the ecosystem as a whole.
Absolutely.
And you mentioned the gem program.
We'll talk about that later on in this panel.
But thank you so much, Lee.
Micah, go ahead.
Cool.
So I like to say that Origin builds uh yield products for smart money what that means
is you know we have a lot of conservative uh building blocks that um you know you can just
hold like the yield generating stable coin is the thing that we invented first in uh defy summer of
2020 um and then we've taken that same code base and it's evolved over the years to create
liquid staking token on Ethereum, that's OETH. Of course, the liquid staking token on Sonic,
that's OS. And you can just hold those and get super safe, conservative yield passively
without really doing anything. But thanks to really cool integrations with protocols like Euler,
you can also opt in to more interesting DeFi games
and get substantially higher yield,
knowing all along that the underlying building block
is safe and secure, first and foremost,
and consistent as far as yield is concerned and built by a
doxed team that's been around for more years than I can count at this point.
We have another yield product on Ethereum that's kind of novel.
We call the ARM Automated Redemption Manager.
And I'll probably talk about that a little bit more later.
But I guess all that to say that we're doing lots of different things
that all started on Ethereum many years ago, even before DeFi existed.
And we hope to bring more of that to Sonic pretty soon.
Amazing.
Well, I want to personally thank you on behalf of the whole
sonic labs team thanks for for building and bringing your innovative products onto sonic
uh the next questions um is is mainly around the opportunity uh that led you guys here so what
opportunities led you to come to sonic uh we'll start again with gpms uh yeah uh well uh kind of same uh points i i said in the
previous answer so uh i think the biggest opportunity is the community uh which is basically
uh all the people which utilizes the the blockchain and the projects and and the platforms and all that, which Sonic has one of the most
fundamental and I think DeFi oriented community. And also how the blockchain is designed,
it allows us to basically use our products way faster and without paying so much fees, specifically in the CLM,
which managed ranges in B3, part of one of the product suites that Bifee offers. It makes us
kind of be able to function without spending much fee.
So that translates into more money for the users.
So, yeah, that's one of the things that we look at.
Amazing. Amazing. Thank you so much.
Go ahead, Michael. We'll go with you next.
Okay.
Well, I mean, it kind of feels like because we have all this history from DeFi summer back in 2020,
that's when Andre of Sonic fame initially launched Yearn.
Yearn was a big inspiration for our yield generating stable coin that we invented back then.
So it's almost like, you know, if you care about DeFi,
you got to be on Sonic. That was how we felt late last year when all of this was announced.
And so we started, you know, talking to some protocols that we had worked with on other
chains, just kind of asking around, oh, what are your plans? And it was like, everybody was
singularly focused on Sonic. It's like, oh, you got to plans? And it was like everybody was singularly focused on Sonic.
It's like, oh, you got to be on Sonic.
Like, why would you not be there?
They're going to have this, you know, really interesting points campaign
that I think, you know, I personally think is designed in such a way
that it's going to be much more sustainable and have a lot more,
it's going to lead to a lot more long-term adoption
than what we've seen on some of the other L2s, for example.
So that was all the reason to start the conversation with the Sonic team.
And then once we did that, everything just fell into place because we realized how supportive the Sonic team was compared to some of the other chains that we've been on and how
cooperative and supportive the whole ecosystem is. It's just a much better experience
building on Sonic than some other places, not to mention the user experience that everyone
ends up with. So lots of reasons to come
here and it's it's worked out really well for everybody thank you Mike and it
looks like we lost Lee up here I see the order labs account up here not sure if
leads behind that but we'll wait for lead to come back up and we'll hear from
him as well but I just want to tell the audience you heard it here first you got
a build on Sonic go tell your friends about it uh we got origin and a beefy
building on sonic uh talking about the experience and which is a good segue to the next question
where you guys could dive a little bit more in depth i know you guys have alluded to it already
in the last few questions uh in your answers uh but the question is is there anything on sonic
that enables you that you couldn't easily do on ethereum mainnet or other chains uh we'll go
back uh with micah and then we'll go back with gpms lee uh welcome back lee i'll get back to you
i can uh i can jump back on the previous question if you want or sure actually sure um go for it
yeah i think really what what you know brought us to something we were talking about before is really
a uh you know kind of an excitement about the chain and excitement about the team
and excitement about what was going on with the plan
to sort of make it very DeFi focused,
make it very friendly to users,
make it exciting to incentivize and stay around long-term.
We as a protocol like to work with kind of strong chains
and strong teams that we see sort of a long-term
sustainable growth and activity
and not just sort of one-off flash in the pan, which, you know, Sonic so far has been great for something that we see sticking around for a while.
And, you know, as others were saying, as we were launching and kind of post-launch, it was sort of all the rage and all anyone was talking about was, you know, what are you doing on Sonic?
Sonic, are you coming to Sonic? Are you there? And how's it going? And yeah, we really think
Are you coming to Sonic? Are you there? And how's it going?
it's sort of a really great fit sort of community for the things that we're trying to do here at
Oiler. Thank you, Lee. Thank you so much for sharing that. And yeah, I'll reiterate the next
question regarding essentially, is there anything that Sonic enables you to do
that you couldn't easily do on Ethereum mainnet
or any other chains?
We'll go with Micah,
and then I'll go with GPMS,
and then Lee once again.
Yeah, I like what Beefy was saying
about the concentrated liquidity management
being more effective
when you can just constantly be updating your position
with such fast and cheap transactions.
But I won't steal their thunder. It'd be great to hear more about that.
The thing that comes to mind for me just as a user is leverage staking, as I call it, on a protocol like Euler.
So this is a classic looping with correlated assets where you take OS, for example, use it as collateral to borrow S, and then you use that S to mint more OS and just keep repeating that loop.
And you're able to safely lever up your position and get much higher yield than you would get just holding OS in that case.
You can certainly do this on any
chain. You can do this on Ethereum. But these positions, you need to manage them proactively.
And so at times you need to be levering up and levering down regularly. And if you try to do that on a chain like Ethereum,
it just gets like, like, it's so much work, it takes so much time for the transactions to process.
And it can be, you know, prohibitively expensive, especially, you know, times when,
when the gas price is super high. And you don't have any control over that, you don't,
you don't know when gas is going to spike. So, you user, as much as I hate to say it because I love Ethereum and we have such a long history with the chain, I just don't open those positions anymore on Ethereum.
It doesn't matter how lucrative they appear to be.
I just don't want to get stuck in that position where I can't close it.
And I know that on Sonic, you know, I've done this many times on Euler and other protocols where I can wind it up, wind it down, just however frequently I want to go through the process of submitting the transactions.
And it's like, I don't even think about how long it'll take to process or how much I'll pay for the gas.
It's just a non-issue.
It's like Web 2 almost.
Well, thank you for sharing, Micah.
We'll go with GP gpms next and lee uh yeah so uh
as mike has said uh one of the most uh i don't know objective things that that i can say is
especially uh talking about or clm which uh is the same as he does i respect obviously uh ethereum i
which is the same as he does.
I respect, obviously, Ethereum.
I love our history together.
But sadly, for example, the CLM is not a product that you can deploy on Ethereum.
Just because of the same things, gas is too costly.
You don't know when it's going to spike.
you don't know when it's gonna spike,
you can be sure of things that you will have to do
in a timely manner to get done in the time that you need.
So with Sonic, that doesn't happen.
Sonic is very fast.
It's obviously and always very cheap.
So it's something that you can count on.
And for our CLM, which manages active B3 position
between ranges that changes automatically
as the liquidity pool goes,
we need that resilience and that speed.
And obviously to not be too costly
for us to maintain a position inside
and in the place that we want at the time that
we wish. So that's something that we have been able to deploy and maintain easily on Sonic,
and it's just looking better every day. Thank you for sharing, and go ahead, Lee.
Thank you for sharing and go ahead, Lee.
Yeah, I think really, you know, it's sort of things that have already been touched on.
So, you know, as Michael was saying, for kind of the lending and the yield looping side, it's great to be able to, you know, take a yield bearing asset, loop it against a non-yield bearing asset, loop that up very quickly, very cheaply with um with you know very cheap mechanisms to adjust those
positions when you need to when you want to and new opportunities arise etc and not worry about
you know paying hundreds of dollars in gas potentially on the the in and out on each side
i think the other thing that's sort of you know is a carry-on effect from that is on things like
liquidations for instance on oiler um you know, if people are sort of
unfamiliar, we have kind of a unique liquidation mechanism where there's a scaling bonus as
positions go, you know, become unhealthy. And the reason for that is basically as soon as it
becomes profitability, profitable from a gas standpoint, the liquidation can get executed.
So on a chain like Sonic, where gas is very cheap,
pretty much negligent, it means that liquidations can happen at almost non-zero cost to the borrower.
So that makes it kind of more efficient
and you're less likely to kind of get really hurt
on any liquidations happening.
So that's, I think, been great for us as well.
And we've seen that with the ability
to put on more highly leveraged positions
or, you know, be able to exit those in a safer way.
Well, thank you so much for all for sharing
the ways that Sonic enable you guys
to continue expanding and offering your products,
obviously to the Sonic community
and the crypto enthusiasts, of course.
I do want to take this moment to thank everyone here.
We had 100 listeners. We're almost back to 100 listeners. Thank you so much for all being
here. We're here with Euler, Origin, and Beefy, GPMS, Lee, Micah, talking all things about DeFi,
Sonic, and give a shout out to all these OG protocols. Let's give them 100s.
And thank you all for tuning in.
The next question is more regarding, obviously,
launching on Sonic, right?
How has the Sonic ecosystem responded to your launch?
And are there any major collaborations or integrations
that have driven growth?
We'll go ahead and start with you, Lee.
Yeah, I think there's been a few.
I mean, Origin has, of course, been a big one.
We've got a few million of OS and wrapped OS on the platform,
which has been great.
We've had some integrations coming or in progress with Beats and Rings.
And, again, really, it's been a lot with the team.
And we're working with Shadow as well on some liquidity pool related things.
Yeah, those have been the big ones.
It's really been a collaborative effort between us and the Sonic Labs team and then a few others as far as the assets we've onboarded.
Awesome. We'll go with GPMS regarding that question.
How has the Sonic ecosystem responded to your launch?
And then are there any major collaborations or integrations that have driven growth?
Sure. Yeah, actually, the Sonic community has responded very well to a launch. Currently,
Sonic is top four for like 20 plus chain we have deployed on. So I can definitely say that we have been
an amazing support from the community.
And yeah, we have been collaborating
and obviously with a lot of Sonic projects,
Shadow, SwapX, a lot of the Dexas,
and especially also with Origin that I had to mention we just launched
basically I think last week our BS, which is basically our liquid staking for Sonic,
which you can basically exchange for us and just hold it to get percent yield on the validator staking.
We are partnered with Origin in those pools, so you can swap between OS and BS easily.
And yeah, it has been a tremendous ride and a tremendous product. And we have been very happy with how the community has accepted all of our
products in Sonic.
Thank you, sir. And Micah,
how has the ecosystem responded to your launch?
And then are there any major collaborations or integrations that have driven
growth?
Yeah, it's been obviously great to have those key integrations
with the money markets like Euler to enable that leverage staking use case that I mentioned
earlier. That's certainly a big driver to OS adoption. I think what has been really interesting
on Sonic for us has been a lot of new projects.
We certainly love OG projects.
We're happy to be one.
But one of the cool things about Sonic is just how experimental and innovative a lot of builders are.
And the whole culture of Sonic seems to be supportive of that.
And so we've seen a lot of these new projects, new token issuers pairing their tokens with OS index pools, which is awesome.
And they're doing this because of a feature that we call yield forwarding.
And I won't go into all the details.
I don't know that there's that many token issuers
listening here. But what it means is that when token issuers pair with OS, it leads to more
incentives for voters on these pools. So if you're like a VE SwapX holder, you're locking your SwapX position and receiving incentives to vote on pools.
You're getting more incentives than you would otherwise get coming from these OS pairs.
And then that results in higher yield for the LPs in all of these pools.
And then when that happens, it means deeper TVL or deeper liquidity, higher TVL and more trading volume across all the DEXs.
So it's like this virtuous cycle that's enabled by our yield forwarding feature.
And I was happy to hear GPMS mention that there is, in fact, a BES OS pool on SwapX.
And SwapX has been like an amazing partner in a lot of ways for all of us. But that
pool in particular, it looks like right now it's doing 22% APR. And again, that's like a stable,
highly correlated pool where you've got LSTs on both sides, 8x points on both tokens, a bunch of
different other incentives. And so it's like a really great opportunity to come in with size
and have, you know, that great S exposure and no real impermanent loss and the position
automatically managed on SwapX. Awesome, guys. Thanks for sharing.
I want to say, obviously, for those of you,
for those of the listeners that don't know,
obviously, Sonic, there's a current airdrop in process,
Season 1, which ends in a few months in June.
Obviously, part of that airdrop was our GEMS program,
which every protocol here speaking today,
Origin, Beefy, and Euler,
have received gem allocation. So the next question is, how can users earn a share of the S you'll receive from the gems allocation? We'll start with you, Lee.
Yeah, so first off, I want to say just the gems program, I think is kind of a great
concoction by the Sonic team of making, you getting a little bit of pvp fun going for uh the protocols but you know for us
it's uh i would say we haven't decided on kind of an exact ratio but we're pretty likely to do
some split of kind of backdating it to existing or previous depositors while also using a portion
for kind of further incentivizing and pushing for sustainability of future depositors beyond there.
So by that, I mean, you know, we'll use some of the rewards
to go back and reward kind of the users who've been around during the season,
but we'll also use a good, probably a portion of that to incentivize
and, you know, boost yields and boost returns for people going forward.
Because again, we want to have a little bit of a focus on,
you know, long-term sustainability and not just kind of juice everything up for, you know, the six months of the season and then drop it
there. So that's kind of where we see things. But yeah, it's, you know, just kind of normal use of
the protocol. And I would say. Absolutely. Thank you, Lee. We'll go with Micah next. How can people
make sure they get some of the S based on your gem allocation?
Yeah, I would kind of echo Lee and say that one of the cool things about the way Sonic has designed this program is that it's up to builders whether they want to pocket these gems and the resulting
S and, you know, fund more development and reward them, you know, as a thanks for building on Sonic, or
they're actually more incentivized to pass those gems along to users. And it's really cool the way
that has been designed, the program is designed, because it will result in longer term sustainability,
as Lee mentioned, kind of across the ecosystem. And so the main
thing I wanted to say was that Origin is committed to giving 100% of the resulting S to users.
So that will happen over time. What we're doing is we're going to wait for that S
to actually be delivered to our protocol. And then once we receive the S, we'll deliver that
as real yield to LPs through the DEX pools. We'll use that S as incentives for OS pools.
And I guess what that ultimately means for OS holders is it will result in higher yield for
anyone who's just holding OS when this happens. If you just want to hold S, like I was saying
earlier, you don't have to think about all this stuff. You just sit back and receive the yield.
And then, of course, you're earning points the whole time that you're doing that.
And then, of course, you're earning points the whole time that you're doing that.
But this will all play out well because that S will be used to incentivize the voters on SwapX, for example.
And then that results in more emissions for the LPs.
And as there's more LPs for the OS pools, it's deeper liquidity, tighter peg, and higher yield for regular OS holders.
Thank you, Micah.
And last but not least, GPMS, how can people get a hold of S based on your gem allocation using Beefy?
So, yeah, we're cooking something with the gems, aiming to, obviously,
and also distribute basically all the S that we're going to get through the gems
to the users. It's going to be fairly easy because it's just basically we're going to give that as
yield on top of our Sonic products inside Bifi, which is a pretty, I would say, easy way to get
them since a lot of people and obviously a lot of people on
sonic uses the protocol so it will be displayed just basically as more deal uh for the users so
uh ensure basically more rewards for everyone
more rewards i can't i can't uh uh complain about that Was there something you wanted to mention, Lee?
Yeah, I just wanted to jump in because Mike made me think about it.
But just to also confirm, Euler will be committed to giving 100% of the S rewards back to users as well.
So, yeah, I just wanted to mention.
I love it. You guys heard it here first.
100% of the gems allocated to the users.
So, yeah, I think it's a great program.
Shout out to Johan.
He's our DeFi master on our side who designed the whole points program.
And I think he understands what users need, what protocols need.
So it's been fantastic to see.
And me as well, just getting to experience all the apps and protocols on Sonic.
Moving forward, so obviously, the airdrops have you know, nothing specifically new in the space, right?
It's a good way to bootstrap some growth, liquidity, etc.
But in what way can projects sustain their growth following the Sonic Points program?
We'll go ahead and go with Lee.
I think really it's finding kind of the sort of sustainable real trades that people want to do
that are not just, you know, boosted rewards or kind of point farming. I think,
you know, the two kind of most common ones that we see on the lending side is kind of the yield
bearing token versus non-yield bearing token. So, you know, it might be something like, you know,
OS versus S or sort of, you know, any yield bearing stable versus non-yield bearing tokens. So, you know, it might be something like a, you know, OS versus S or sort of, you know, any yield bearing stable versus non-yield bearing stable.
But really, you know, something that people can, can loop up on, you know, two correlated assets
and really try to generate sort of real sustainable yield from that. And then I think the other one is,
you know, people who want to borrow real dollars against kind of their,
you know, against their, their non-dollar token. So again, that of their, you know, against their non-dollar token.
So again, that might be, you know, somebody with a big S or OS or other holding who wants
to borrow some dollars to have, you know, maybe a real world use case that they need
it for, for a bit.
That's kind of the two biggest, I would say, product market fits we found for at least
the money market side.
But, you know, in a broader sense, I think it's, again, really about just finding what are the real use case applications of these protocols and projects
that will allow for continued sustained growth beyond any sort of inflationary yield periods.
Absolutely. Thank you. What about you, GPMS? In what way can projects sustain their growth following the Sonic Points program?
who already don't start using DeFi across all protocols, but I think the way Sonic has
the community and especially the team also. I'm glad that you mentioned Johan because he's someone
that I have communicated with a lot and I'm pretty grateful for all the things that he does. Also, Matthew, I think the team is solid and the opportunities are always going to be there.
So I think there will be no trouble on sustaining the large movement on DeFi on Sonic, which is basically one of the only places that is getting much attention right now.
Thank you. Thank you.
Thank you, sir.
And Micah, how about you?
How can protocols sustain their growth following the Sonic Points program?
Yeah, if you don't mind, I might hand this one off to Ryan.
I've got something that's come up I might have to drop, but I really appreciate you
guys.
I love Sonic, and this was a great space
so I'll see you guys next time
Thank you for being here Micah
I appreciate it
I appreciate your time
Ryan I don't know if you want to chime in on that
in terms of ways that the project can sustain their growth
following the Sonic Points program
Yeah I can take that one
Origin's been really focused on composability
with Euler and other money markets
with AMMs as well
so I think a key consideration
is figuring out different ways to integrate with protocols to keep incentives high even post
airdrop and post sonic points incentives. So one of the ways we're doing that, Micah mentioned
briefly, is yield forwarding. And that's now live across over a dozen projects on SwapX and Shadow
where LPs can get more incentives just through
routing OS yields to those different liquidity pools. And now something else we're working on
in a similar vein with yield forwarding is how we can apply this to money markets. So
incentivizing the borrow rates on money markets using OS yield. So for like an OS USDC or maybe
a SC USD pair. So that way borrow rates are lower, thus the spread is higher, making those opportunities more lucrative without relying on points or other incentive mechanisms.
Thank you, Ryan. Thank you so much.
We're coming close to an end here.
I want to thank everyone for tuning in, all our speakers, of course.
We got Lee, GPMS, Ryan, as well as Micah,
who just departed from the space. But it's been great. And these are always good because we get
to hear from leading protocols like Euler, Beefy, and Origin talking about their experience on Sonic.
As we approach our last question, I do want to say like we are having our summit coming up in Vienna.
So if anyone's interested, I think I have some extra tickets and we'll have more panels to talk about all things DeFi on Sonic.
It's coming up May 6th through the 8th.
I just want to plug that in for anyone headed out there or interested.
For the last question, you guys, will any of your other products be coming to Sonic?
And what can we look forward to next regarding your protocol?
We'll go ahead with you, Lee.
I think for us, coming next is really...
You know, it's more sort of doing what has worked well for us at the moment.
So, you know, more trades, uh, trying to, you know,
shooting to get more volume and more interesting new products on, uh, we also have some other, uh, kind of new products coming soon, um, that we can, uh, you know, I've been teased here and
there by, by the team over time. I would say there's one that's sort of, sort of similar to
kind of a yield optimizer. And then we have a, uh, you know, some, uh, some other interesting
products beyond there. So, uh, stay tuned for some more things coming from us on kind of the new product side.
But yeah, it's just sort of pushing on better UX, listening to users, hearing about what they want, what trades they want to do, what assets they want on board.
And yeah, those are the big things.
And then, yeah, as you mentioned, the Sonic Summit will be, will be there as a big part of it.
So yeah, definitely looking forward to that as well.
Thank you, Lee.
GPMS.
Yeah.
So as I said before, we just launched our liquid staking S, which is BES.
And we're going to keep obviously developing new products regarding LPs, farms, single
staking on Sonic.
Oh, can you guys still hear him?
Oh, it looks like he came off.
Ryan, can you hear me?
Yeah, I can hear you all right.
It looks like we lost GPMS mid-conversation.
Hopefully it can come up.
But maybe you can talk about Origin, what's next for Origin on Sonic,
and anything to look forward to.
Yeah, I'll go next.
GPMS, just train the stage again.
Okay, cool.
I was going to say, I don't know why I was dropped from the space,
but just saying that we're going to
basically develop more LPs, farms, staking, and looking forward to interact more with the
Sun community from now on. Awesome. Thank you, sir. I appreciate it. And Ryan, go ahead and
close it off with Origins Next Step steps. What can we look forward to?
Sure thing. So for those of you in the audience who've been on the space since the very beginning,
towards the beginning of the call, Micah mentioned our automated redemption manager.
We call it the ARM, and we deployed that on Ethereum maybe not quite a year ago, but sometime last year, and we processed over a billion dollars of staked ETH volume through our
ARM so far. And this is probably Origin's most unique product. It's in the liquid staking space,
but it does not actually earn yield through liquid staking. What it does is it arbitrages
prices of liquid staking tokens. So you can imagine if we were to make a Sonic ARM, what it
would do is users can deposit S to the S-Arm vault,
and then that S can be used to defend against LST pegs.
So, for example, if Beats or Origin Sonic were to fall off peg a little bit,
the ARM would come in, buy it up on AMMs at a discount,
and then withdraw it and send it to the withdraw queue of the staking validators to redeem the S liquid staking tokens one-to-one
with the S that collateralizes it.
So it's a really interesting way to earn yield.
It's really minimal risk,
so it falls in line with a lot of Origins' other products.
But it's kind of a nice example of being able to earn yield
while also supporting the overall ecosystem
because if you're an LP
in one of these vaults, then you're defending against liquid staking token pegs while earning
that yield through arbitrage. So it's one of our more interesting products, in my opinion,
and we're considering bringing this to Sonic for Sonic LST. So stay tuned for that. I'm hoping that
we do bring this over to Sonic here and we will announce it on our Twitter as soon as we make that decision.
Awesome, Ryan. Thank you. And I want to thank you, Ryan, too, for organizing this space.
This was a fantastic space to learn more about all these OGs on Ethereum building on Sonic now,
their products, allowing our users and community to experience the yield, the points, all the fun stuff that farmers and
even users who might be experiencing DeFi for the first time can experience. So I want to thank
everyone. Lee, thank you so much for being here with us representing Euler. GPMS, thank you so
much for being here representing Beefy. Micah was here representing Origin, but thank God we have
Ryan as well. Shout out to Origin. Any last words to close it off before we close the space?
I'll go first.
I'll just plug Origin.
Check out OS.
We're yielding around 5.5% on our liquid staking token right now.
Give us a follow and stay tuned for future announcements.
We post a lot of different yield opportunities.
And if you want a more entertaining version of those yield opportunities,
go follow the Origin intern who also explains his own portfolio
and how he's managing his crypto on Sonic.
Yeah, I'll jump in and just kind of chill Euler.
If you're interested in some yield bearing, some looping,
some maybe more degen things, go and check it out.
We've got some nice liquidity for origin, you know,
some OS versus S loops if you want to do that.
And yeah, definitely just, you know, kind of follow us on Twitter,
see what, you know, stay in touch with what we're getting up to. Oh, can you guys hear me?
Yep.
There we go.
I was speaking and I guess I was muted, but I just want to say thank you to everyone for being here.
All the listeners, all our guests here.
Amazing.
And go tell everyone about Sonic.
You know, Sonic welcomes everyone. If you're building something to push the network forward, something innovative, we
welcome you here. We just launched our Fiem Vault. If you're not familiar with Fiem,
fee monetization is a good way for builders and protocols to earn 90% of the fees they generate
on Sonic back into their pockets and therefore incentivize users. Do whatever they want with
that funding, right? We just introduced a vault where certain contracts, including USDC, Wrapped S, etc.,
90% of those fees go to that vault to further support ecosystem efforts.
So go check that out.
There's a lot of cool people here building, a lot of dope things being built.
And I'm looking forward to connecting with a lot more of you guys
and help you guys market your guys' protocol on Sonic and across
the ecosystem as a whole. So thank you so much, guys. We'll talk soon. Yeah, thank you, Luis,
for moderating. We appreciate it. And as always, we appreciate the support Sonic's given us.
Of course, guys. Cheers. Thank you.
