SGP 5: Accept Ownership Transfer of Sonic Contracts to Spectra DAO

Author: Perspective SAS (Spectra’s Development Company)

Context

Developed by Andre Cronje and the team behind Fantom (peak TVL of ~$15B in 2021), Sonic is a cutting-edge Layer 1 EVM blockchain, delivering 10,000 TPS and enabling fee-sharing opportunities for apps built on top of it.Sonic is freshly deployed with over $10M TVL and growing fast, with deployment confirmed by other projects such as Aave.

Motivation

Sonic launched this December, providing Spectra with a strong opportunity to extend its tools and services to Sonic’s growing ecosystem. With Sonic’s EVM compatibility, integrating Spectra will be smooth and require minimal changes to its current product lineup. This deployment could bring Sonic’s active users and projects into the Spectra ecosystem, boosting protocol revenues and strengthening Spectra’s position on this promising network.

Specification

Perspective SAS has deployed the core Spectra contracts on the Sonic network, replicating the same configuration used on Ethereum Mainnet. These contracts will enable Spectra users to tokenize, trade, and fix interest rates for yield-bearing tokens on Sonic’s ecosystem.

Deployment Addresses: link

Perspective SAS proposes transferring ownership of the Spectra contracts on the Sonic network to Spectra DAO. Following the transfer, the DAO will have full authority to:

• Manage all protocol roles (e.g., owner, pause).
• Upgrade the contracts as needed.
• Set and collect protocol fees.
• Enable new protocol features and adjust configurations as required.

Next Steps

If Spectra DAO members accept this proposal, Perspective SAS will transfer the ownership to Spectra DAO on Sonic (0x589269998df4D7D16351AA2Ff996486aEc1DB6C2).