According to Foresight News, Sonic Labs' strategic director SonicAssistant said, "24 hours ago, market makers were informed that Wintermute would not renew the contract, ending a five-year exclusive partnership between the two parties. The Sonic team has collaborated with other MM companies willing to provide MM++, who are involved in our DeFi ecosystem, participate in promising applications, engage in global community activities, and maintain open and proactive communication with our team. This is essential for the thriving development of our ecosystem projects. Simply supporting Cex is far from enough."
SonicAssistant stated, "Wintermute sold approximately $857,000 worth of S within 24 hours, which is likely a response to our decision not to renew the partnership. Our previous deal provided MM with a $16 million loan, but they have likely exceeded this inventory and are divesting to return our funds."
