We previously reported that Ethereum Layer 2 Soneium, a subsidiary of SONY Group, launched a developer test network and held an incubation program for Soneium Spark. Nowadays, the points activity for participating in airdrops has also been exposed, and it is the simplest game to save money. If you have expectations for SONY's Layer 2, you may be able to participate after evaluation.
(Soneium developer testnet is online! Join hands with one vote of VC and infrastructure projects to build the Sony universe)
Astar EVM as Soneium warms up the network
In previous reports, we mentioned that Sota Watanabe, director of Sony Block Solutions Labs behind Soneium, is also the founder of Astar. Astar is also seen as a bridge before Soneium goes online. Sota Watanabe said: "In order to truly popularize Web3 into society, we decided to take the first step and transition Astar Layer 2 and the community to Soneium."
(Sony Group launches L2, aiming to create the most widely adopted blockchain Soneium)
Astar Network also launched the Astar Surge event in December. If you lock $ASTR or $vASTR tokens in the designated protocol on ASTAR EVM, you will be rewarded with points, and the points will also be converted into token airdrops when the token is TGE. . The five protocols this time are all winners of the Soneium Spark event, namely Sake Finance, Yay!, Untitled Bank, SoneX and Kyo Finance. These protocols are first launched on ASTAR and then bridged to Soneium after the mainnet is launched.
Lending, stablecoins, and leverage strategies all in one, DeFi as smooth as sake
Sake Finance is a DeFi protocol that integrates lending, over-collateralized stablecoins, and leveraged liquidity strategies (LLS). The official focus is on a DeFi experience as smooth as sake.
Lending: Lending uses the Aave V3 model, and the more special feature may be the E-mode function. E-mode is a mode that can improve the efficiency of user funds. For example, DAI, USDT, USDC, USDE, and USD0 are all tokens linked to the price of the US dollar. At this time, they will be classified together. When I pledge the same type of tokens and want to lend the same type of tokens, I can get a higher mortgage rate.
For example, staking DAI can lend out more USDC. By analogy, the author may have a similar logic for liquid pledged tokens. For example, pledge solvBTC and lend LBTC. However, when entering E-mode, you can only borrow assets of the same type.
Over-collateralized stable currency: SONE (pronounced S1) is a decentralized over-collateralized stable currency. It also uses the assets supported in the Sake Finance lending page as reserves. SONE stable currency can be minted according to a specific pledge rate. Although the document does not mention high-annual profit-making strategies such as Usual and Ethena, as the ancestral protocol in Soneium and with official support, it may be expected to be widely adopted in the ecosystem.
Leveraged Liquidity Strategy (LLS): The concept is somewhat similar to the operation of NX Finance’s leveraged JLP tokens. In terms of splitting, users deposit SolvBTC in Sake Finance, and the protocol then converts it into SolvBTC.BBN. Then create a mortgage position of SolvBTC.BBN in Sake Finance and lend SolvBTC. Leverage holding SolvBTC is achieved through cyclic operations, and the maximum leverage can be opened to 9 times. The operation is completely automated, and users only need to select the leverage ratio and charge pledge interest.
(The listing plummeted by 80%! The new face of Solana, NX Finance, issued currency reselling, and the conversation turned to the review of the IDO mechanism)
Soneium AMM DEX duo
KYO Finance maintains the AMM DEX function of traditional trading tokens and providing liquidity pools. However, the official website stated that they have improved the system of staking in exchange for governance tokens such as Aerodrome, simplifying all procedures as much as possible.
SoneX is also an AMM DEX, but the document mentions cross-chain functionality and is expected to become a portal to Soneium. At the same time, the lending function will also be added in the future. The roadmap states that the liquidity mining plan will be launched in the fourth quarter of 2024, the staking function will be expanded, and it will be extended to more blockchains. In the first quarter of 2025, functions such as margin trading and limit orders will be introduced, as well as cross-chain transactions on major blockchain networks. Governance token launch in Q2 2025.
Morpho on Soneium, stake to earn two airdrops
Untitled Bank, similar to Morpho, is a modular lending protocol, which means that anyone can create a lending market on it. Each marketplace matches lenders, borrowers and bank operators on a permissionless and over-collateralized basis. Fully customized lending markets can be created through components such as interest rate models (IRM), oracles, and asset selection.
(New generation DeFi foundation (Hyperstructure) model: lending protocol Morpho)
Untitled Bank is divided into two participation models: core bank and customized bank. Core bank is closer to traditional lending platforms such as Aave. It only needs to deposit assets and it can automatically match the lending market through algorithms. Generally speaking, the core bank model is The proportion of each customized bank will be allocated through DAO governance voting. The core bank can be regarded as an aggregated liquidity pool, while the customized bank is a liquidity pool that users choose according to their own needs.
Yay! Global is a very popular social platform in Japanese communities, and it has a good reputation in Web2. The staking quota for cooperation with StakeStone was also filled in a short period of time. You can choose which protocol to stake on the Astar Surge event page, and the tokens will be unlocked on February 1, 2025. In addition to Soneium points, you can also earn project airdrops at the same time, and there is only about a month until the tokens are unlocked.
This article What’s wrong with SONY’s Layer 2 Soneium? Ecosystem project introduction, pledging to earn two airdrops strategy disclosed first appeared on Chain News ABMedia.
