Sonic price

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. @SonicLabs CEO @michaelfkong recently had an interview with Financial News! Since your time is precious, I’ve summarized the interview content briefly🧡 1. Strategic Partnership with Circle - Sonic collaborates with global stablecoin issuer Circle to convert $500 million worth of bridge assets into native USDC. - This significantly enhances the efficiency and stability of asset movement across blockchains, and has dramatically improved user experience. 2. Rapid Growth of the Sonic Ecosystem - After the mainnet launch in December 2024, TVL surpassed $1 billion and daily active users exceeded 100,000 within just six months. - The proportion of Korean users increased from 0.1% to 18%, quickly establishing a foothold in the Asian market. 3. Institutional Suggestions for the Korean Market - Regarding discussions on regulations for stablecoins and exchange listings in Korea, it was suggested to refer to the Bahamas' Digital Assets Law (DARE). - He mentioned, "Along with allowing a free market, strong safeguards against fraud must be implemented." - DARE strictly regulates transaction integrity, security, and investor protection requirements. 4. Sonic's Technological Competitiveness - The core technologies are its self-developed virtual machine and high-performance testing framework. - It aims to differentiate itself from existing high-performance chains like Solana and has proven its performance on the actual mainnet. 5. Fusion of AI Tool 'Hey Anon' and DeFi - The blockchain-based AI tool 'Hey Anon' enables even non-technical users to automatically execute complex DeFi transactions. - In the future, they plan to implement an AI authority rating system based on user risk profiles and enhance the transparency of smart contract code. 6. Resolution of Past Phantom Controversy and Legal Risks - They focus on technological improvements and legal responses regarding the white paper plagiarism controversy during the Phantom Foundation era. - In October 2023, they received a final ruling in their favor from the Korean Supreme Court, resolving the risks and completing the rebranding to Sonic. - They are now concentrating on technological innovation and ecosystem expansion. 7. Developer Incentives and Ecosystem Expansion Strategy - They operate an incentive model that shares 90% of transaction fees with developers. - They are actively expanding the developer ecosystem through a $250,000 global hackathon and the establishment of a developer-centric fund. - They are also proactively addressing market concerns regarding algorithmic stablecoins by transitioning to a UAE dirham-based stablecoin strategy.

🗞️ Kicking off the week with the latest from @SonicLabs Our weekly report is live with key updates. Spoiler: network activity is heating up 👀 What other networks would you like us to cover? Let us know👇