[SIP-36] Symbiosis X Sonic: Powering Cross-Chain DeFi

Voting ended about 1 year agoSucceeded

Context

Sonic is an EVM-compatible Layer 1 blockchain utilizing a DAG-based ABFT consensus mechanism with proof-of-stake (PoS). Designed to enhance performance and scalability, Sonic aims to provide a robust infrastructure for DeFi applications.

Key features include:

10,000 Transactions per Second (claimed throughput)
Sub-Second Finality for near-instant confirmations
EVM Compatibility with support for Solidity and Vyper
Native Token Bridge (Sonic Gateway): Facilitates transfers of USDC, EURC, WETH, and FTM between Ethereum and Sonic.

Sonic is developed by the team behind Fantom and is positioned as a significant upgrade to Fantom’s capabilities. To foster adoption, Sonic offers various incentive programs for developers and users.

The Sonic Mainnet launched at the end of 2024.

Proposal

Enable support for Sonic within the Symbiosis protocol. The integration includes the following steps:

Adding support for Sonic in the Symbiosis protocol, utilizing WETH (address) for Sonic in the Symbiosis AMM DEX on the host chain.
Deploying and tuning Symbiosis contracts on Sonic to ensure smooth operation.
Leveraging existing DEXs on Sonic to enable on-chain routing.
Activating the Symbiosis relayers network to work with the new blockchain.

Key points

Sonic’s recent mainnet launch and incentive programs have created strong demand for cross-chain token swaps. Integration with Symbiosis ensures seamless connectivity and liquidity for Sonic’s growing ecosystem.
Sonic’s high throughput, sub-second finality, and cost-effective transactions contribute to a smooth and efficient user experience.
Sonic’s EVM compatibility ensures straightforward integration into Symbiosis, providing immediate cross-chain functionality and expanding user options.

Off-Chain Vote

Yes, let's do

32.78K veSIS100%

Against

1.9 veSIS0%

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Timeline

Jan 22, 2025Proposal created

Jan 22, 2025Proposal vote started

Jan 23, 2025Proposal vote ended

Jan 23, 2025Proposal updated

Context

Key features include:

10,000 Transactions per Second (claimed throughput)

Sub-Second Finality for near-instant confirmations

EVM Compatibility with support for Solidity and Vyper

Native Token Bridge (Sonic Gateway): Facilitates transfers of USDC, EURC, WETH, and FTM between Ethereum and Sonic.

The Sonic Mainnet launched at the end of 2024.

Proposal

Enable support for Sonic within the Symbiosis protocol. The integration includes the following steps:

Adding support for Sonic in the Symbiosis protocol, utilizing WETH (address) for Sonic in the Symbiosis AMM DEX on the host chain.

Deploying and tuning Symbiosis contracts on Sonic to ensure smooth operation.

Leveraging existing DEXs on Sonic to enable on-chain routing.

Activating the Symbiosis relayers network to work with the new blockchain.

Key points

Sonic’s recent mainnet launch and incentive programs have created strong demand for cross-chain token swaps. Integration with Symbiosis ensures seamless connectivity and liquidity for Sonic’s growing ecosystem.

Sonic’s high throughput, sub-second finality, and cost-effective transactions contribute to a smooth and efficient user experience.

Sonic’s EVM compatibility ensures straightforward integration into Symbiosis, providing immediate cross-chain functionality and expanding user options.