The Fantom chain has launched an upgrade where it will become Sonic chain. Basically $FTM will be swapped 1:1 with $S (the price will be the same as $FTM). To attract liquidity, a points campaign has been launched where 200 million $S will be distributed (the season ends in June 2025). Simply by using LP (liquidity pool) and token holdings, you will get points that will then be converted into $S (in a certain ratio). 200 million $S in airdrop is not a small amount, also because there are not many people. A very large airdrop could come out. These are the tokens with the various boosts:
MY STRATEGY
I am using the new dex SwapX. It is a V4 (powered by Algebra) that incentivizes its pools with voting power (blocking their SWPx token, obtaining veSWPx).
What can you do?
1) Lock $SWPx, incentivize your favorite pools with voting power and deposit liquidity (LP)
2) If you don't want to lock $SWPx, you can simply use their pools (LP) with their very high APY
Personally I am using the SWPx-Ws (Wrapped Sonic) pool with an apy of over 1000%. From these pools, you get swap fee+SPWx farming. In addition to this income, you are also getting Sonic airdrop points. Farming is really high on all pools and $SWPx could also grow in price.
When you claim your $SWPx, you can:
1) Increase your LP
2) Sell $SWPx for $S
3) Sell $SWPx for USDC (taking some profit)
$SWPx if the dex (the biggest on Fantom/Sonic) grows in TVL it could do well (even if the emissions are initially very high). $SWPx is not only a farming token but is also used to incentivize your favorite pools (if you have voting power you can essentially increase APR of the pool you are using). It is not necessary though. You can simply use your liquidity to farm from their liquidity pools (LP).
HOW TO TRANSFER LIQUIDITY (SONIC CHAIN)
In this paragraph I tell you how to transfer your liquidity on Sonic Chain:
1) If you have $FTM on exchange, simply withdraw it on your Metamask (Fantom Chain) and then you can upgrade from $FTM to $S via the official portal (you pay 5 cents fee): Sonic Labs Upgrade (Bridge: Fantom --> Sonic)
You will have your $S on Sonic Chain, then go to SwapX and choose your favorite pool ("earn" section). In "my positions" you can claim your rewards (sometimes it shows 0, just reload the page). Use their site to swap the token you want to use in the pool. For example, I sold my 700 USDC for $wS and then deposited to "earn" in the wS-SWPx pool (they automatically swap a certain percentage into $wS and $SWPx, when you withdraw they return to you in $wS). $wS is simply Wrapped Sonic (aka Wrapped Fantom).
2) If instead you do not have liquidity on Fantom Chain and you do not want to use exchange, let's assume you have liquidity on Arbitrum, BNB Chain or Optimism (or transfer it from exchange)... it is sufficient to swap 1 USDC in exchange for 1$ of $S on DeBridge and then you can transfer your liquidity (USDC) that you intend to use for LP ( SwapX or wherever you want).
3) Alternatively (this step is ok to pay less fee for large amounts!) transfer liquidity (e.g. ETH) from exchange to Arbitrum, Optimism, Base, etc (if you already have ETH on one of these it's ok and you can transfer USDC directly from exchange), then do: Arbitrum (example) USDC --> Fantom USDC (remember that you will always need 1 $FTM for gas fees) on Jumper.exchange , then use Kyberswap to swap your USDC for $FTM. Finally go to the official Sonic portal ( Sonic Labs Upgrade) ) swap your $FTM for $S, go to SwapX and deposit into your favorite pool.
You are farming 50% to 1000% on SwapX and you are also earning points for Sonic airdrop (June 2025)! This is what I am doing for Sonic Airdrop, of course you should do your research (DYOR), however in 2 days I farmed about 80 SWPx ($40) with a small LP ($700) + 4x boost for wS (Sonic Airdrop).
If you want, follow them on Twitter:
SwapX (X)
Sonic (X)
CONCLUSIONS
I remind you that my on-chain operation (on one of my addresses) is public (here: DeBank Profile: 0xDavide) so you don't have to trust what I write! You can verify yourself, the pool I use and other chains that I am farming! Here you can check the airdrops I received in "career" ( Road To 1 Million: I Can Do It? ) and those of 2024 ( Top/Flop 15 of 2024 and What I'm Farming for 2025 ).
Happy yielding, farmers!
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