George Town, Cayman Islands, January 14, 2025, PakGazette
Sonic Labs today announced the launch of its points program, an innovative incentive framework designed to reward users and spur the growth of DeFi on Sonic.
Through a multi-layered approach that combines passive asset holding, active liquidity deployment, and developer-focused “Sonic Gems,” the program will distribute around 200 million S tokens as part of the S airdrop.
This initiative positions Sonic as the premier hub for DeFi enthusiasts and newcomers, offering an ecosystem where users can enhance the utility and opportunities of their assets.
Three types of points
The Sonic Points program offers users multiple opportunities to accumulate points:
1. Passive Points
Holding whitelisted assets in a Web3 wallet, such as Rabby or MetaMask, or a hardware wallet allows users to accumulate passive points, while assets stored on centralized exchanges are excluded.
2. Activity Points
If users choose to deploy whitelisted assets as liquidity on participating applications, such as DEXs, lending protocols, or other applications, they can earn activity points in addition to their passive points. This approach incentivizes users who actively contribute to the network’s liquidity.
3. Application Points (Sonic Gems)
In addition to the user-focused portion of the airdrop, Sonic Labs has designed a developer-focused portion where participating apps compete for an allocation known as Sonic Gems. Apps can redeem these gems for S tokens, which they can distribute to their users as rewards through separate points programs.
By controlling token distribution, applications can design custom points programs by incorporating weighting factors based on the total liquidity a user provides or the duration of capital deployment. The competitive aspect of Sonic Gems allows users to strategically choose apps that demonstrate strong Gem earning potential and offer well-structured points programs, optimizing capital growth opportunities within the ecosystem.
Whitelisted Assets
To earn points, users must select from Sonic’s initial list of whitelisted assets, ranging from scUSD, USDC.e, and scETH, to other select tokens. In particular, assets have boosted multipliers in the initial phases of the points program to encourage rapid adoption.
Additional assets may be whitelisted in the future, ensuring the continued evolution of the ecosystem.
Rings: Infusing liquidity into Sonic apps
An important element in Sonic’s liquidity strategy is Rings, a yield-generating stablecoin protocol. By depositing stablecoins or ETH-based tokens, users can mint scUSD or scETH (both whitelisted assets).
While these tokens are deployed on Sonic, the collateral used to mint them is sent to vaults operated by Veda, where they generate yield. The generated yield is periodically converted into scUSD and connected back to Sonic, where it is distributed among DeFi applications as liquidity infusions.
This cyclical flow not only amplifies the earning potential for users, but also provides DeFi applications on Sonic with a stable influx of liquidity, ensuring deep liquidity pools, stronger lending markets, and a healthier DeFi landscape in general.
Rings is a third-party project and is not affiliated with Sonic Labs. Users can learn more about Rings here.
Airdrop Dashboard – All-in-One Hub
The Sonic Points dashboard is a comprehensive platform where users can:
- Check your earned points
- Check the list of participating applications
- Get whitelisted assets through a simple interface
- Generate a referral code and share it with friends to get extra points
- View a leaderboard showing points and gems earned by users and apps.
A new approach to DeFi
The Sonic Points program underscores Sonic Labs’ commitment to providing users and developers with a dynamic range of opportunities. Through passive holding, active liquidity provision, and Sonic Gems, participants can access innovative reward mechanisms while helping drive deeper liquidity and broader DeFi adoption on the platform.
Overall, Sonic’s multi-layered incentive system and high-performance infrastructure set a new standard and position the chain as a top-tier DeFi hub.
About Sonic
Sonic is a high-performance EVM L1 platform that offers developers attractive incentives and powerful infrastructure for DeFi. The chain provides 10,000 TPS, sub-second confirmation times, and a secure gateway to Ethereum to improve asset liquidity and security.
Contactsonic laboratories[email protected]
