🪙SNC token

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 choose to lock SNC for 7 days, 1 month or 3 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 as well as exit penalties from users who exit their vests early.

Tokenomics

SNC has a total supply of 1,000,000,000.

• 50% liquidity Mining (for 10 years for liquidity mining to incentivize future liquidity providers and incentivize users)

• 20% sonic lab (5 years for sonic lab to support market development, ifo, ido, ino, nft)

• 10% marketing (5 years for sonicfinance.io ecosystem platform, community incentive, marketing and campaign)

• 15% burning (to be burned gradually over 10 years to stabilize snc token inflation)

• 5% of the team (for 10 years for the advisory group)