L1 ecosystem, I mainly focus on '3S':
Solana
Sui
Sonic
In short, the comprehensive DeFi platform on Sonic, @AtlantisOnSonic, will launch its public offering on May 31, with an initial launch market cap of about $930,000.

The following is a specific study 👇


1. Atlantis: A Comprehensive DeFi Platform in the Sonic Ecosystem
Atlantis is a DeFi platform built on Sonic, covering the core aspects of on-chain trading, including:
Launchpad: Providing financing for new projects
DEX: A decentralized exchange based on Algebra Integral V4
Mining and Staking: Achieving yield distribution through Treasures and Trident Vaults plugins

The flywheel effect of Atlantis can be summarized as:
New projects raise funds through the Atlantis Launchpad;
After launching, tokens are traded directly on Atlantis's V4 DEX;
Fees generated from trading flow back to the community through Treasures and Trident Vaults, incentivizing long-term holders;
Community growth attracts more projects, creating positive feedback.

Data and Partners
Atlantis has established partnerships with multiple protocols, including @rhinofi, @Rings_Protocol, @odosprotocol, @beefyfinance, and @OriginProtocol, demonstrating a certain level of accumulation in B-side business expansion.

Comments:
Although Atlantis positions itself as a 'one-stop DeFi platform', its core remains focused on the Launchpad business. The empowerment of the $AQUA token (such as revenue sharing and governance rights) is highly tied to the Launchpad business. Therefore, Atlantis's success depends on its ability to continuously attract quality projects, which poses high demands on its B-side market expansion capabilities. Existing partners provide initial endorsements for the platform, but long-term growth requires the addition of more top-tier projects.

2. Public Offering Details
Basic Information
Public Offering Platform: Atlantis Launchpad
Time: May 31, 2025 - June 4, 2025
Link: https://reurl.cc/8DZ9l4
Accepted Currency: $S
Initial AQUA Price: 1.067 $S (approximately 0.5 USD)
Initial Circulating Market Cap: 1,973,210 $S (approximately 930050 USD)
TGE: June 5, 2025



Token Economics
Atlantis adopts a dual-token model: $AQUA (liquid token) and $xAQUA (staking version).
$xAQUA holders can unlock the following rights:
Protocol revenue sharing: 25% of platform revenue;
Token mining: Participate in Trident Vaults mining for Launchpad projects to earn partner tokens;
Governance and revenue sharing: Participate in Launchpad revenue sharing and protocol governance.

Comments:
An initial launch market cap of $930,000 is relatively low among Launchpad projects, with a reasonably estimated valuation. However, Atlantis adopts a 'market discovery model' instead of a fixed price, meaning that the more investment there is, the higher the token price, which may lead to price volatility and early price discovery. It is recommended that investors closely monitor capital inflow and price trends during the public offering period to assess market confidence in the project.

3. Statement
This article is not investment advice.
If there is any incorrect information, please contact the author for corrections.