KINGSTOWN, Saint Vincent and the Grenadines, Dec. 31, 2024 (GLOBE NEWSWIRE) — WOOFi, a leading decentralized exchange protocol in the blockchain ecosystem, is thrilled to announce the launch of its cutting-edge Synthetic Proactive Market Maker (sPMM) on Sonic, the rebranded Fantom network. This strategic move enhances Sonic’s institutional-grade liquidity offerings, bolstering its position as a top-tier layer-1 blockchain.
Diversifying Liquidity Offerings on Sonic
WOOFi Swap will initially support three key assets on Sonic: S (formerly FTM), USDC, and ETH, enabling seamless swaps and laying the foundation for a robust liquidity ecosystem. By replicating its success on Fantom, where it emerged as one of the top recipients of the Gas Monetization Program, WOOFi aims to establish itself as the go-to liquidity hub on Sonic. With deep liquidity, low slippage, and a seamless trading experience, WOOFi continues to deliver world-class solutions for users worldwide.
Empowering Sonic Users with Incentives
Soon, Sonic users who engage with WOOFi Swap will unlock exciting benefits, including earning Sonic Points for asset swaps. These points will qualify participants for a share of a massive 200 million S token airdrop, creating a rewarding experience while driving user engagement within the Sonic ecosystem.
Sonic: A Blockchain Built for Developers and Users
Sonic is a high-throughput, EVM-compatible layer-1 blockchain platform designed to deliver unmatched scalability and an exceptional user experience. With capabilities such as 10,000 transactions per second, and a native decentralized gateway to Ethereum, Sonic empowers developers to create the next generation of decentralized applications. Setting itself apart, Sonic rewards builders with up to 90% of the network fees they generate, fostering a sustainable and incentivized ecosystem for developers and users alike.
A Shared Vision for Decentralized Innovation
The integration of WOOFi’s sPMM with Sonic reflects a shared commitment to pushing the boundaries of decentralized finance. By combining WOOFi’s advanced liquidity solutions with Sonic’s high-performance blockchain infrastructure, this partnership promises to unlock new opportunities for traders, developers, and the broader crypto community.
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About WOOFi
WOOFi is a leading DEX, delivering over $70 billion in cumulative trading volume and supporting 11 blockchains. Offering a suite of products including earn vaults, simple swaps, cross-chain swaps, and perpetual futures, WOOFi is committed to providing seamless and rewarding DeFi experiences for its users. The platform’s native token, WOO, allows users to stake and share in 80% of all protocol fees, reinforcing a vibrant, community-driven ecosystem.
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