Welcome to Sonic Finance
What is Sonic Finance?
Last updated
What is Sonic Finance?
Last updated
Sonic Finance is a decentralized non-custodial liquidity market protocol where users can participate as stakers or farmers. Farmers provide liquidity and stake lp tokens to the market to earn a passive income, while stakers can stake in a pool or undercollateralized (one-block liquidity) fashion.
SONIC FINANCE is Scalable, with low slippage and single-sided staking stableswap backed by Sonic Finance Labs. To BNB and beyond, based on one of the most extensive Defi protocol AAVE. AAVE has become one of the space's most respected and secure protocols, but SONIC FINANCE wants to do things differently.
The Sonic Finance protocol has no governance and VCs; instead, it features revenue-earning token-sharing platform fees between token holders and liquidity providers. The protocol will always be permissionless for everyone to use on the same basis.
Utility: staking and locking As SNC has no governance or ownership, there is also no protocol treasury. Instead, 50% of the revenue generated through borrowing is distributed directly to users who stake SNC. Both stakers and farmers receive SNC rewards to incentivize protocol use. SNC liquidity mining employs a mechanism first introduced by Sonic Finance Swap on BSC.
Rewards are vested for 3 months but may be claimed immediately for a 50% penalty. The penalty is then distributed to users who lock SNC for 1 month, 3 months or 6 months. This mechanism ensures steady rewards for those who actively commit to the protocol by locking their tokens. SNC stakers receive protocol fees, SNC lockers receive protocol fees, and exit penalties from users who exit their vests early.
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