The Sonic EVM Network is a Layer 1 blockchain compatible with EVM, designed to provide high performance, scalability, and unique incentives for both developers and users. Developed by Sonic Labs, the same team behind Fantom, Sonic represents an evolution of the ecosystem with significant improvements in speed, cost, and functionality.
Recently, Sonic has attracted a massive influx of users due to its ecosystem incentives and high anticipation for its upcoming airdrop. One of the main reasons for this hype is the fact that Sonic Labs raised over $91 million in investment rounds, as reported by Cryptorank.
In this guide, we’ll cover everything you need to know about participating in the Sonic airdrop and how to maximize your chances of receiving a significant allocation.
Adding Funds to the Sonic Network
The Sonic Network uses its native token $S for paying gas fees. This means you will need $S tokens to interact with the network.
Step 1: Acquire $S Tokens
You can get $S tokens in two ways:
- Centralized Exchange (CEX):
- Purchase $S directly from a centralized exchange and transfer it to your Sonic wallet.
- Using a Bridge:
💡 Pro Tip: Use Rabby Wallet for seamless connectivity on EVM networks, including Sonic.
Getting Started with MySonic Dashboard
To maximize your airdrop potential, familiarize yourself with MySonic, Sonic’s dashboard for tracking points, staking, and governance.
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Exploring MySonic Features
- Home: Overview of your $S staking status.
- Upgrade: Migrate $FTM tokens to $S at a 1:1 ratio.
- Points: View your current points and learn how to earn more (use code “LHWA0Y” for 10% points).
- Apps: Discover dApps available on the Sonic Network.
- Stake: Stake $S tokens to earn rewards.
- Bridge: Explore different bridge options for transferring tokens.
- Governance: Participate in network governance if you have staked $S.
These features provide everything you need to interact with the Sonic ecosystem and start farming the airdrop.
Farming the Sonic Airdrop
1. Liquid Stake + Borrow/Lend Strategy
The most effective strategy is to use Beets, a dApp on Sonic that allows you to mint stS – the liquid staking version of $S.
Why stS?
- It offers the following multipliers:
- Passive Points
- Activity Points
- 4x Points Multiplier
After minting stS, you can use it in Silo, a Borrow/Lend dApp. Here’s how:
- Deposit stS and borrow $S:
- This strategy is low-risk because it uses the same token for lending and borrowing, minimizing the chance of liquidation.
- Loop Strategy:
- Mint stS with the borrowed $S and repeat the process.
2. Distribute $S Across Applications
To maximize interactions, spread your $S tokens across different dApps within the Sonic ecosystem.
- I personally chose to provide liquidity on Shadow, using the S/stS pool. This strategy reduces volatility risks while maintaining a stable APR.
- You can also stake $S directly on MySonic or explore other protocols within Sonic, many of which have their own airdrop campaigns.
⚠️ Important: Always DYOR (Do Your Own Research) before committing funds to liquidity pools or lending platforms.
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3. Stay Active and Monitor Points
Regularly check MySonic for updates on your points and ranking. The more diverse your interactions, the higher your potential airdrop allocation.
Additionally, follow us on social media for the latest updates on Sonic and other airdrops!
Final Thoughts
The Sonic Airdrop presents a unique opportunity to participate in an emerging Layer 1 blockchain with a well-funded ecosystem. By adding funds, staking, lending, and actively participating, you can maximize your points and earn a significant allocation in the upcoming airdrop.
Disclaimer
This is not financial advice. If you choose to interact with the mentioned protocols, you do so at your own risk. Airdrop Guild is not responsible for any potential losses resulting from participation. Always conduct your own research before engaging with blockchain projects.
