Despite the decline in market value, Sonic's TVL continues to grow
$S has reached a position where I will significantly increase my holdings
Why do people like SonicLabs?
It all has to do with liquidity mining!
Liquidity mining on Sonic leverages its high throughput Layer-1 blockchain to maximize returns.
Mainly includes:
- Converting USDC into $S tokens and then staking them to earn stS or scUSD.
- Using derivatives (stS, scUSD) to form liquidity pairs on DEXs with high APRs (e.g., stS/S, scUSD/USDC.e).
- Farming $SNAKE, a high APR offering in the forest mining pool associated with $S.
- Leveraged mining through Eggs Finance, where $EGGS minted from $S can be used as collateral to borrow more $S, increasing potential returns.
Sonic's DeFi ecosystem incentivizes liquidity provision and attracts developers with innovative rewards and infrastructure.