On December 31, 2024, WOOFi, a leading decentralized exchange protocol in the blockchain ecosystem, proudly announced the launch of its innovative Synthetic Proactive Market Maker (sPMM) on Sonic, the newly rebranded Fantom network. This strategic development enhances Sonic’s liquidity offerings, positioning it as a top-tier layer-1 blockchain with institutional-grade capabilities.
Expanding Liquidity on Sonic
WOOFi Swap will initially support three major assets on Sonic: S (previously FTM), USDC, and ETH, facilitating seamless swaps and laying the groundwork for a strong liquidity ecosystem. By replicating its success on Fantom, where it became one of the top recipients of the Gas Monetization Program, WOOFi aims to become the primary liquidity hub on Sonic. With deep liquidity, low slippage, and an enhanced trading experience, WOOFi continues to provide world-class solutions for global users.
Incentives for Sonic Users
Sonic users who engage with WOOFi Swap will soon benefit from exciting rewards, including Sonic Points for asset swaps. These points will enable participants to claim a share of a massive 200 million S token airdrop, creating a rewarding experience and fostering greater user engagement within the Sonic ecosystem.
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Sonic: A Blockchain for Developers and Users
Sonic is a high-throughput, EVM-compatible layer-1 blockchain platform built for exceptional scalability and user experience. With the ability to handle 10,000 transactions per second and a decentralized gateway to Ethereum, Sonic provides developers with the tools to create the next wave of decentralized applications. Differentiating itself from other platforms, Sonic rewards builders with up to 90% of the network fees they generate, promoting a sustainable and incentivized ecosystem for both developers and users.
A Unified Vision for Decentralized Innovation
The integration of WOOFi’s sPMM with Sonic reflects a shared commitment to advancing decentralized finance. By merging WOOFi’s cutting-edge liquidity solutions with Sonic’s high-performance blockchain infrastructure, this collaboration is set to create new opportunities for traders, developers, and the broader crypto community.