Sonic Ecosystem

Sonic ETH (scETH) is a wrapped pegged 1:1 ETH created by Rings Protocol running on the Socin blockchain. Rings Protocol incorporates a governance mechanism inspired by Solidly, providing scUSD and scETH holders with three distinct options to participate and influence the ecosystem:<ul><li>Liquid Holding: Users may choose to hold their scUSD or scETH tokens in a liquid state, allowing them the flexibility to utilize these assets freely within Sonic as they see fit.</li><li>Staking for Yield: By staking their scUSD, users receive stkscUSD, enabling them to earn yields generated by various DeFi protocols on Sonic. The stkscUSD functions akin to a vault managed by Veda, deploying the scUSD into diverse DeFi strategies to offer passive income streams.</li><li>Locking for Governance: Users can opt to lock their stkscUSD to obtain vestkscUSD, a veNFT that grants them governance rights within the Rings Protocol. While this choice means forfeiting direct staking yields, it opens the door to earning rewards through voting incentives (also called 'bribes') within the gauge voting system. </li></ul>

Sonic ETH

Sonic ETH (scETH) is a wrapped pegged 1:1 ETH created by Rings Protocol running on the Socin blockchain.  

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%name%: Latest News, Social Media Updates and Insights

Sonic, rebranded from Fantom, is gaining traction as an alternative for low-cost meme activity. In addition to appreciating assets, the new chain offers an airdrop farming period until June, boosting DEX and app usage.

Sonic ETHscETH

Latest Sonic ETH News and Social Media Feed

Trading activity shifts to the Sonic chain ecosystem