Sonic

Fantom (Migrated to Sonic)

<ul>
 <li>Sonic Labs partners with Silo Labs to integrate risk-isolated lending markets, enhancing their ecosystem’s security and efficiency.</li>
 <li>Sonic Labs and Fantom announce a $200 million Innovator Fund to accelerate dApp adoption and blockchain innovation.</li>
</ul>
With their strategic <a href="https://x.com/0xSonicLabs/status/1826288291651399791" rel="noopener noreferrer nofollow">alliance</a> with Silo Labs, Sonic Labs has lately created waves in the crypto space and is expected to greatly improve their product after release.
Silo Labs offers a non-custodial loan system known for generating risk-isolated money markets, a crucial capability supporting a variety of crypto assets, including the eagerly awaited S token.
Sonic Labs, which formerly was Fantom, is scheduled to move its original token, FTM, into the new <a style="color: #008000;" href="https://www.crypto-news-flash.com/fantom-ftm-announces-new-s-token-and-funding-for-sonic-network/" rel="noopener noreferrer nofollow">S token</a> as part of its integration process. A major turning point in Sonic Labs development, this relocation promises users a more safe and simplified experience inside their ecosystem.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We're excited to announce our partnership with <a href="https://twitter.com/SiloFinance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SiloFinance</a>, available on <a href="https://twitter.com/hashtag/Sonic?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Sonic</a> at launch <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Silo is a non-custodial lending protocol that provides risk-isolated money markets for a wide range of crypto assets, including <a href="https://twitter.com/search?q=%24S&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$S</a>.
 𝗦𝗶𝗹𝗼 𝗨𝗻𝗶𝗾𝘂𝗲 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲𝘀:
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/sb7NkRmAmP" rel="noopener noreferrer nofollow">pic.twitter.com/sb7NkRmAmP</a>
 — Sonic Labs (prev. Fantom) <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@0xSonicLabs) <a href="https://twitter.com/0xSonicLabs/status/1826288291651399791?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-higher-borrowing-efficiency-and-customized-lending-benefits-with-silo-labs-strong">Higher Borrowing Efficiency and Customized Lending Benefits with Silo Labs</h2>
Particularly with linked assets like LRTs and LSTs, Silo Labs provides one of the special benefits in terms of higher borrowing efficiency. This function helps consumers reduce risks and enhance their borrowing possibilities.
By using bespoke interest rate curves for every market, Silo’s system is also meant to provide lenders with better capital efficiency. This means that the platform appeals to a wider spectrum of players since lenders can gain from more customized and maybe profitable loan possibilities.
Furthermore, Silo’s segregated risk structure guarantees that users may lend and borrow with more confidence, free from worries about cross-contamination across assets. This feature of Silo’s design improves user confidence in the dependability of the platform as well as the safety of the transactions.
Just a week ago, CNF also <a style="color: #008000;" href="https://www.crypto-news-flash.com/sonic-labs-and-safe-join-forces-for-seamless-asset-management/" rel="noopener noreferrer nofollow">reported</a> on the Sonic Labs partnership with Safe, which aimed to enhance security protocols and offer flawless asset management for developers inside the Sonic network. This cooperation emphasizes Sonic Labs dedication to providing its consumers a strong and safe surroundings, confirming its place in the market.
Apart from these advancements, Fantom and Sonic Labs also revealed the $200 million <a style="color: #008000;" href="https://www.crypto-news-flash.com/breaking-fantom-and-sonic-labs-launch-200m-innovator-fund-for-dapps/" rel="noopener noreferrer nofollow">FTM Innovator Fund</a> in June. This fund is especially meant to increase the acceptance of distributed apps (dApps) by means of strategic grants.
The awards are meant to give current Fantom ecosystem apps top priority, therefore encouraging ongoing blockchain innovation and promoting expansion in this field.
Meanwhile, FTM is trading at almost $0,4588 at the time of writing, showing a notable 14.59% growth over the last 24 hours. With this increase in value, FTM ranks among the top five gainers of the day.

Sonic Labs Partners with Silo Labs to Boost Ecosystem Security and Innovation

Table of Contents

Crypto News Flash

Other articles published on Aug 22, 2024

CBDC Debate: Freedom vs. Control, Experts Weigh In

Pump.fun Makes Token Creation Free, Shifts Initial Fee to First Buyers

Floki Becomes Official Partner of Nottingham Forest for Premier League 2024/2025 Season

BabyDogeCoin Launches Petition to Secure Binance Listing

Bitcoin futures open interest surges $1.3B post-fed meeting minutes

Is Tron the New Ethereum Killer?

Join our free newsletter for daily crypto updates!