What is Sonne Finance (SONNE)? We will learn about this cryptocurrency together 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 serving 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 gain traction and receive community attention, so Sonne Finance will have great potential in the future.
Currently, Sonne Finance has 2 main goals:
- Attract TVL to the Optimism platform.
- Become a highly liquid market with competitive incentives compared to other currency markets.
Sonne Finance will have no governance at launch, instead it will generate revenue earned from collecting platform fees and VELO rewards from Velodrome Finance. (See the documentation for more information.)
Mechanism of Action
Sonne-Velodrome bribe-reward mechanism
Sonne Finance is generating revenue through reserve elements for different pools as users borrow from liquid markets. 80% of this revenue belongs to sSONNE stakers.
Additionally, Sonne Finance introduces a unique bribe-reward mechanism that leverages Velodrome Finance to generate SONNE/USDC liquidity. In short, it can be explained in the following steps:
- Sonne will bribes VELO stakers.
- $SONNE goes to owner VELO.
- VELO holders vote for SONNE/USDC.
- Increased SONNE/USDC LP farm APR on Velodrome.
- Sonne stake LP from LGE on Velodrome to earn VELO. Sonne Finance distributes 80% of VELO rewards to sSONNE stakers.
sSONNE stakers will all receive revenue from Sonne Finance and VELO tokens.
Core Team
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Tokenomics
Learn more about Sonne Finance’s Tokenomics and see project details below:
Overview information about SONNE token
- Token Name: SONNE.
- Ticker Symbol: SONNE
- Max Supply: 100,000,000
- TGE: 2,500,000
- Contract Address: 0x1db2466d9f5e10d7090e7152b68d62703a2245f0
Token Allocation
Sonne Finance (SONNE)’s allocation 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% is allocated to LGE rewards
- 0.30% allocated to LGE first day bonus rewards
What is the Sonne Finance (SONNE) Distribution Schedule?
Sonne Finance (SONNE) launched the token on September 28, 2022. Maximum supply is limited to 100,000,000. Sonne Finance (SONNE) supply is expected to be fully allocated by October 2025.
Partner
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Exchanges
Sonne Finance is currently traded on: Velodrome Finance, OpenOcean.
Information Channels of Sonne Finance
- Website: https://ens.domains/
- Twitter: https://twitter.com/SonneFinance
- Telegram: https://t.me/SonneFin
- Discord:
- Medium: https://medium.com/the-ethereum-name-service
- GitHub: https://github.com/ensdomains
Total keh
Currently, the Optimism platform is receiving a lot of trust and attention from the cryptocurrency community around the world. And Sonne Finance was born with the goal of becoming the leading lending platform on Optimism by providing highly competitive incentives and the highest liquidity to attract users.
Similar to (and based on) existing lending platforms like Compound Finance and AAVE, users will be able to lend out any supported asset on Sonne Finance’s platform and use their capital to borrow supported assets.
With its young age and newly launched, Sonne Finance will have a long way to go to achieve its goals!
