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Sonic Ecosystem Mega Spaces 🔥
Recorded: May 29, 2025 Duration: 1:03:30Space Recording
Short Summary
The Sonic ecosystem is witnessing a surge in innovation and collaboration, with multiple projects launching and leveraging unique models like fee monetization and liquidity aggregation. Key highlights include the launch of the Sonic ecosystem pod by Perk, the upcoming token launch by Fly, and the strategic partnerships enhancing data reliability through Pith Network.
Full Transcription
Music Thank you. Thank you. Thank you. Thank you. Hello, hello everyone.
I think we have everyone here already.
So welcome everyone to a special edition here of our spaces.
Today we're going to dive a little deeper into the Sonic ecosystem.
I'm Hai, your host from Hedgehog Protocol, and we've assembled here an incredible lineup.
So we have builders from Sonic Labs, Silo, Amped Finance, Fifth Network, Perk, Fly, and Sparta on Sonic.
And of course, Hedgehog.
Everyone shipping at the frontier of high-performance DeFi here.
So I want to do a quick mic check.
Let's see.
Can you guys speak just to make sure that I can hear you guys and everyone else can too?
Check, check.
Oh, good.
Test, test, test.
Yes.
GM, GM.
Awesome.
Perfect, perfect.
So we have a lot of people here today.
It's going to be really awesome.
I hope we can get a lot of information here from all of these projects.
So let's do a quick intro. I think that would be the best way.
So if each one of you can tell us a little bit about your project, what it does in one sentence, so we're not here for too long and what problem are you solving so i'm gonna do a little
like roll call here um and we can start with silo finance no particular order just the order that
you guys are showing up here on my screen sure sure uh yeah at silo we do risk isolated money
markets what that means is rather than one huge pool we we create pairs of lending tokens.
The real beneficial part of it is that if you want to,
let's say deposit USDC,
you can choose who you want to be a counterparty to.
Cool. Can we have Pith now?
Oh, I just saw that you guys are actually not here.
Let me put you.
While I do this, can you talk about Esco and introduce Hedgehog here for everyone?
Yes, I'm happy to.
So Esco, the founder or co-founder of Hedgehog Protocol,
we are doing synthetic block space,
hedging and trading on on-chain costs.
And what we are solving or doing, we are streamlining and making
blockchain operations more efficient for participants,
whether it's projects who want to hedge on their on-chain expenses,
like gas or priority fees or just a projects who are receiving
fee monetization, fee incentives, want to auction their incentives to get instant liquidity. So we
are basically all about making the old blockchain operations as efficient as possible.
Perfect. Next up we have Perk.
Hi guys, Perk here. I don't know, I don't want to claim too much credit,
but maybe we are a big part of the reason why everybody is here,
because we launched Sonic ecosystem pod pod which basically allows anyone to farm pre-tg
allocation of sonic native projects we are routing funds through silo and euler which basically the
yield goes to the project and projects give tokens to users and And also I see Fly here.
Hi, Ali.
We launched a single pool for Fly like a year ago.
So I'm excited that we meet again here now.
Nice.
So since you mentioned Fly, I'm going to call Ali up next.
Good to see you, sir.
I'm Ali from Fly.tradeade previously known as Magpie Protocol.
We're a liquidity aggregator.
We aggregate DEXs, blending protocols, vols, LSTs, LRTs and bridges.
What we allow you to do is to get you the best prices across all assets across all of
the chains we support which is over 18 EVM chains.
You non-EVMs being added soon. So we're the place for you to trade whichever asset you so desire.
Perfect. And Pes?
Hey, can you actually bring up our BD lead? His handle is XO Keiko.
exo keiko yes thank you just accepted the invite you should be up in a few seconds and keiko
Yes.
Just accepted the invite.
whenever you can talk you can unmute your mic and present pith network
hello hello all right there we go can you guys hear me yes we can all right hello friends i see
some familiar faces up here um yeah i'm uh keiko
over at pith network i lead ecosystem and onboarding to apps and uh getting projects
you know like like silo or mockify or these these other platforms on on sonic to use our price feeds
pith network is a decentralized oracle network over 1,500 price feeds live between crypto, stocks, equities, now futures as well.
We're bringing prices from centralized exchanges, on-chain exchanges, off-chain venues like banks, hedge funds, and other data providers to on-chain.
Available at 400 milliseconds.
Or if you want to use the off-chain, more centralized version,
it goes all the way down to one millisecond latency.
That is awesome.
So we also have Sparta here, but I think they're having a little issue.
I just sent them an invite again.
I don't think Sonic labs actually needs any intro but
since we have sonic labs here it's a big ecosystem space i'm gonna let you speak a little bit about
sonic ash for everyone here i think everyone knows what sonic is but might as well right
sure hey guys uh i'm ash uh marketing lead for as you said, yeah, we're just a blockchain.
So you guys are the real stars here.
We're just really here to support you guys with our infrastructure.
I guess what really makes Sonic stand apart is our focus on builders.
You know, rather than all these L1s and L2s that prioritize fees and money for themselves,
we've launched fee monetization, which gives 90% of the network fees back to the builders. And that's our sort of main selling point. So we've sort of like
made app chains redundant. You don't need to launch app chains anymore. You can just launch
in Sonic and you can get the same benefits and you don't need to pay for infrastructure or
interoperability protocols. You don't need to spend money marketing users and all these things
because we already have a really big good community so that's sonic
that's really awesome i was actually going to start the spaces here with a question for you ash
like specific for the sonic ecosystem since we're all gathered here um can you tell us a little bit
about the vision for the sonic ecosystem and how does sonic differentiate itself from other high
performance l1s i think you already like kind of pitched in on that a little bit.
Kind of touched upon it, yeah.
I mean, so what is a blockchain?
It's just a piece of infrastructure.
I think because of the current state of the industry,
blockchains have almost become like cultural items
instead of what they really are,
which is just the future of technological infrastructure.
I mean, that's what it is.
It's just a thing upon which builders can deploy their apps and do what they need to
So on the basis of that, we built, you know, the highest performance blockchain.
Oops.
Just a second.
I think there's someone with unmute.
Let me mute here.
Oh, no. There you go.
Yeah, so, you know, we're building the highest performance blockchain to support you guys' applications.
So we have subsequent finality, you know, TPS so large that you can never hit the roof.
So we got that under control, like the scalability. I think we've pretty much cleared that out of the way.
So the second challenge was how to incentivize builders
and really stand out in this marketplace
where there's all these L1s and L2s trying to stand apart.
And that's where fee monetization comes in,
which I explained you guys all know,
you guys are all earning from it.
So on top of that, we also stand apart
because we give a lot of support.
In my opinion, our team is dedicated 24-7.
You can get an answer anytime.
We're not siloed away from the community or from the builders.
We're sort of in the trenches with you guys.
And our goal really is to give you guys as many resources as possible.
I mean, we've got Account of Stacking or EIP 7702 coming up to give you guys the tools
to really create
web tool-like experiences and onboard more users
than ever before.
That's pretty much it.
It's very hard to stand apart in a space where there's all these L1s and L2s
and you ask yourself, what chain do you really need to deploy on?
But we've hit the nail on the head
with scalability and I think builder incentives now too.
So if you have an application,
there really is no better place to deploy it than Sonic.
Then the third problem becomes user acquisition.
Now that's obviously something we help with our marketing,
but I always tell apps,
it's a challenge that you need to solve
and we sort of amplify.
Think about it.
If you deploy a website at AWS, are they going to help you acquire users? That's sort of amplify uh you know think about it if you deploy website at aws
are they going to help you acquire users that that's sort of where i see this going uh we're
just we're just in a random place in the industry where the the blockchain itself is seen as a
player in the space instead of just an infrastructure provider and we're playing along with that and
you know providing marketing all these things but i don't think we'll really find success in the
larger scheme of things
until these apps sort of find a way
to acquire users by themselves.
And I think everyone in this space right now
has managed to do that without our help.
So it's good to see.
That's really good.
Thank you so much for sharing that with us.
Before I go to the next question here,
I'm going to have Sparta present itself
here.
Jim, Jim, Jim, it's great to be here.
What are you doing?
The audio is really
called on.
Okay, so the audio
we can't really hear
and it's kind of echoing for everyone.
I just muted everyone just to make sure
that
is it just me or is the audio kind of echoing for everyone. I just muted everyone just to make sure that...
Is it just me?
Or is the audio kind of bad for you guys too?
Okay.
Should we try that again?
Can you unmute Sparta?
Let's see if the audio is a little better now.
Or not? Okay.
Let's just go to the next. Do you want to unmute and see if your audio is a little better now?
Hold on. There you go There you go
Okay
Thank you
Is it better now?
Jim?
Not really
Just muted again
It's still
There's like a lot of noise
On the background
But we're just gonna keep
sound like Spartans on the battlefield
somewhere like
throwing arrows
and spears
to their conqueror
he's showing up with the spirit of his name
that's crazy
there's a message here like
Sparta is truly on Sparta
there's like a big echo and a lot of noise in the background.
But I'm just going to hop on to the next question here.
And I hope we can get that audio fix when I come up to the questions for everyone else.
But one last question specific for Sonic, because Ash did mention fee monetization, right?
And that's one of Sonic's core innovations.
I want you to talk a little bit more about that.
Why is it like a game changer?
And then after I'm going to have all the projects talking about it.
Sorry, who are you asking?
Okay.
All right, could you repeat that question real quick?
So fee monetization, why is it a game changer?
So I'll talk a little bit about app chains.
You know, why do we see, well, why have we seen in the last few years all these L2s pop up, you know, sort of out of nowhere.
When beforehand, you used to deploy in Ethereum and all these other L1s.
Of course, gas fees is one of them to have scalability. Ethereum chose the layer two route,
but like these vampires came in
and they became sort of predatory
in the sense that if you launch an L2,
it's a centralized entity.
You control the sequence,
so you control the validators.
So essentially what you do
is you bundle up the transactions
and you submit them back to Ethereum
and that way it becomes secure.
But let's say you have,
there's seven days
until your transaction is really final.
So first of all, you don't have good finality.
So these L2s can never become institutionally accessed
in the state they are right now.
On top of that, all the user fees,
because you control the sequencers,
you get all those fees yourself
as the company that deployed the L2.
The builders get absolutely nothing.
And I think there was a calculation done,
and I think it was only 5 or 10 percent of the fees that users submit on your L2
need to be used to submit those transactions back to Ethereum batches.
So essentially you earn 90 percent.
So it's like VM reverse for them.
They've taken VM and they've made it for themselves almost.
They get 90 percent of the fees into their own pocket.
And that's what BASE and a lot of these other chains
are doing right now where, well, they're taking the fees.
We don't know what they're doing with them,
but a lot of people are hypothesizing
that they're selling them obviously.
And that's maybe why there's this downward selling pressure
on Ethereum with all these L2s of profiteering
from the users, taking the ETH, selling it
and growing their own balance sheets.
What VM does sort of flips that on its head.
On an L1 now, we have taken this same model.
And instead of taking the 90% ourselves
or having it be distributed to validators
who still earn by block rewards, we instead
give those fees back to the builders.
So essentially, you don't need to launch an app chain anymore.
Also, if you launch an app chain,
there's all these infrastructure costs, interoperability costs,
as I said before.
You need to pay for Chainlink and all these other apps to launch.
But on Sonic, that's already there, all of them.
So you get the fees.
You don't need to pay for infrastructure.
There's already users.
And that's pretty much the selling point of Fiem,
creating a one-stop solution for all apps. That's perfect.
Now I want to hear for the projects that are already live on Sonic.
Are you guys taking advantage of the Sonic fee monetization model?
If so, how are you guys using those revenues?
I'm going to call on Perk first because that's who shows up on my screen.
Perk, okay.
Yeah, I think, you know, Per perk is really boring in that sense and we are working on
some new gamified mechanisms to actually leverage uh fm much more because last time I checked I
think it was two days ago we had like uh I don't know five uh s tokens or something in fm because basically we don't create too many transactions
right at this point uh there is no need with us you just users simply uh stick their tokens and
uh you know they can pretty much leave for two months to touch grass or whatever and then they
come back to to reap the rewards but uh plan is to to increase that through a little
gamification and basically distribute all these fees back to participants and whether it's users
or projects doesn't really matter we'll just give it back to whoever supports us. That's a really cool idea to kind of gamify it.
Looking forward to that, to see how it's gonna work.
So who wants to go next?
I think it would be better if you guys just open mic,
jump in instead of me just calling you up.
Yeah, sure.
Well, I can go next.
And I guess, I think this will actually probably lead
into what Keiko has to say about PIP because for us, right, we don't generate like a huge volume of transactions, although we do do a pretty good amount.
But it has really encouraged us to open up our avenues into, I guess, the more complex things that we didn't really want to touch because of the fees to the user especially but um it you know right now we're kind of studying like
well we're fully developing like on-chain leverage right like how can we bring on some of that high
volume kind of borrower into the system uh right someone that will trade on a chart will create a
lot more transactions than someone that will take out a loan and go use it elsewhere uh and then
the other really big thing that we've seen is,
well, a lot of the oracles,
and I think this really goes perfectly to Keiko,
are able to pay for their push models to be funded.
So I think I'll hand it off to Keiko on that kind of note.
Yeah, come on, don't steal my,
don't steal what I was gonna say.
But yeah, exactly what Tendit said.
This is the only chain that's doing this that pretty much allows us to almost 100% subsidize our, it's called a scheduler for us,
but essentially it allows us to push price updates on chain free of charge for specific feeds,
for specifically BorrowLend or Vault-type platforms.
We normally operate as like a pull model Oracle
where the project themselves kind of chooses
whenever they want to fetch a price update from PithNet.
But as I said, BorrowLend is more like the chain link push model.
So we do have an adapter for that called a scheduler,
and it does cost quite a bit in fees in order to run
because it's not on demand.
You kind of have to keep pushing updates for however long
or at whatever frequency the project needs it.
So yeah, it can cost a lot of money.
So this helps quite a bit
with that. And another thing is for token listings. We actually have not charged for token listings
on Sonic because of this fee rebate program. It's actually great for the ecosystem.
That's pretty cool. Those are all pretty good use cases. I love
hearing how projects are doing different things with FIM monetization. And I'm excited for us
to go live as well and see how we're going to do with that. Does anyone else want to say anything
else about FIM before I go up to the next question? I think it really quickly as an aggregator of the trading platform.
We execute a lot of transactions for users and we circle them back to the
traders as trading incentives, kind of unique token model, especially as it
gets into motion, will drive even more volume on Sonic and more transactions.
will drive even more volume on Sonic and more transactions and as a consequence more
fm for us which we circle back to the traders incentives so this works out quite perfectly for
us as a like I said as a trading platform executing transactions for users and yeah I think that's a
as a fun slightly different use case with others in the space but it's it's quite valuable for us as well.
That's pretty cool.
What I want to hear next from you guys, now for every project,
even the ones that are not live yet, why Sonic?
What made you guys choose this ecosystem as a launch or even integration point?
Well, I can go first.
I think I have been saying this,
already saying this multiple times in a multiple times a day,
but the biggest reason for us was the kind of a welcoming atmosphere
from the team itself.
We really felt that this is the kind of a chain
when we will be receiving all the support,
what they can possibly offer us.
At the end of the day, it's very important.
In our case, we received grants from multiple different chains.
But we basically, we didn't collect them and we decided to go with Sonic because
It's just money.
And the ecosystem support, which comes with grants,
are usually like 99%.
It's just like the chain posts something,
like reshare your tweet on their main account or something.
Something like that.
Or give you 10% discount you can get from audit.
But the real support is what we felt that we will be getting from Sonic.
And that was true.
We are very happy that we chose to build on it.
Because like I said, the amount of support is just insane.
And also because the fee monetization it's
it's kind of funny thing about fee monetization in our in our case is that we more are looking
at from the point of view what can we build around it and as as now what we are first first product
what we are launching around it is the is the fee monetization auctions.
But what else can we build and utilize it?
And it just kind of...
Of course, I always knew that, well, we'll be on Sonic,
we'll be also receiving fee incentives,
but it just kind of a few days ago hit me that,
hey, we really, that we will be really also uh receiving those
fee monetization incentives that that's kind of a nice and kind of fun paradox where you have
built something around fee monetization and you will be receiving those those incentives as well
so we can be then we can be then incentivizing our users and back our users with those incentives.
And we don't even think what all the possibilities, what we can do with it. But it's very important
and it's very kind of for a project or a company that you get additional revenue from somewhere.
This is kind of a very unexpected place to get it.
This is not something that you will need to build a new product
for you to kind of get that incentive and revenue.
It's kind of a you just, you are just like,
you are just doing your thing and simultaneously,
like automatically you are generating a new revenue.
That is a very cool part of the fee monetization.
Definitely.
Oh yeah, I was gonna call the next one up
so you can just go ahead. Yeah, yeah, I was gonna call the next one up. So you can just go ahead.
Yeah, I can touch base. I mean, you know, we definitely were speaking to the Sonic team very early on before Sonic launched it, or rebranded. And I think, obviously, like the team was super like, good with like, just having conversations around anything and everything, right? Like you had kind of an open door that that doesn't really happen with a lot of
blockchain foundations or teams.
So that was a major point for us.
And then we also really saw a huge opportunity in
cornering, I think, a lot of these derivatives that we saw coming on Sonic.
So we saw that there was a huge amount of demand
really for a protocol like Silo.
And yeah, I mean, you know, also I would say,
and Ash kind of pointed to this,
is that the Sonic team is app-centric, right?
Like they are focusing on the apps
and they understand that that is actually
their growth lever, right?
It's not like just promoting your blockchain,
but it's about kind of developing an ecosystem
and a network that can have a scaling effect.
So that might work well in the future.
Hi, everyone.
Now we can hear you. Yay.
Hello.
Hello. Hi. So sorry about that. think it's uh quite noisy where it was
uh let me straight to the points uh great to be here spada and sonic basically is storytelling
on chain where we're trying to merge asian heroism with what we're seeing every day real life on chain heroism from the sonic team
from andre uh being a pioneer in d5 being a pioneer in blockchain technology and so we released the
first nft comic book nft collection where we created all these legends from a rich history
of spartan history we chose sparta because of the resilience the courage and the
strength that sonic showcases even at times right now you can see uh the sun the entire community
comes together to support the tech to support what's novel and on that you're building up The audio is cutting up a little bit. There's a little static noise with it.
Oh, sorry about that.
Okay.
So on all of that, we built a Gamblefy app,
which will be out soon.
It's on Better Testnet.
And we are offering rewards while testing the app.
And all it does is it brings the best of the best in GambleFi together.
So that's just basically what we do.
Sorry about that.
Thank you for sharing with us what Sparta is doing
and it's really exciting to hear.
So we were talking why choosing Sonic, right?
So let's go back to the projects that didn't answer that yet.
I could go next.
Or Swarza, do you want to go?
Okay, great.
Well, Sonic was the fault choice for us because everybody just wants to be happy, have fun on chain.
Of course, they want to make money.
And these legends we were talking about, the memes we created, we created them from the Sonic team.
Andre, we renamed as Andrew Cole's, uh, cronginitis.
We have so many of this stuff.
It's just for the fun, the meme culture.
So Sonic was the go-to place for us.
The added bonus was that it's the fastest blockchain in the world.
Uh, Andre is being humble when he says, uh, when he tries not to call it real
time, but that's what it is.
Okay.
And at the end of the day, we have theme now the reason why the theme
is a no-brainer for any app developer because at the end of the day when uh apps are the the life
flow of any blockchain you know and um many times the developers are overlooked especially when
the ecosystem grows too big but when when you have something like Fee,
the developers are never overlooked.
And that's just the most important thing.
So that's the primary incentive to just keep building.
You don't need recognition from the team.
You don't need recognition from anyone.
If you do something good that people want,
you get rewarded at the end of the day. So nobody is upset because, okay,
I wasn't properly rewarded
or the team didn't honor me the way I should be honored
or, you know, I didn't make any money from my protocol.
So that was just it for us.
Sorry about that, Hedgehog.
You can go on now.
I really want to answer this question.
So I'll go next.
Yes, I was going to call you up, Ali.
Yeah, we support as a product, we support a lot of EVM chains.
We were pretty early on Phantom.
So at the time, Sonic was more of a calculated bet.
We were obviously very familiar with Andre's work, involved in most of the stuff that he
pushed out.
We knew Johan and how smart he can be
with a lot of the things that he comes up with.
And so it was more like a calculated bet.
I was like, this sounds great.
And for us, it was beyond just adding support
because we are a multi-chain protocol.
It was more about also having Sonic,
being a Sonic native protocol
in the sense of getting our token out there.
So it was a massive decision for us.
And at the time, a calculated bet bet the tech looks or sounds awesome we were live well
like i said we're live on phantom it was really good for its time um we're live like day one day
two on sonic um and looking back we kind of got more than what we expected you've got the likes of
um well of course johan Johan that kind of assists you
in a lot of the token modeling stuff that you want to do. You've got Matt that is really
fighting the good fight behind the scenes. Like a lot of people will probably never know the extent
of support that the team provides across the board. Andre himself advising and giving opinions on
on the technicalities of what we're doing and what we're not.
And so we got way more than what we expected.
One of the funny things I remember was our BD lead, Francis,
he made the statement like, if we're going to pick a hill,
Sonic is like the hill to die on, if it comes to that,
which has a negative connotation to it.
But we were comfortable that this is what we call home.
And then we're just going to go off to the races with them.
And we go where it goes.
And so at the time, it was a calculated bet, a risk almost.
But looking back, it was way more than what we could have ever expected.
And I had a highly recommend for any.
And then you've got the likes of Ash.
I can't name all of the team members,
but literally everybody is extremely active
in supporting you.
And there's VM and speed and all of that,
that everybody's talked about.
But yeah, that I feel like is something
I just wanted to share.
This is kind of like a required team on Sonic.
Like what the fuck is this?
Everybody wants it. Like yesterday we had a space with Shadow, required like team on on on Sonic like what what the fuck is this everybody was like yesterday
yesterday we we had a space with Shadow and 24 basically said the same that like we will be we
will be like live and we will we will die of Sonic so like I think like people are really really
want to sacrifice their lives for Sonic so it's the culture. Beautiful. Yes. Yes. That's the spot and culture. Oh yeah, exactly.
I was going to mention that. It's so funny because like we've been talking to a lot of projects on
Sonic every week on Spaces. We met a lot of you guys personally in Austria when we went there for
the event and I haven't heard one single project say anything
different about Sonic and it makes me like really happy you know because even when we're offline
all I hear is a lot of support and all these projects just being like really
hyped about Sonic and I think this is like really really awesome.
Did someone did not answer the question on why Sonic?
I got kind of lost here because there are so many of us.
I didn't answer, but I'm just looking for, you know, a thought or something
because like everybody is just praising Sonic.
But I can't help it.
I must agree that it makes so much sense.
And we've been looking for something for for a team or a home
that will support us in a way that sonic does and i think it's fucking awesome in general it just
makes everything so much easier and feels like you know like uh natural that things are supposed
to be this way that uh you know if you build with someone and they support
you because you are the the project that is supposed to bring that activity and
users and everything to to them so yeah yeah I can speak I can speak from like a
more neutral standpoint I actually haven't commented yet. So as an Oracle network, yeah, we don't really have a chain
that is necessarily our home.
I mean, we ultimately are our own app chain,
so we don't really live anywhere.
But from a BD perspective, you definitely have priorities.
You kind of set your own priorities on ecosystems
and teams that you believe in,
and Sonic is definitely one of those.
I know many people have already commented on the team that is running Sonic, and coming from
an OG Phantom user, I actually got my start in DeFi from the Phantom chain. The fact that the team
is around and still building and innovating is insane, so hats off to them for that but also also the tech um at pith our main
customer is is perp texas um we we prioritize high frequency trading um and high transaction volume
and obviously sonix tech is a breeding ground for uh innovation for this type of product.
So that's ultimately what we were most excited for.
This set an amazing foundation for some innovations to happen in the Perp Tech space.
And we're really looking forward to that piece on Sonic.
That's awesome. I think that was everyone. I want to talk a little bit here about the Perk pod, the Sonic pod that was launched on Perk, right?
That's awesome. I think that was everyone.
But the pod reached over 1 million TVL in under a week.
And I think that's a really strong signal.
It's really awesome, makes me even more bullish on Sonic
and all these projects.
I want to hear from you guys that are participating on the pod
and perk as well.
What does this tell us about the community demand
for new primitives launching on Sonic?
And how do you think this momentum can be sustained or even scaled?
Well, I can answer from the project side of it.
I think this is a nice way to kind of see the early validation
of your project, of what kind of a launch
you will be possibly experiencing.
And especially why we chose Perk is that the possibility when you are not yet live,
you don't have yet your token token token life or or mainnet this was very
a good opportunity for us to kind of contribute to give to that community has who has been with us
like since since we have started started building to the for them to kind of participate and to participate in these pre-TGE bots, so they can earn the yield as tokens.
And for projects like us, who are not live, we cannot really tap the narrative of,
which is a big narrative now, the airdrop narrative on Sonic.
And we cannot really tap on that.
But because of the bots, now we are kind of in that narrative as well,
because the fans are rooted to different different uh point giving
begin apps like like silo for example so this was our way to also kind of adapt that narrative so
this is my project perspective why we really chose the gold perk
That's fantastic. Also from a project's perspective, having pre-TG tokens and
having idle capital come together is a no-brainer. Actually I was speaking with
the PERC team and I was like this is just so mind-blowing because many times
what happens is the average user gets his yield.
It could be a thousand dollar yield, okay?
But it's not very much on its own.
You know, it's like a broom on its own.
It's not very much.
But when it comes together, a whole broom can do a lot.
You know, a fist together can do a lot.
So what PERC basically does is allow this idle capital to work for you for farming and supporting these projects that are projects in the early stages and then you get access to the best but without
losing that capital you can you can put out any time you know but then you have these tokens and
instead of going out there hunting for tokens one day you have liquidity the next day uh you exposed to uh
a zero kind of uh uh zero days exploit or zero day scam or something like that and then you lose all
that tokens okay so it's best you farm uh pre-tg tokens have access to these tokens that will come out and then have access to
the profit from the tokens you know so i feel like this is what's been happening in tribe 5
for a long time in the banking sector i i spent two years of my life in in finance okay and it's
what happens when you take loans and the rest the bank basically takes
your money which is idle capital they're not putting in a vault okay they're moving it into
businesses and they're making a lot from it from speculating in projects from speculating in google
when it came out from all this and then you're not getting anything on it, but just 2% interest.
So bringing it, it was just the normal way to go.
And since Perk, bring it to DeFi, automate it,
it's just 100% the way to go.
And I'm happy that this innovation is on Sonic.
Because Sonic has always been a pioneer
when it comes to innovation.
When we talk about the newest theme,
even what we're building in Gamblefire,
it's always innovation.
It's hard, apart from the Dexies,
I hardly see a project doing the same thing.
Even
Shadow on Sonic is an innovation
on Solidity. It wasn't just a copy
of Solidity. It was an innovation
on it.
So it's full of innovators and it's just amazing to have that as part of the Spartan
culture on Sonic, where people are trying to do the impossible, create something new,
make legends of themselves on tune.
Does Park want to talk a little bit about the pod?
Do I have to?
I mean, from our perspective, what's exciting is that,
so basically where we focus or what we focus on is to bring all the ecosystem players together over time, you know,
and I think that the response from the ecosystem has been really like exciting, especially on the
project side, where we have like, after the launch, I think we have like five or six new like leads,
basically projects that want to join this initiative.
And that's like the proof of success for us, really.
Like the TVL, you know, it always comes and goes,
even though like it's more sticky than just usual trading.
For us, it's really about like, okay, this makes sense for projects because they usually before their tge they just
don't have a proper call to action or a way to engage uh with the community you know and well
now you have you know and it doesn't matter if you if it takes you three three months or six months
or a year uh to launch uh you kind of like gained that early traction and gained that
early support that you need so like uh one thing is the revenue but the other thing is really that
you can actually show yourself to the world in a way i think maybe ali can talk about it a little bit more since like fly uh had a had a pool uh on on perk
basically a year ago and i'm really excited to see like uh after you guys uh go through tg like uh
the case study basically here like how how it helped to get like early users uh and that revenue and how it translated to
like the higher yields for users that were waiting for over a year patiently uh to get
their their farmed fly tokens yeah i was gonna say it perks legit we had a early launch pool last
year uh if you guys are familiar with fly or magpie, we've pushed a TGE for a while.
And indeed, a lot of the perk formerly known as Drip, we're pretty patient with that.
And it's effective.
The model works.
It's real yield that you as a project get.
And the capital that is provided by LPs earns them their share of the tokens.
It's legit.
It works.
It's effective.
I'm excited that that perk is on Sonic as well.
And yeah, we had the best experience.
Also as an early background perk.
Yeah, I'm pretty confident that it's going to bring a lot of value for other tokens that intend to go live on Sonic.
It's a really good way to drive value for you as a project and also to get exposure to newer holders, power users, really.
So yeah, it's legit and we've had the best of experiences.
And I'm excited that the Perk users who participated in our launch pool will finally see their tokens. So I'm excited for that.
That's awesome. You guys actually even answered my question a little bit. That would be like why the projects should use the Perk pods. What were the benefits? But I think everything was covered. Would you guys like to add anything more on that? Or I think we covered everything, right?
Yeah, like maybe I can one more thing
that I would like to add.
Like the permissionless nature of the whole thing,
you know, that anyone can join.
And it's open for everyone to get their fair share
of whatever they are bullish on and discover new
stuff. So that's like one angle. And then another angle for me is like getting the projects. I see
Silo here, Tencent, and basically they can farm this spot as well, you know, so they can get
this spot as well you know so they can get a token allocation that they can use to incentivize the
users and contribute to like uh better um a one distribution of like uh all the pot participant
tokens for example and there are other more like whale slash institutional entities that they can join and pretty much do the same.
You know, it's basically incentives
on top of incentives on top of incentives
that are incentivized by Sonic Labs, by their VM,
and by the airdrop as well.
So it's kind of like exciting to see all this in action.
Yeah. So it's kind of like exciting to see all this in action.
Yeah, and from our side, I'll just say, I guess, you know, we're one of the underlying yield providers.
And so our role really in the pod is critical.
And at Silo, we provide some pretty magnificent yields.
So it also makes sure that, you know,
you're basically taking like a higher leverage on the yield that you earn through the pod.
And we make sure that you're taking that leverage on a yield that is sufficiently high enough.
Right. And so that's really where our role comes to play.
And, you know, we think it's a fantastic thing for us and lending protocols, since it also does rebalance liquidity based on on efficiency
right uh we do have uh i think boiler and one more other person is it just oiler if it's lending on
but anyway um yeah yeah we have uh euler and uh you guys and uh are there as well but uh it's not
like i think that right now there is no allocation towards Aave and we are like 5050 split between Euler
and Silo, but there is like automatic, what's the word?
Rebalancing based on the best yields.
So there is like this hidden war, you know, on the API level that who gets the TVL?
Is it you? Is it Euler?
Is it going to be some new player?
So there is this endless way to boost the incentives.
And the more TVL we bring, the more exciting it will be to see who's
going to get what in the end.
That is really awesome.
I love the idea of the pod.
I love that we are part of the pod.
And I also put some USDC in there
to get some of those tokens as well.
So even as a user, I thought it was pretty easy to do.
I even wrote a little thread about it today in Portuguese.
So to get all the Brazilians out there to learn a little bit more about Sonic, Perk, and all these projects that are about to launch on Sonic as well.
So guys, we are almost an hour in.
This is crazy because there's so many people here.
We can't really go really deep.
A lot of you, we already had up on our weekly spaces.
Whoever we didn't, I will be sending you invites
so we can talk a little more about each one of these awesome projects.
But what I want to hear from you guys,
my last question pretty much is, do you guys have any alpha from us? Because we do have a lot of
listeners here. And I know that a lot of these people are here just to hear any news, any big
updates, releases, partnerships, or anything you can share with us?
Who wants to go first?
Oh, I got some alpha.
So, I mean, today we just posted a proposal for X-Silo revenue distribution.
It's about 50% of, well, it is 50% of all the revenue generated by the markets, going back to ex-silo stakers, which is a similar model to X-Shadow and X-Shadow. So I would recommend you go take a look at our governance page. Yeah.
Sparta, do you want to give your alpha now oh yeah oh so right now we are now we're testing
our gamble fire basically what we're doing is using yield financing uh in the gamble
fire so it's something innovative where people can play and instead of ponzi's where the early people make
money off everyone and throw everyone out uh one or two people win the prize and then circulate
that money back into the pool and but in while you're doing this for every dollar you spend
you get uh your finance back to ensure that you get value for your money so we're distributing uh uh at a time where after
our tg we're distributing spot on sonic depending on how frequently you play and the most popular
meme right now the uh the most popular meme is the forbidden lamp which is moth and in test net
right now what we're doing is we're distributing moth to everyone who plays in better tail nest
now what we're doing is we're distributing moth to everyone who plays in better tail nest
but um we're also giving them uh 19 okay for anyone who wins a pot price okay and each time
you play the pop price increases which is basically what sonic did and they are in the hackathon and
during the vienna summit so it's basically that So if you play on testnet right now, you
have a chance to win $19 and help us before we launch the GambleFi game. So that's the offer right now.
Okay, I can go then. So Alpha from Hedgehog is that we are launching our own points campaign real soon.
It will be on a mini app. We have built a Telegram mini app for it. So basically,
entire quest will be inside the app. So there will be social quests. There will be a
the app so there will be a social quests they will be a gas trading opportunity
so you can be you can trade gas and depending on how good of a trader you
are you will be earning points but will we also introduce a gas casino in there
so you will be able to gamble your points on base B binary options.
So basically it's a five seconds interval and all you need to do is just guess.
The base will be up or down in five seconds and you can double or nothing your points.
I have been testing it or outside team has been testing it for a while now
and I'm super addicted to myself. I fucking keep losing all of my points and then getting more.
So yeah, that kind of a quest is coming up real soon.
I am so excited for a mini app. I'm really addicted to it, guys. I've been testing it for a couple of days.
Been to zero, kind of got some back. So it's nice because it's just points, you know, those points will be useful for something.
But at least it's not like, but I got to say I'm addicted. Do we have any other alpha coming up?
Do we have any other alpha coming up?
Anyone else?
Anyone else?
I'll go next because I was actually curious about the pricing on the mini app.
I'll do a little bit of BD.
I was curious how you were checking the prices.
Obviously, I'm biased because I'm at an Oracle.
So, yeah, we could chat about that in DMs.
Yeah, yeah, yeah.
Let's do it.
So, now it works on testnet.
So, it will be like off-chain app. And we have built our own Oracle's do it. So now it works on Testnet. So it will be like off-chain app.
And we have built our own Oracle network from it.
Because it's for specifically for the price of base fee,
we didn't get like Oracles who can provide that specific price fee.
So that's why we needed to build an oracle network.
And this also comes to my mind,
100x pages that we need to talk about this
because it's kind of something we need to solve.
Absolutely. Would love to chat.
But yeah, some alpha, not necessarily alpha,
but some upcoming things from the Pith side.
We've been working on quite a few products in the background.
There's one that I can kind of talk about now.
I had mentioned the Pith scheduler and pusher earlier when we were talking about the sonic rebates.
And now we actually have a new product coming out.
Within the next few months,
I would say I'm not going to promise a deadline, but it's much closer to being done than it was a few months ago. It's actually called Pith Pulse. And it's essentially a different spin on this
scheduler program that makes it much easier for apps to use and kind of customize what feeds they
need to listen to.
So that's in the pipeline,
and that might be interesting to you guys, Tencent.
Yeah, absolutely.
We can talk about that as well.
No, sorry.
I'm just replying, but go for it, Ali.
Yeah, I've got a bit of alpha.
6th of June, the biggest, meanest TG on Sonics coming up with Fly.
We'll be available on your favorite decks and your favorite centralized exchange.
We're bringing trading incentives.
If you're a trader, we're going to be the best place for you to trade.
We're going to bring up volume.
We're going to bring out incentives.
So, yeah, that's a bit of alpha.
Follow FlyTrade, Fly.Trade.
We've got a lot of stuff lined up for the next week,
all building up to the 6th of June.
So lock in, guys.
Everyone's silent now.
No one wants to say anything else any news here
Sonic Labs
what have we got cooking there
anything new for us
yeah Ash give us Alpha
come on
give us something
I'll tell you some stuff you know it's coming
but we probably will announce
Singapore next week
already some information out there about it
if you know how to scour the internet.
Other than that, so you'll find that out next week.
It's going to be like we were initially going to do it shorter than Vienna,
but now it's going to be longer than we anticipated.
So it's going to be good.
Other than that, most likely next week.
I mean, you guys, the people who are at Summit in Vienna
know a little bit about the Season 2 of the Points Program
because we shared it on stage,
but we haven't really fully publicly put it out there,
but next week we will.
So you'll find out more about Season 2 of the Points Program,
which has some changes to it.
We're sort of taking a different direction there.
That's all.
Both of those are next week.
And that's pretty much all I can share for now, I think.
That's good that you said
about you will be saying the dates from Singapore soon
because I was just yesterday thinking that I need to DM you because I need to
tell to my wife that my Singapore trip will be a bit longer than
it used to usually usually oh i can tell you the dates it's september september 29th and september
30th okay great so it just this is live on luma so i'm not all right oh all right nice great
so two days now that's gonna be awesome if you guys did an awesome job in one day in Vienna,
I can only imagine two days in Singapore.
I'm excited for that.
Yeah, we have some really good people in charge of that right now.
I mean, pushing ahead strongly.
And because of the interest, I think they started to send it to two days
instead of just one.
That's awesome.
Really awesome.
So new music merch is coming to Singaporeapore right yes yeah yeah don't worry the
merch will be i'm not gonna i don't even know what the merch is gonna be i just know it's gonna be
sick so yeah sonic does a pretty good job with the merts and t-shirts. So excited to see that as well.
Did anyone not say anything?
Everyone needs to give at least one little alpha or partnership or news about the project before we wrap this up.
No? Okay. Did everyone go? All right. So I guess, guys, that's a wrap on today's Sonic's ecosystem megaspaces.
I guess, guys, that's a wrap on today's Sonic's ecosystem mega spaces.
A massive thanks to all our speakers here for sharing some insights
and on-the-ground perspective about building on Sonic.
If you're curious to learn more, please reach out to the teams here.
Follow them all on X here.
Enter their communities so you can stay on top of all of the news
and everything that we're
cooking here in the sonic ecosystem so i would like to thank everyone and i guess i'll see you
on our next basis thank you guys thank you thank you very much guys thank you so much appreciate
it thank you thank you everyone and remember be legendary Thank you.
