<p>Sonic is the Internet Computer DeFi hub to enbale users to make swaps, earn LP rewards, and create LP for any listed token. It has the following advantages compared with other DeFi projects.</p><h3 id="1-defi-standard-for-internet-computer-defi-projects">1.  DeFi standard for Internet Computer DeFi projects</h3><p>Sonic is an open DeFi suite open internet service built on the Internet Computer blockchain. It provides APIs for other dapps to integraet swap, liquidity, and assets-related functionality based on the DIP20 token standard. As the ecosystem of Internet Computer grows, the following DeFi prjoects prefer to use Sonic-js to accelerate their development.</p><h3 id="2-zero-gas-fee">2.  Zero gas fee</h3><p>The Internet Computer uses a reverse gas model to let developers/project teams pay for gas. What users need to do is to interact with smart contracts. This can be very attractive to current Web3 users and bring more users into Web3 since many users suffer from the high gas fee and many Web2 users do not know how to purchase crypto assets.</p><h3 id="3-defi-hub-for-internet-computer">3.  DeFi hub for Internet Computer</h3><p>Sonic provides swap and liquidity service for users at the moment. It plans to provide synthetic assets and perpetual contracts to enhance its competitiveness in the DeFi ecosystem and attract a broader user base interested in trading synthetic assets and crypto derivatives</p><h3 id="4-multi-canister-architecture">4.  Multi-canister architecture</h3><p>Sonic has developed a multi-canister architecture to accommodate the growing needs of the platform, enhance its performance of paralleled trading and make it possible to be truly decentralized in the future.</p><p><img src="https://wdcdn.qpic.cn/MTY4ODg1NjUzMDQ2MzM5NQ_541549_T2HFCoEwhcww9xks_1684999168?w&#61;653&amp;h&#61;345&amp;type&#61;image/png" /></p><p><a href="https://sonicdex.gitbook.io/sonic-whitepaper/future-of-sonic-roadmap" rel="noopener noreferrer nofollow">Future of Sonic - Roadmap - Sonic Whitepaper</a></p><p>Although Sonic is a great project on the Internet Computer blockchain, there are some concerns about it.</p><h3 id="1-complexity-causes-vulnerability">1.  Complexity causes vulnerability</h3><p>When synthetic assets and perpetual contracts are added into Sonic, the complexity of the whole business model increases rapidly and there may be unexpected vulnerabilities that are difficult to be found and fixed.</p><h3 id="2-how-to-make-the-ecosystem-grow">2.  How to make the ecosystem grow</h3><p>The TVL of Sonic is about $300k which is not an exciting number and that is the total TVL of the Internet Computer Protocol.</p><p><img src="https://wdcdn.qpic.cn/MTY4ODg1NjUzMDQ2MzM5NQ_93007_ax4lPGDsHITwuD-3_1684998781?w&#61;2360&amp;h&#61;982&amp;type&#61;image/png" /></p><p><a href="https://defillama.com/chain/ICP?tvl&#61;true" rel="noopener noreferrer nofollow">https://defillama.com/chain/ICP?tvl&#61;true</a></p><p>Dfinity needs to provide more support for the ecosystem like fund raising from prestigious VCs, not only from the community to help its ecosystem grow. Community matters but good VCs are expert in maket making, product development, and brand marketing.</p><p>Sonic is a well-developed project and the team keeps building in the bear market. It has occupied leadership position of ICP ecosystem. We would like to see its growth and success which helps accelerate other DeFi projects to emerge on the Internet Computer blockchain.</p>

Sonic - AMM & DeFi Hub on the Internet Computer

Obsah

Beosin

Ďalšie články zverejnené 25. 5. 2023

Epic Bitcoin Pizza Day Celebrations, 122 Winners Awarded & Brand New Bitcoin Prizes in Play!

Stably Introduces Stably USD: A New Stablecoin for Smooth Bitcoin Trading on the Blockchain

Solana Foundation Integrates AI with ChatGPT Plugin

Gold Guaranteed Coin: A Stable and Secure Investment Opportunity

XRP Holders Rejoice: Eligible for Exciting Airdrop Opportunity

Web3 RoundUp: Boxel for business use-cases and application development

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!