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More Yield, Less Effort on Sonic
Recorded: June 11, 2025 Duration: 1:04:21Space Recording
Short Summary
Sonic's DeFi ecosystem is witnessing remarkable growth, driven by innovative features like native USDC, a unique fee monetization model, and strategic partnerships aimed at bridging traditional finance with blockchain. The upcoming Season 2 airdrop further incentivizes user engagement, solidifying Sonic's position as a frontrunner in the crypto space.
Full Transcription
Thank you. Thank you. Thank you. Thank you. Gmgmgm good morning good afternoon and good evening wherever you are in the world and welcome to today's OKExWallet Twitter space.
So I hope everyone's been keeping an eye on what different chains are doing in terms of TVL and DexVolume and one chain definitely stands out above the rest.
And that is Sonic. Sonic TVL just keeps going up. What is going on over there? Because it seems like DeFi is booming on Sonic. And it's not doing as well anywhere else. And I'm looking at DeFi Llama. And when I look at the Sonic graph, it's just up, up, up.
to take advantage of what you guys are doing with DeFi,
how I can maximize my yields there.
And we have some great speakers
from the top protocols on Sonic
to learn more about what we can do as users
and how Sonic stands out from the rest.
But before we start,
everything mentioned on this space is for discussion only
and not financial advice.
With that out of the way, let's get to know our speakers.
So first, let's go ahead and go over to Seg.
Seg, over at Sonic, do you want to give a quick introduction to yourself and Sonic?
Yeah, sounds good.
Thanks for having us.
I think I'll start with myself.
I'll start with myself.
I'm DevRel for Sonic, and I've been around the ecosystem for many years now.
Back in the phantom days, we were known as basically the premier DeFi chain,
and I think that's sort of resurging with Sonic.
More recently, I think we've really captured the the attention of a lot
of d5 builders because of our unique sort of uh economic structure and um also d5 users with our
unique sort of points program and and other things that we offer on our chain that are sort of
differentiated from the other um other chains out there our speed and everything else in the ux
the other chains out there, RSpeed and everything else in the UX.
So that's sort of, I think, where we're at right now.
We have, I mean, we've hit major milestones as a chain.
As most of you guys know, we have now native USDC.
We were one of the first chains to be upgraded from normal USDC to native USDC.
And the implications of that are quite large
sonic is now interoperable with effectively any any other chain that has native usdc
and so we have a lot of interesting stuff coming on the horizon as well
i think that uh yeah the future future looks quite bright for Sonic.
And despite the fluctuations throughout the journey, I think we've, I mean, we're one of the oldest chains after Ethereum, EVM chains after Ethereum.
So we've always sort of been here.
We've persisted through ups and downs. And I think that we a really exciting stuff on the horizon so for those of
you who don't know sonic um check out our twitter sonic labs and then you can go to sonic labs.com
and learn about learn about our chain but uh yeah there's a lot a lot of alpha to be had
so that that's uh that's sort of me and that's that's sonic for those who don't know
That's sort of me and that's Sonic for those who don't know.
Thanks, Zach.
I'm personally really interested in learning more about how you guys grew,
especially the history with Phantom.
You mentioned unique point structure and economics.
I'd love to get into that as well.
And we'll jump into that just after we introduce everyone.
And I think the next one who would be great to introduce, goes on smoothly,
would be, I think it's Miu Miu, behind the Sonic Labs Chinese account. Miu Miu, do you want to do
the same thing? Give yourself an intro and anything you want to add on the intro to Sonic?
100%. Hi guys, I'm Miu Miu, behind the Sonic Labs Chinese account. And I'm very happy to
introduce our Chinese account to join this space as well,
because we just launched,
we actually just expanded into the whole APAC region.
So we launched Sonic Labs Korea, Sonic Labs China,
and please expect more like developer meetup,
local communities building in the APAC region.
And I'm Miu Miu,
I'm managing the ecosystem relations at Sonic Labs now.
And we're very happy to join the space
and invite over our ecosystem projects to join the space,
discuss what's the future and what's so good about Sonic here.
I'll keep it for now.
And then let's just have an introduction of our lovable guests for sure.
Awesome. Thank you, Mimiu. I'll move over smoothly to Tencent over at Silo. Tencent,
do you want to give an intro to yourself and Silo Finance?
Yeah, sure. I lead the business side at Silo and at Silo we do risk isolated money markets
at Silo and at Silo we do risk isolated money markets
and appropriately we're also the number one TVL app
on Sonic.
And I think our app also speaks pretty well
to what Sonic does best,
which is also not just have a bunch of forks in it, right?
We have like a significant, well,
from the ground built up code base that focuses around,
rather than creating this shared pool,
we create risk isolated markets.
So we can do a lot more markets.
We can have higher LTVs and you as a user can also remain
only exposed to assets that you accept, right?
You don't have to rely on like governance
or anything like that.
The markets are fully immutable, much like, you know, swap pairs, but for lending.
But yeah.
Cool. Thanks, Tenzin.
Yeah, similar to all the protocols, I want to get more into the DeFi strategies
because there's a lot of potential, especially with the three protocols we have on today. In my mind, at least, there are a lot of ways
we can kind of cycle between the three to maximize yield.
So I will go over to Beats, Jedi Rasta.
I hope you can hear me all right.
Yeah, perfectly.
Perfect. Pleasure to be here, first and foremost. I hope you can hear me all right. Yeah, perfectly.
Perfect. Pleasure to be here, first and foremost.
Generous.
We've lost your mic a bit.
Any better?
A tad better.
There we go.
There we go.
That's good.
Yeah.
Maybe just run on to Shadow and I'll see you back in, or the next guest and I'll circle back.
Let me see if I can switch on my audio.
All right.
Sure thing.
Yeah, sure.
I can take it from here.
My name is $24.
Founder of Shadow Exchange.
The number one volume exchange on Sonic.
In my opinion, the number one.
We deal with a lot of DeFi as well.
And we do have... I remember hearing Neeloo say something about the APAC region.
About 20 to 30% of our users are from that region.
So just wanted to highlight that.
And yeah, did you just want an introduction on Shadow or just me?
Yeah, a bit of both.
I think you covered it pretty smoothly.
All right, yeah, that's good.
That's good.
Cool.
I'll cycle back to Jedi Raster, see if you're doing better with your mind.
Yeah, hopefully.
Yeah, that's bad.
Any better?
OK, nice, nice.
Yeah, so marking BD at Beats, kind of OG Beats
has been around for a while, kind of since the fandom days.
So it's cool to be speaking in the space
with some of the old names.
But yeah, essentially we're one of the leading DeFi protocols on Sonic.
And we combine essentially like a next-gen Dex,
built on Balancer V3 Tech,
with the dominant LST on the network.
So that's STS.
So you can kind of think of Beats at the core
as infrastructure almost.
It's not just for trading,
but we also have like a bunch of different sustainable yield
sources across Kynasonic.
So yeah, Dex, LST cool super cool indeed uh all right okay
so that's a great intro to everyone here today what i'll do is i'll just kind of ask a couple
of questions uh you guys feel free to jump in whenever uh you guys feel like it uh but i'll
start with pretty vague one for anyone who's unfamiliar with the journey of Sonic from the early days of FTM to what you guys are now.
And as I mentioned, I'll just keep going on the rise.
So either MiuMiu or Seg, if you guys want to jump in and maybe give a brief intro into that transition from FTM to Sonic.
What was that like?
And what was the reason for that transition?
Like a brief history and maybe a brief outlook for what you guys are doing.
I think this question we have the best answer from SAG. So SAG do you want to hump in and I'll add on to that.
I'll add on to that.
Yeah sounds good. Could you repeat sorry one more time?
Yeah, sounds good.
Could you repeat, sorry, one more time?
Yeah, sure.
So it's kind of a brief explanation
into the journey of Sonic from Phantom.
What was the reason for that transition?
What you guys are doing?
And maybe I've seen the TVL rise on Sonic.
So is DeFi going to remain the core focus of what you guys are doing?
Yeah, so the journey has been quite sort of, at the beginning, it was sort of really interesting,
the amount of attention that we got, and sort of it's carried through up till now even though the market's
depressed um I think the the transition went way smoother than I think most of us would have
expected um obviously with any chain upgrade there's going to be hiccups etc but I think for
the most part it was uh it was quite good the chain is now running um smoothly uh I think the
is now running smoothly.
I think the number of milestones we've hit on Sonic
that were not achieved on Phantom
is, I think, indicative of our sway right now
with respect to infrastructure.
I mentioned native USDC, but Aave and other things
that I think are extremely important for just a
robust DeFi landscape. We managed to get on Sonic partially because of the head start we had as a
result of being around for so many years beforehand. The DeFi landscape now I think is quite prime for even further interoperability between protocols that now just want...
Any DeFi builder that wants to come to Sonic has everything available to them now in terms of all the sort of building blocks and the Legos that you would need to build a DeFi app.
link blocks and the Legos that you would need to build a DeFi app.
On the horizon, there's some more interesting stuff, I think, that's coming in the AI space
and other things like that.
But for the most part right now, the DeFi landscape in Sonic is, we're just trying to
plug whatever holes might exist in terms of infrastructure and dev tooling and UX that
we have.
But for the most part, I think our chain is quite mature.
And yeah, we're sort of trying to accelerate
just the adoption now.
Really, I think that's something that we're trying to focus on,
which is partially UX.
It's partially distribution and marketing.
Because if you have all the pieces but nobody knows about it then that's
not not going to help you so I think that's really what at a high level that's what that's
what the state of the the chain is I think more granularly we we have obviously things things
running like points we have things that are on the, like hackathons and events that happen. But for DeFi specifically, I think the ecosystem is pretty robust.
It's growing day by day.
And I think the native USDC upgrade is going to contribute a lot to that, among all the other things that we talked about.
That's the way that I see the current landscape for us.
I want to add on to what seg has perfectly articulated already i think he gives a very clear um descriptions
and introduction to our like infrastructure our builder tools and um like while we've already
enabled and integrated in the sonic um on the the chain like in a more deep down the fundamental level.
But from like marketing and distribution and for like more on-chain activity and boosting
the community and morale side, we're very happy to wrap up the season one airdrop by
June 17th and season two airdrop of the ASK token coming immediately after at june 18th so like we will keep the
momentum up and uh have the seasons ongoing and keep rewarding the real impact and the
real on-chain activities for the loyal users of sonic along with all the like beautiful
ecosystem projects we have together and was native usdc integrated with all the top exchanges integrated with Sonic and like more
listing ongoing and open up the airdrop for US residents as well. Like all the news is coming
in and all the institution money are coming in. So I think the horizon for Sonic is just
like even higher and it's much better than what Phantom have achieved in the
past like four years. That's super exciting. You mentioned season one is ending it sounds like
next week right and season two about to start. Do you want to or could you actually let us know
maybe what the difference is between Season 1 and Season 2?
And how can new users, like myself as well, participate in Season 2 and get involved?
Yeah, so we actually just announced that Season 2 is coming to Sonic this morning at 9am.
And there's a lot of details to season two, but in general, like a guideline,
there will be no longer have like passive points.
We have a season one eardrop, which is the idle assets that you put,
you have like your whole like ASS token, RepApps token, like WPTC.
You have those tokens during season one, they will give you passive points.
But right now we will focus on incentivize more loyalty-based points,
more active on-chain activity points,
and revenue cons towards the gem distribution and incentivizations.
So there will be more details coming and we will explain in the following weeks.
But in general, we just want to let people know that season two is coming immediately after season one.
And there will be more incentivizations to real impacts and on-chain activity user.
That's really cool. I've just pinned the announcement you mentioned, season two, literally an hour ago.
Yeah, thank you um okay cool i want to move
over to the the protocols um because we have a lot of hopefully new users on the space here today
uh and hopefully we can start onboarding more people under sonic and under the protocols
uh maybe i'll start with shadow since everyone's trading a lot recently across different chains.
Shadow, $24, I'm wondering, do you guys have any new features coming up that will help the trading process?
The one thing I have in mind is maybe like perps or anything like that that can just help the trenches, the dgens come in.
First and foremost, we're continually the bench barrier of entry to getting
to sonic um we've already integrated dbridge onto our made a bridge interface but uh we decided that
wasn't enough we created cctp.to which was a fee-free version of cctp for people to bridge
to usdc and then we just started thinking um on our own
website dbridge wasn't enough so we decided uh we would just kind of build like an aggregator that's
actually going live uh today so it'll aggregate from cctp dbridge or li-fi and they'll just pick
the best route it's the same as their swap. You can choose to route through these different aggregators on and off.
You choose all three, it'll choose the best execution.
So if you're using USDC to USDC, it'll use CCTP because that is the cheapest option.
And a lot of little small things.
We're working on what we have been kind of pushing fair launches like with dynamic fee launches where the fee starts high
and it reduces over a 30-minute interval.
We've seen on other chains, teams would deploy their own AMM
just to do their token launch and then move it to the exchange.
So we thought we'd make that process simpler
by allowing them to just simply do it on our website.
We might add a little scheduler for that.
I think we got a little UI update coming too.
There's probably so much I've already forgotten.
But yeah, quite a bit coming.
And I'd say number one is just reducing that barrier of entry
for people getting on a Sonic.
But yeah, and then I think that's it.
Honestly, it's really probably some stuff I'm forgetting.
But yeah, mainly the bridge update that's going today
and some other UI updates as well.
Yeah, and to be honest, even for us,
removing that barrier of entry for users
just onboarding into crypto in general is so key.
So you mentioned the integration with dBridge.
Which chains would you be able to bridge from to get to Sonic after integration?
Well, right now, it's every EVM chain out there.
So Ethereum, Optimism, Binance Smart Chain, Polygon,
even Phantom supported.
Base, Arbitrum, Avalanche, Sonic.
We're going to be adding Solana in the near future.
It just requires a little bit,
just a little bit more nuanced
with the wallet infrastructure
to switch between the two.
So we're working on that.
So any EVM chain that's already supported
by any of these bridges is already included it's just we have been getting quite a lot of requests
for solana so we will be implementing that worst case scenario you need to go from solana to here
you could definitely just use the bridge sites themselves But if you do care about the aggregation and trying to have the best execution,
we will be working on that as soon as possible.
Yeah, that's awesome.
Just have like one unified place just to get the best prices,
just to bridge over and start trading on Sonic.
I'll move over to Tenzin at Zylo because you guys, of course, are doing lending and borrowing.
I'm wondering, do you guys focus on any looping strategies or any yield optimization strategies?
Yeah, that's basically our forte, I would say. If you look at our markets, we've got basically every stake derivative for us that you can think of. Most of the USD denominated vaults, you can borrow USDC against it, right? Like XUSD, you can borrow USDC against it. YUSD, you can borrow it.
You can borrow it.
PT tokens.
We really do a huge variety of things.
And then we also offer like a passive, if you just wanted to deposit USDC managed vaults setup where the yields are quite high, basically due to the recent incentives and tokenomics upgrade we just went through.
How easy is it for users to kind of get involved and like on that topic of user acquisition
and making things a lot easier on chain?
Do you think it's like a relatively easy, simple process for users to start lending
and borrowing with Silo and on Sonic in general?
Yeah, so I see that there's like two profiles of users. I would say like the very simple side is if you just want to go in, deposit, our earn
page has managed faults, you go in there, you click deposit, you know, not much, it
can't get much easier than that.
But then the more advanced users, right, those are the people that have to kind of dig into
the markets and then you have to really deposit and then read parameters and, you know, understand
your risk your
oracles and the type of stuff which is important in lending um but yeah getting getting involved
initially though is quite simple and a lot of users don't even know how they're involved but
like silo is in the background for a lot of dApps jedi's, obviously from Beats. Besides us having the largest stake desk market on Sonic,
we've also got a wide range of boosted pools with Beats
that feed a lot of our markets all across silos.
So it's a pleasure working.
And obviously 24 is here from Shadow.
We have all our silo liquidity on there,
doing fantastic there as well.
So, yeah.
Cheers, Tenlin.
Yeah, I mean, I think this is a really good time to highlight just how collaborative the entire Sonic ecosystem has been.
Even for us at OKExWallet, working with you guys has been just super smooth.
So it's been a pleasure in the ecosystem. I'll move over to JEDI as well for Beats,
because of course you guys are doing staking with STS,
the liquid staking token,
and it's closely linked in the whole ecosystem
with Silo and with Shadow.
I'm wondering, do you guys have any kind of new strategies
or new use cases for STS,
or is there anything you particularly want to highlight
with stakers for on-beats?
No, I think the game plan really with STS
is just to make sure that it's super safe,
super accessible,
and kind of has adoption across sonic um generally so that's kind of been
the the focal point of course we had the kind of integration with ave which was which was super cool
um but yeah generally just making sure that we stay connected with other other dApps on the chain, building good relationships, and then kind of looking for opportunities as they arise, essentially.
But yeah, just making sure that it's super solid.
We want it to be kind of one of the key assets on Sonic that kind of connects the ecosystem.
So yeah, safety first there.
And just making sure that we're growing steadily over time,
which is just super cool.
Things have been going pretty well.
Kind of just stay on track there, really.
Yeah, I think pretty well is an understatement as well.
Just looking at the TV, it's just performing so well.
So we've had a few words from the
top protocols on Sonic, and I'll shoot back to
Miu Miu, I think. I think this one might be more for you because
you've mentioned the growth in APAC, you're onboarding new projects, you've got
hackathons coming up. So from the perspective of
new builders or new projects who are looking to build onto
Sonic, what are things that they can look towards the Sonic team maybe or the Sonic ecosystem
in terms of support or in terms of like how would I as a builder grow within Sonic?
Yeah, this is a perfect question. I've been trying to preach to all my friends and also our
community members about all the different ways that you can benefit from actually building on
Sonic. So what's unique about Sonic, there's something that like 24NR ecosystem project has
been saying a lot is called fee monetization, which is like basically 90% of the
gas fee generated from the contract will return back to the builders. So normally, you know, a lot
of other chains, they may like collect the gas fee and this is their revenue. But as Sonic, we return
90% of the gas fee back to the builders. So fee monetization has been the very essential part of the fly wall that we
attract builders and retain the builders and actually benefit back to the
builders. We think it as like the creator loyalty revenue for like in the
web to world and the creator industry.
So I think that is very, very essential part of how we retain and attract
builders. And we're trying to make the spread the words out.
Like for the past um
months since it's launched we already collected over 1.5 million as tokens and just get it back
to the builders so you can really incentivize them to like build their own teams attract new talents
you know like on your own jurisdictions and uh own well like how you want to spend the money it's all
yours that's one part.
And the second part is like the, for sure,
the season one and season two,
and maybe season three of the airdrops.
In that, we will have the points program.
We have the gem program.
And really, we're trying to reward and incentivize the active real impact users
and builders in the ecosystem.
So like while you retain using it,
building on us,
we will have this Jane program
and points program
that we reward the airdrop
back to our creators,
builders, and even users.
And lastly, for sure,
as we mentioned,
we expand it into APAC region
and then we will have more hackathon
ongoing,
partnering up with top protocols or even Web2 institutions.
So we're opening up the avenues for users and community members to reach to us.
So local meetups, and we open up a Chinese ambassador program,
which you can be community members hosting events,
doing contents, like be our dev rails
and do all kinds of things, creative things.
And we will just sponsor our community members
to do all kinds of things.
So like the distribution platform are opening up
and hackathons is like how we connect with our builders
and maybe SAG have more to add on that part
and uh lastly we have this global program called sonic and soda and we essentially sponsor local
community members to host events and we will just sponsor uh reimburse all the financial part like
might be the burden for our people to meet up in person. So through that program, we can have like more and more our community members meet
up and know each other by person and foster like a more solid, more cohesive
environment in this ecosystem and we can move forward altogether.
There are a lot of different avenues.
I know I ramp a lot, but for sure, I'll post more about it. Chinese account will post more about it and just follow our ecosystem account, follow our
Sonics Labs account. You will get to know a lot more. That's it. That's super cool. I actually
really want to jump into what you were talking about, B-monetization, but I will ask Seg if you
want to jump in or anything else to add there.
No, I think Mimi described it perfectly. It's just a complete rethink of the economic model and the economic incentives offered to builders. I think it allows for really interesting
monetization mechanisms and create different business models than have been sort of commonplace in EVM chains
or any chain really before.
And yeah, I think it's really innovative and it's helped a lot of builders fund their
operations, sort of give back to their communities, et cetera.
Yeah, awesome.
So I want to jump to the topic of the fee monetization.
I think that's a really unique fee structure. And so you didn't mention it's like it is the unique economics as well. So, again, either Mimi would say, you mentioned that it's 90% of the fees of the gas fees are returned back to builders. Is that kind of distributed evenly? Or is there like, I don't know how, how would the fees be calculated in terms
of, let's say there are a hundred builders, but each builder are working, is working on
different projects and protocols.
How do you determine what percentage of fees or what, how the fees are distributed?
Uh, yeah, I think it's just super interesting and a great way to encourage
builders to come on board.
A hundred percent.
Um, sorry, were you asking me to clarify that?
Yeah, either yourself or Viumu. How exactly do you determine how those fees are distributed?
Yeah. So basically, projects would sign up. They just register for fee monetization using on vm.soniclabs.com. And then once your project is
registered, you can add contracts that live under your project that would earn basically 90% to flat
90% of all the gas that's used to interact with your contracts back. And you're able to claim that
through the VM interface as well.
So you earn based on usage.
So the more people that use your contract, the more volume that goes through your contracts,
your project accumulates VM revenue and you're able to claim that through the same interface.
That's awesome.
So it's more about the number of, say, correct me if I'm wrong, would it be the number of like unique wallets interacting with your smart contracts in your DAB?
Right. Yeah, basically it doesn't have actually, the only thing that matters for the actual revenue generation is the amount of gas that's spent.
So we have games, for example, that are minting, I don't know if it's full images on chain, but the idea is, I mean, as a foundation, if you think about the incentive for us, right, we want to increase the usage of the chain because that's sort of our mandate.
We want to increase the amount of gas that's spent on our chain.
And as a result, we've sort of aligned our incentives with the incentives of the builders now is to basically have people spend more on gas on the chain.
That's the idea. Although gas is pretty cheap, the volumes sort of make up
for it. So with games, if you're sort of putting images on chain, that's a decent amount of gas
that it costs to write those images on chain. And so those gains will get 90% of that gas back,
right? And then the validators are happy with 10% because obviously the validators are more
aligned with the token price going up, which is sort of fueled by builders and users more so than the actual rewards that they're getting in absolute terms.
So they're getting a smaller piece of a potentially larger pie. And that's the way that sort of validators are aligned to this as well.
Yeah, it's a super unique incentive structure that it will be pretty interesting to see
if more chains take on this kind of fee structure because it is a great way to incentivize builders,
especially now when we're seeing more and more chains come on board and try to take
different, I guess, take control of different verticals.
But it does look like Sonic has really captured that DeFi market. I'm wondering outside of the fee structure, is there anything else you want
to highlight on Sonic Chain that makes it particularly great for DeFi to thrive? And
what you think might be the cause of that continuous rise in TVL, basically,
what you think might be the cause of that continuous rise in TVL, basically.
Either towards SEG or Mimio again.
Yeah, so my opinion is that I think Sonic really, the whole package of Sonic, not just the
individual components, but like VM we're talking about, but also like the great infrastructure package we have
that allows for interoperability with different, like many different protocols.
The speed that we offer, obviously, that's one of our key USBs.
I think just generally like everything together.
And then we're working really hard on making the UX better for users.
We're working really hard on making the UX better for users.
But just the entire package we offer, I think, is a great place for DeFi to thrive.
And you could see a lot of good successful protocols that have sort of stuck with us for many years
and have sort of gone through the ups and downs and have made it out
and really have come out the better
for it. I think longevity is something that we also have on our chain with various protocols
that have been around for a very long time. That is not really the case in the blockchain space
too often. So I think there are multiple things that make Sonic sort of unique and
attractive. I think that we have some really exciting stuff coming on the horizon in AI,
and I'm excited to sort of talk about that stuff closer to time when it's ready.
But also just generally, overall, I think we're sort of the place to be for DeFi right now.
Again, despite market conditions, things happen in the market.
We can't really, you know, sort of, we can't control macroeconomics, but things are the
way they are and things will continue chugging along.
And I think that we have a really interesting fundamental trajectory that's going to continue
to accelerate through all these
through all these bumps. Yeah I think SAG pretty much covered it really really well. I just want
to point out a few things or just like stress on a few things as well. So first, like Sonic has always been designed for DeFi and from Phantom, like our history, our legacy has always been in DeFi.
So Sonic, it's, we will double down on the DeFi thing and make it the DeFi place to be for sure.
And to enhance that and to make sure that will for sure happen like all the infrastructure builder tools
that the sub second finality or the one block confirmation everything we've already achieved
being the like the fastest chain evm chain as possible and um in addition to that like
seg mentioned about the ai and rwa everything is coming to sonic and make all the different kinds of DeFi activity possible.
So, yeah, I think that's pretty much my two cents on why we are the place to be.
Yeah, that's all. I mean, again, you always raise loads of interesting points.
I want to touch on RWA as well a bit later on.
I'll quickly jump over to the protocols too, and maybe over to $24 again.
I'm wondering, I'm not sure if this is a question that you can answer or should answer.
I'm wondering, what do you think, what are the current top trading pairs on Shadow?
Like, is it mostly S to stables or s to like liquid staking tokens
and is that do you think that would be just due to the d5 flows or do you see it to more
do would you see a transition to maybe more mean point trading or other types of trading
you know that's a great question um right now, it's definitely more of the major assets. Obviously, gas token USDC is a major one, Bitcoin ETH, Bitcoin USDC, you know, the typical majors.
And yeah, there's some stable pools as well.
Euro and USDC is an interesting one.
That one does quite well, especially on the weekends.
Since it's an interesting one because traditional currency markets are kind of like closed on the weekends.
So it's considered less volatile.
So people like to LP that on the weekends. weekends but no there's a lot of different assets um there hasn't really
been a major mean coin that has emerged other than goggles um i think with mean coins it's
not something you should be chasing it's just something that occurs organically but uh if
you're able to just um you know be prepared for it have the infrastructure
for it like we had a lot of cool stuff that we had planned for mean coins with token launchers so
just being ready to go with that kind of stuff is great but uh building up the you know traditional
markets is totally awesome as well like ethan and Bitcoin are two of the top four revenue generating assets in crypto.
The other two is XRP and Solana.
And obviously those aren't coming to any EVM chains anytime soon unless it's like a really nice wrap standard.
But basically, yeah, it's mainly the majors and, you know, stables as well.
Of course, people love to LP that.
And then there's some smaller, you know, meme coin projects that do well consistently.
I want to shout out goggles and eggs.
Those are consistently doing well every week and continuously earning yield for their users.
But no, it's just mainly the majors uh to be honest yeah euro euro usd is
pretty interesting uh personally i've never traded euro in crypto uh is that just do you think that's
just short-term trade and lp providing and then switch back and that's it and then do the same
same again the next weekend i'm like how what do you think is
the user the tencent tencent could probably yeah tencent could probably elaborate more but from
what i understand they believe on the weekends it's less volatile because you know the traditional
marketing aren't doing their currency stuff like for us and stuff like that but it's been an
interesting it's not short-term lp position because uh since like february well i don't know if it's been an interesting, it's not short-term LP position because since like February, well, I don't know if it's true anymore,
but it was up more than ETH versus USDC.
So it was an interesting asset to hold.
And I'm sure there's some fun stuff you can do on lending markets,
kind of borrowing against Euro or if you're hoping for it to go up or down,
whatever the case is, and take that position
because the markets have been quite volatile in that sense.
But yeah, on the weekends,
it's just less of the external arbitrage affecting price action,
so they don't consider it as volatile.
But Silo does have a market for it.
I'd love to hear what Pence thinks about this as well.
Yeah, I mean, Euro USDC is really obvious, just like what it means, right?
Because, I mean, at some point, crypto has to kind of adopt these larger markets.
But we do have a market for it. It's Euro USDC.
And the idea is you can take basically the same exact positions that you would take on a Euro USD pair on a Forex pair.
So that can mean speculating that you think the euro is going to outperform the dollar.
You think that the dollar is going to outperform the euro.
Anything along those lines, really.
I think right now we haven't seen a huge amount of pickup. I don't know that the Euro circle is as developed as USDC.
I mean, it definitely is not, right?
Because USDC is kind of the king of the dollar right now.
But I think that the use case is there.
And with Shadow providing significant liquidity at PEG,
right, like that tends to be um
all the elements that you need to really create a successful for extra
yeah that's that's that's super interesting uh what is the yield looking like on uh on the LP for Euro USD?
On Silo or on?
Yeah, on Silo.
On Silo it doesn't really have any yield. It's more of a speculative thing.
It's really, really a tiny, tiny market for us.
We're able to kind of move liquidity there as needed,
but yeah, I would say it's, I mean, it has practically no liquidity compared to like our larger markets at the moment.
But we're hoping it picks up basically.
Gotcha. Would I be right in saying like the largest pairs would just be kind of as to the LSTs?
to the LSTs?
For us, yeah, our largest pairs are LSTs
and then also stablecoin wrappers or Pendle tokens
as well as kind of like some of the major tokens, right?
So we have a good bit of variety,
but like for example, one PT that's extremely popular,
a big chunk of our TVL is actually the Aave PT, right? So you can
take your Aave USDC, you can deposit it into Pendle to create a fixed rate, and then you
can deposit that fixed rate receipt token into Silo to borrow more USDC and complete
the loop again over and over, right? And so long as your borrow rates are lower than your
deposit rates, then you create an amplified APR.
Yeah. I'm a big fan of one-click looping strategies as well,
which I'm seeing more employed more often.
Is that something you guys have too?
We don't right now. It's actually being audited right now,
but it should be coming fairly soon.
It's a very quick contract, but we audit all of our codes.
Yeah, I'm super excited.
I feel like that's a great entryway for new users getting into TFI.
I want to ask one quick question again to the Sonic team just before I move on to the last one for everyone else.
team just before i move on to the last one for everyone else um um you mentioned rwa and i i
think rw personally a very strong personal opinion is all the crypto events i've been to this year
there's been just an overtaking with our rwa events uh is there a particular sector within rwa that
you guys are looking at expanding or uh is it kind of just general exploration and helping RWA projects?
Of course. This is definitely a very heated word for the past, I think, a year in crypto,
because connecting with traditional money and the real world assets has been a heated topic.
And for sure, in the Sonic team, we're exploring.'re exploring and actually back in 2024 which is like
last year december we've announced that um we've worked with chain link and backed to tokenize uh
four lake asset management their first sigma opportunity fund um to an on sonic and uh this
is something that we have already done like like tokenizing the fund on Sonic.
And it's still undergoing.
And the tokenization of that fund really marks an important milestone for Bact.
It's their first fund to go through its tokenized service platform and also like a big achievement for us.
And because with that ongoing and it's super exciting, we definitely want to expand more
in the RWA space. So currently, like, like two, two weeks ago, Sonic Strategy also successfully
raised a million dollar, which is a infrastructure, like an IPO company in Canada, and they're just
gonna do the whole micro strategy thing for Sonic
strategy using the traditional traffic money as well.
And, um, it's not lastly, but, um, something pop in my mind for now is that like, um, we
are also in talk with us ETF providers like Grayscale 21 shares.
Um, but the custody still require custody requirements still remains really high.
So all kinds of avenues and all kinds of ways we're exploring with collaborating in the Web2
world, traditional money and also tokenize everything on chain. But more news are rolling
out and we will let everyone know. There's only one way for everyone to stay in touch
and that's just to follow sonic labs and yeah amazing yes okay last question to everyone on
the space i want to know what's coming up in the next near future that we can kind of be looking
forward to uh or that users should be paying attention to whether that's about like maximizing our yield
or whether that's about new features or new integrations that you guys have planned
uh and i guess i'll start over with beats jedi raster if you can let us know what's coming with
beats in uh i guess in the short term uh future uh yeah just let the audience know
yeah for sure i mean kind of just off the bat,
I haven't really had much of a chance just to speak
about boosted pools.
But I think kind of entry level, that's super cool.
It's a product we're pretty proud of.
But essentially, it gives the user access
to yield from swap fees
just as a regular LP,
but it also routes idle liquidity through lending markets,
so silo, Aave, and so users have access to that,
which is super cool.
So yeah, a lot of energy and effort
will be going into kind of promoting those
and just making sure that we remain competitive,
essentially, on the lending side.
So closely working with Aave, et cetera.
So yeah, boosted pools, super cool.
And then I think kind of a note in terms of the future,
Beats is basically built off of Balancer B3.
So kind of in a nutshell, it's super flexible in terms of kind of the poor types that can be created.
And that kind of unlocks and opens the door for experimentation.
Or let's say maybe more exotic, quote unquote, pool types,
which is super cool.
So we have kind of gyroscope,
which kind of focus on concentrate liquidity,
which is cool.
They've just dropped their dynamic ECRPs.
So kind of passive management from that side,
which is really cool.
So we have those, I mean,
they can
be connected up to booster pools as well which is which is pretty fun um and then quant amm are a
new protocol um they haven't quite launched yet but we're we're kind of working with them and they
run um they're kind of like uh you can think of them like funds on chains. So they're called BTFs, which are blockchain traded funds.
And they kind of basically rebalance,
like the pools rebalance based on kind of live price signals,
which is pretty cool.
They have like on balancer right now on mainnet,
they have a safe haven pool which is um
bitcoin um packs gold and uh usdc and it kind of like essentially tries to kind of be the alpha
on their market which is really cool so we'll be launching um a product sonic pretty soon
product on Sonic pretty soon, which is exciting with them.
So I think things like that are pretty cool.
Just being able to be a little bit more agile in terms of the pool types and offerings that we can present to users.
So yeah, pretty cool.
That's awesome. How would the boosted pools work?
So it would be me providing liquidity with my STS?
Yeah, I mean, it could be a bunch of assets, essentially, like so long as there's a solid
lending market, we can move that asset to that market.
So you would just provide, let's say USDC, you provide USDC to the poor on
beats. And then what it does under the hood is essentially not all of the liquidity in
the pool is needed for a swap at a given time. So what the pool can do is route that liquidity,
deposit it into the lending market and basically siphon that lending yield back into the pool so it's just an added layer
of yield essentially so rather than it just staying kind of idle or non-productive the
the capital is being used in lending markets
nice that's super smooth yeah i mean i think my takeaway from this is i gotta go and just
start putting money in s and and exploring the different protocols and seeing how i can uh use this
stuff like uh the booster pools uh and the different lps maybe i might even find this
euro and usd thing um and see how that goes but uh similar question over to tenzer at silo what's
coming up in the next couple of months is there anything you want to highlight and let the users know? Yeah, I mean, well, I kind of touched on, we do have one click leverage
coming, being audited this week, probably coming within the next couple of weeks. And then also,
we just launched xSilo, right? So what we've done is we've taken uh 50 of the fees generated by all the markets
silo has around 200 million active loans uh and we take 15 of the interest uh 10 to 15 of the
interest uh generated by those markets uh and 50 of that those fees go to uh ex-silo stakers
it's a model very similar to shadow's It's inspired by it with some slight differences,
but yeah. Oh, and I guess I would also say manage vaults. Take a look at the vaults. We have
fantastic curators, fantastic yields on there now with XSilo. And we plan to bring on a lot more people on there.
So definitely give that a peek.
Cool. Thanks, Tenzin.
And same question over to $24 over at Shadow.
Am I repeating the question?
Yeah, sure.
What's coming up in the next couple of months?
What's the alpha?
What can you let users know what to get excited about?
Oh, dude. a lot of cool stuff
um so i'll just start with uh season two of the sonic airdrop is coming and um a third of the equation factors in revenue um so that would put shadow number one just
based off some napkin math so that's awesome um first and foremost and then um the airdrop
the airdrop a lot of people look at it as kind of a negative event where tokens go out i think
it's going to be really awesome to see what's built on top because um these are nfts
right there's going to be the order book that trades them yeah people are going to be selling
them at a discount um but if what we're thinking and what we potentially want to do is we want to
tokenize those nft positions into like an erc 20 create liquidity for them and essentially it has an inherent apr as the position invests
so um thinking we could do some cool stuff with external markets like a silo potentially pendle
but we first have to build that liquidity on on shadow so i think that'll be awesome to see and
because of the way i'm envisioning it the way i can see users and even
funds institutions wanting to get a position for cheaper or then wanting to leverage on that
position or potentially silo or something like that i think that would be really cool
um there's a lot of stuff that can be kind of built on top when you have like
it's it's technically a yield bearing asset right like it has a price
and it's going to keep increasing as things invest so i think that would be cool uh
to see how that works but yeah that's kind of what i'm excited for short firm uh short term and then
there's a bunch of shadow tech that's coming out that we're pushing um the
dynamic fee launch we're going to make it more available to users or projects that are building
we might have a little schedule on the site so people can see you know when these fair
launches are happening a little information about the projects uh we're updating the bridge
Like we're gonna push that today so it aggregates more than one thing and then
like we're going to push that today so it aggregates uh more than one thing and then
Eventually, we'll add Solana. So there's there's a lot coming. I'm I'm definitely forgetting something as I said before
But I kind of think of like what's coming up right now, but yeah, that's that'll be awesome. And if you're on Sonic
What's a good time right now? I know with price action has been kind of interesting
But if you are patient and you can see opportunities uh i'm telling you that
paint swap order book going to be some inefficiencies
going to be people trying to exit their airdrop position
and you know and then you're able to kind of get a good deal so i'm just going
to leave it at that that's some good hinting and some solid alpha there.
And yeah, I guess I'll leave the final word over to MiuMiu
about the same thing about what's going on in Sonic overall.
I know you guys have mentioned a lot.
I know it's a lot of updates from the protocols too.
Is there anything else you want to add in the,
what's there to look forward to, I guess,
maybe even for the rest of 2025?
All right.
Yeah, I think 24 mentioned something
that we didn't really explain it earlier
with our audiences here today,
which is our airdrop for Season 1
because it's ending at June 17th
and it should be delivered after a few weeks
after we review it and minimize the bots and the simple attacks.
But yeah, the airdrop will be claimed in a format of an NFT.
So every airdrop, you will have your unique NFT on PainSwap,
which is the NFT marketplace on Sonic.
And once you claim the NFT of your airdrop,
you will be able to immediately claim 25% of your whole allocation.
And then the rest of the 75% of the allocation will be vested in 270 days.
So it will be a vested airdrop.
You won't be able to claim that everything.
And then like a lot of our community, we're a little worried about like
other kinds of like a air jobs and there will be
like a selling pressure but no that's not the case you will have this nft and you will be able to
trade your positions your air jobs of the nft um so pain swap is gonna set up a designated nft
marketplace just for the as air jobs so you'll be able to trade your position.
You'll be able to claim 25% of it.
And there's a lot of like secondary market speculations and play playful things around it.
And I think that will be something I want to definitely point out and note in the space for today.
And I think talk about the airdrop is also a great way
for us to wrap up the space today
because season one is wrapping
please claim your rewards and also
play with the rewards. And
season two is also coming on
June 18th.
Yeah, I mean, airdrop news is always
a great way to end and
start and to be honest, to just continuously
talk about. Amazing, yeah. And yeah be honest, to just continuously talk about.
Amazing, yeah.
And yeah, I mean, if TVL is anything to go by,
then the AirDrop is just going to be a really nice bonus
to everyone who's been involved.
And make sure to follow all the protocols on the space.
Sonic included.
I mean, season two is coming up.
So everyone who wants to get involved,
please do go ahead and give them a follow.
Sonic Labs, CN is here.
You can always follow the Sonic Labs global account too.
We've also got Shadow Exchange, Silo Finance, and Beatsby.
Everyone on the space here today.
So go ahead and make sure you follow everyone here today.
I would give a quick 10 seconds to shield OKEx Wallet
because if you guys are not using OKEx Wallet,
you are just
leaving money on the table we've got a great DEX too 500 DEX is aggregated um I think 130 plus
chains now already so you're getting the best price you're getting the best swap slippage
uh I think we even have positive slippage now so you know you might even earn more get trade
more tokens than you initially wanted to.
And yeah, I mean, the best thing about OKExPolet is you have access to Sonic as well.
So you can go ahead and use all of the protocols
on the space here today,
and you are being rewarded for using OKExPolet as well.
We also have airdrops, campaigns, events,
trading competitions, everything you need to start and continue your Web3 journey.
But thanks for everyone who spoke here today
and thanks to all the listeners in the audience.
Go ahead and follow Sonic Labs, Shadow, Silo and Beats
and there's a Sonic Lab CN account too.
There are a lot of updates, season two coming out soon.
And thanks very much.
Have a great day. Have a great night, wherever. And thanks very much. Have a great day.
Have a great night,
wherever you are in the world.
Have a great time.
Thank you,
everyone.
Yeah.
Pleasure.
Thanks.
Thanks.
Host
OKX Wallet
from
OKT Chain
