[HIP-30] - Chain Addition: Sonic

Proposal ID: 4.1

I. Introduction

This proposal advocates for the addition of Sonic (formerly Fantom) to Ulysses, bringing this innovative new chain into our liquidity ecosystem.

Launching on Sonic within the first weeks of its mainnet will position Ulysses as a key player in establishing early liquidity for the chain, supporting its growth and adoption.

Sonic is one of the highest TPS blockchains packed with unique features and a thriving ecosystem making it a perfect match for our platform.

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II. Background and Rationale

Sonic is an emerging ecosystem, with a growing roster of projects committed to launching on there. This should help cultivate an ecosystem of users, developers, and liquidity providers in this new network.

Adding Sonic to our supported chains brings us:

• New Liquidity Source: The influx of projects and anticipated growth make Sonic an attractive source of liquidity.

• Expanding Community Reach: By integrating Sonic, we gain access to its emerging community and user base, further broadening the reach and adoption of our platform.

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III. Proposal Details

UI Supported Full Deployment:

This proposal includes full integration of Sonic into our platform, providing end-users with:

• Liquidity provision, management and staking capabilities.

• Seamless asset transfers across networks.

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IV. Implementation Plan

1. Initial Deployment:

   • Add our new Sonic contracts to the system via Governance.

   • Provide full UI support on Sonic.

2. Community Engagement:

   • Engaging with Sonic's developer incentives.

   • Collaboration Sonic’s community for co-marketing efforts and partnership opportunities.

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V. Governance Considerations

To maintain transparency and inclusivity, the community will decide which gauges are added to Sonic through separate governance proposals, ensuring a decentralized and democratic process. This can only be processed upon Sonic chain activation in Ulysses via this governance proposal's onchain execution.

VI. Conclusion

Integrating Sonic into our system is a strategic step toward building a robust, multi-chain ecosystem. Its strengths align with our mission to offer best-in-class cross-chain solutions. We urge the community to approve this proposal and embrace the opportunities this addition presents.