What is Sonne Finance (SONNE)? We will learn together about this cryptocurrency in today’s article!
What is Sonne Finance?
Sonne Finance is a decentralized lending protocol for individuals and organizations to help them access financial services. It is an open source, permissionless protocol for users based on the Optimism platform. Users can deposit their assets, use them as collateral, and take out loans.
The Difference Of Sonne Finance
DeFi activities on the Optimism platform are starting to attract and receive the attention of the community, so Sonne Finance will have great potential in the future.
Currently project has 2 main goals:
- Attract TVL for the Optimism platform.
- Become a highly liquid market with competitive offers compared to other currency markets.
project will have no admin rights at launch, instead it will generate revenue earned from collecting platform fees and VELO rewards from Velodrome Finance. (See documentation for more information.)
Mechanism of Action
Sonne-Velodrome bribe-reward mechanismproject is generating revenue through reserve factors for different groups as users borrow from liquid markets. 80% of this revenue belongs to sSONNE stakers.Additionally, project introduces a unique bribe-reward mechanism that leverages Velodrome Finance to generate SONN/USDC liquidity. In summary, it can be explained in the following steps:
- Sonne will bribes VELO stakers.
$SONNE goes to VELO owner. - VELO holders vote for SONN/USDC.
- Increase SONN/USDC LP farm APR on Velodrome.
- Sonne stakes LP from LGE on Velodrome to earn VELO. Sonne Finance distributes 80% of VELO rewards to sSONNE stakers.
All sSONNE stakers will receive revenue from Sonne Finance and VELO tokens.
Tokenomic
Learn more about Sonne Finance’s Tokenomics and see project details below:
SONN Token Overview
- Token Name: SONNE.
- Ticker Symbol: SONNE
- Max Supply: 100,000,000
- TGE: 2,500,000
- Contract Address: 0x1db2466d9f5e10d7090e7152b68d62703a2245f0
Token Allocation
The allocation of Sonne Finance (SONNE) is as follows:
- 12.00% allocated to Core Team
- 19.00% allocated to Protocol growth
- 60.00% allocated to Rewards and Bribes (Community)
- 3.00% allocated to Airdrops
- 2.50% allocated to Liquidity Generation Event(LGE)
- 3.20% allocated for LGE . rewards
- 0.30% allocated to LGE first day bonus
What is the Sonne Finance (SONNE) Allocation Schedule?
Sonne Finance (SONNE) launches the token on September 28, 2022. The maximum supply is capped at 100,000,000. The supply of Sonne Finance (SONNE) is expected to be fully allocated by October 2025.
Exchanges
Sonne Finance is currently traded on: Velodrome Finance, OpenOcean.
Sonne Finance Channels
- Trang web: https://ens.domains/
- Twitter: https://twitter.com/SonneFinance
- Telegram: https://t.me/SonneFin
- Discord: https://discord.com/invite/SonneFinance
- Medium: https://medium.com/the-ethereum-name-service
- GitHub: https://github.com/ensdomains
Final thoughts
Currently, the Optimism platform is receiving a lot of trust and attention from the crypto community around the world. And Sonne Finance was born with the goal of becoming the leading lending platform on Optimism by providing highly competitive offers and the highest liquidity to attract users.
Similar to (and based on) existing lending platforms such as Compound Finance and AAVE, users will be able to lend any supported asset on Sonne Finance’s platform and use their capital to borrow supported assets.
Through the above article, CryptoChill has helped you know about the Sonne Finance token and the highlights of the project.
With a young age, and newly launched, project will have a long way to go to achieve its goals!
Disclaimer: This article is for informational purposes only and should not be considered investment advice. The crypto market is always full of risks, so learn carefully before deciding to buy or sell.
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