The Sonic network has rapidly emerged as a new layer-1 blockchain, engineered to deliver speed, scalability, and interoperability. Rebranded from the old chain Fantom (FTM), Sonic has evolved into a high-performance ecosystem, with nice protocols wehre the users can use decentralized finance (DeFi) applications to get some profits.
As you can see in DefiLlama the TVL is growing fast, thanks to one of the chain's innovative features: developers are compensated for building tools.
Normally this tools or protocols will generate fees, those fees will go to the developers of the protocols. And right now, most of the protocols are trying to attract liquidity and users which in turn drives higher network usage.
More usage means more fees, and those fees are then funneled back to the developers. Essentially, it's a self-reinforcing cycle where increased usage generates more fees, which then pays the developers, encouraging them to create even more tools and attract even more users.
Yield Farming in DeFi Protocols
I'm mainly focused on using Rings, here you can swap different assets to his 'sc' version. For example swap USDC and get scUSD or wETH into scETH.
With this 'sc' version you can lend it for example in Machfi or Silo and get some juicy APRs.
There are also pools with little impermanent lose in SwapX like scETH/wETH or USDC.e/scUSD
