Sonic On-Chain Activity Has Plummeted, But There Is Still One Public Chain Whose TVL Has Increased by More Than 130% in One Month

The market has been in a narrative vacuum recently, memes have died down, Solana on-chain activity has plummeted, and most altcoins have fallen by more than 80% in three months. However, there is still one public chain whose TVL has increased by more than 130% in one month

Recently, the market has been in a narrative vacuum, memes have died down, Solana on-chain activity has plummetered, and most altcoins have fallen by more than 80% in three months. However, there is still one public chain whose TVL has increased by more than 130% in one month, ranking first among all public chains.

Maybe you wouldn't believe it, but it's Sonic.

What are Sonic's recent activities? What are the key projects worth paying attention to? Let WOO X Research show you!

What is Sonic? What is the latest airdrop event?

Sonic, the predecessor of which is Fantom, is a Layer 1 public chain launched in 2019 that focuses on DeFi and dApp. It was very popular in 2021-2022, with a TVL of about 8 billion at its peak.

In 2022, AC announced its temporary withdrawal from the DeFi industry, and market confidence in Fantom declined. In July 2023, a vulnerability occurred in the cooperative cross-chain bridge Multichain, and the stablecoins (USDC-MULTI, fUSDT-MULTI, etc.) issued by the bridge contract on Fantom were significantly decoupled, affecting the stability and trust of the entire ecosystem. Against this background, Fantom proposed to upgrade to Sonic.

Sonic announced that it will issue a total of 190.5 million S tokens, and the reward mechanism for these tokens is divided into two parts: 25% of the rewards can be withdrawn immediately, while the remaining 75% will be gradually released in the form of tradable NFTs.

Users can obtain qualifications through two ways:

Sonic Points are user-oriented airdrop points, which are divided into passive points and activity points. Passive points can be obtained by holding whitelisted assets in Web3 wallets, and activity points can be obtained by deploying whitelisted assets in applications; WETH, SolvBTC and SolvBTC.BBN can only obtain activity points. The income of active points is twice that of passive points.

The minimum requirement for Sonic airdrop is 1 Sonic Point, which can be obtained by holding 0.1 ETH or 1000 SUSHI for 30 days.

Sonic Popular Projects

Sheep Coin (@SheepCoin69)

Sonic Wolf Sheep Game is a strategic game ecosystem that combines blockchain asset management, NFT mechanism and DeFi protocol. Players can build their own advantages and gain benefits by purchasing, minting, protecting and attacking assets.

1. Purchase Sheep Coin: Players can use $S to purchase Sheep Coin at a 1:1 ratio. During this process, 95% of Sonic Token will be provided to Sheep Coin as liquidity. After the launch, Sheep Coin can be traded freely.

2. Minting Wolf NFTs: Players can use Sheep Coins and $S to mint Wolf NFTs. The cost of each minting will increase with the number of times (only 1 Sheep is needed for the first time, 2 Sheeps are needed for the second time, and so on), and all Sheep Coins used for minting will be permanently destroyed. This means that each minting will reduce the total supply.

3. Wolf NFT Mechanism Wolf NFTs are offensive assets in the game, and their behavior patterns are as follows:

Wolf can eat in two ways:

4. Sheep Dog Protection Mechanism: Players can deposit their Sheep into Sheep Dog for protection. To withdraw, players must activate "Sleep Mode", wait for 2 days and pay a handling fee.

5. Sheepdog Reward Mechanism Sheeps stored in the Sheepdog can get S rewards through the annualized rate of return (APR). In addition, the handling fee paid by the player when withdrawing assets will also be part of the reward.

Here is an interpretation of the game

Core concept: Through "wolves eating sheep", sheep will continue to deflate, thereby pushing up the price of the currency

About Wolves: High costs, high risks, but also potential high returns

Shepherd: Daily rent for maintenance in exchange for safety and extra income

Game question 1: Is it worth investing in casting wolves?

Game question 2: Should I rent a sheepdog?

Possible situations and corresponding strategies

Petroleum Finance(@Petroleum_Defi)

Petroleum City is a blockchain game with the theme of oil mining. Players refine crude oil (cOIL) by building, upgrading and managing pumps, and convert it into tradable $OIL to earn profits. The following are the core mechanics of the game:

1. Buy a plot

2. Buy some Pumps

3. Add decorations

4. Refine your $cOIL

Strategies and suggestions

Petroleum City's core cycle is "produce cOIL → repair pumps → refine