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George Town, Cayman Islands, January 14, 2025, Chainwire – Sonic Labs today announced the launch of its Points Program, an innovative incentive framework designed to reward users and drive DeFi growth on Sonic.
Through a multi-tiered approach combining passive asset holding, active liquidity deployment, and developer-focused “Sonic Gems,” the program will distribute approximately 200 million S tokens as part of the S airdrop.
This initiative positions Sonic as the leading platform for DeFi enthusiasts and newcomers, providing an ecosystem where users can improve 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 network liquidity.
3. Application points (Sonic Gems)
In addition to the user-focused portion of the airdrop, Sonic Labs designed a developer-focused portion in which participating apps compete for an allocation known as Sonic Gems. Apps can exchange these gems for S tokens, which they can distribute to their users as rewards through independent points programs.
By controlling token distribution, applications can design tailored points programs by incorporating weighting factors based on the total liquidity provided by a user or the duration of capital deployment. The competitive aspect of Sonic Gems allows users to strategically choose applications that demonstrate strong Gems earning potential and offer well-structured points programs, thereby optimizing capital growth opportunities within the ecosystem.
Whitelisted assets
To earn points, users must select from Sonic’s initial list of whitelisted assets, which ranges from scUSD, USDC.e, and scETH, to other select tokens. Notably, Assets increased multipliers in the initial phases of the points program to drive rapid adoption.
Additional assets may be added to the whitelist in the future, ensuring the continued evolution of the ecosystem.
Rings: Infusing Sonic Apps with Liquidity
An important part of Sonic’s liquidity strategy is Rings, a yield-bearing stablecoin protocol. By depositing stablecoins or ETH-based tokens, users can create scUSD or scETH (both whitelisted assets).
While these tokens are deployed on Sonic, the collateral used to create them is sent to vaults on Ethereum operated by Veda, where they generate yield. The generated yield is periodically converted to scUSD and sent back to Sonic, where it is dispersed among DeFi applications in the form of liquidity injections.
This cyclical flow not only amplifies users’ revenue potential, but also provides DeFi applications on Sonic with a stable influx of liquidity, which ensures deep liquidity pools, more robust lending markets, and a healthier DeFi landscape in its entirety. together.
Rings is a third-party project and 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 their earned points
- View the list of participating apps
- Get whitelisted assets through a simple interface
- Generate a referral code and share it with your friends to get extra points
- View a leaderboard that displays points and gems earned by users and apps
A new approach to DeFi
The Sonic Points program highlights Sonic Labs’ commitment to providing users and developers with a dynamic range of opportunities. Through passive holding, active liquidity provisioning, and Sonic Gems, participants can access innovative reward mechanisms while helping to drive greater liquidity and wider adoption of DeFi on the platform.
Overall, Sonic’s tiered incentive system and high-performance infrastructure sets a new standard and positions the chain as a leading 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 for enhanced liquidity and asset security.
Contact
Sonic Labs
(email protected)
