Dunking Squirrel

Sonic Labs is entering an exciting new chapter under @MitchellDemeter’s leadership. As part of the company’s restructuring I’ll be stepping back from my current role to focus on other internal priorities. I am grateful for the community and I’m confident in Sonic’s bright future ahead.

76,000,000 $S staked by @binance. Earn up to 3.50% APR on binance.com/earn Welcome and thank you for securing the Sonic Network!

The Chainlink data standard powers the majority of DeFi with highly secure market data. Integrate the USSD/USD Price Feed on Sonic to build advanced DeFi markets around our network-integrated stablecoin. 📃 data.chain.link/feeds/sonic/so…

The UX difference between Ethereum and Sonic never ceases to amaze me. Sonic feels like web2.

@SonicLabs keeping you busy on a Monday! 🤪

For those wondering: my point has nothing to do with Matt. The main point of this post is — and remains — to get working and prove people wrong. It is not meant to be a direct attack on an ecosystem or on any specific individuals. That is not my attention nor the story behind it.

Only a few months ago, market conditions were very different, with strong capital inflows into Bitcoin and Ethereum and growing institutional participation across digital assets. In response, Sonic Labs evaluated an institutional strategy. During this period, Mitchell joined the organization, contributing significant institutional experience and perspective as Sonic assessed multiple paths. His insight and GTM approach were valuable to the team overall. As macroeconomic uncertainty increased and market narratives shifted, Sonic ultimately chose to pursue a different direction. This evaluation was constructive and helped clarify the company’s long-term priorities, particularly as many Layer 1 ecosystems refocused on sustainable revenue and measurable value creation for their tokens. Looking ahead, Sonic is reaffirming its focus on a vertical integration initiative. Future efforts will align infrastructure, products, and incentives to drive long-term value, with a clear emphasis on strengthening the economic role and utility of the S token. While Sonic remains open to institutional inflow, the team will continue to monitor opportunities for engagement when conditions are favorable and aligned with the organization’s strategy. Relationships with Mitchell and Sonic Strategy remain supportive and positive as Sonic continues executing its long-term growth plans. It was a pleasure to work with Mitchell, we wish him the best in the future, and we look forward to consulting him for feedback on any potential institutional initiatives. Any claim that Mitchell was a “rent-a-CEO” is categorically false. Many members of the team have known him since his initial involvement with the Fantom community in 2020, where he was an active and engaged participant across global events and community initiatives over several years. Mitchell is an early crypto adopter and established entrepreneur in the space. One of his businesses provides fractional executive services, through which his firm has supported dozens of early-stage Web3 companies in establishing proper corporate structures and operational foundations. Amicably parting ways with a team member is a normal part of any business's evolution, and Sonic will continue moving forward as it has for the last 8 years.

@MitchellDemeter x.com/DunkingSquirre…

I’ve moved on from my role with Sonic Labs. While my time there was brief, I’m grateful for the experience and wish the organization all the best.

@0xseg I want to spawn stuff

For everyone who’s asking & registered on whitelist during the last round, you will regain access to the highly improved version very soon.

@SjHarcourt @0xseg moooooooooooar!

Watched the Spawn presentation live in Denver, incredible to see it on stage, its also playable for anyone today on Sonic testnet: snake.soniclabs.com. One of Sonic's first AI Apps. More please! @0xseg

@sawinyh @SmokeyTheBera All chains unfortunately :(

@SmokeyTheBera Finally people saying it out loud. Too many chains subsidized projects that were just extracting liquidity.

Seeing a lot of chains come to the same conclusion as we did last year If the eco projects aren’t driving demand for your token, or something which generates protocol rev (eg stablecoin demand), or wide scale distro, they aren’t necessarily helpful Build, buy, own the stack.

New assets now available to trade on Bitstamp by Robinhood in the US. $TAO (Bittensor) $ATOM (Cosmos) $S (Sonic) $FIGHT (FIGHT)

@coingecko Bullish

Gm, how are you feeling? Like = Bullish Comment = Bullish Repost = Bullish

@VitalikButerin @colludingnode You do DeFi?

> inb4 "muh USDC yield", that's not DeFi Would algorithmic stablecoins fall under this? IMO no (ie. algorithmic stablecoins are genuine defi) Easy mode answer: if we had a good ETH-backed algorithmic stablecoin, then *even if* 99% of the liquidity is backed by CDP holders who hold negative algo-dollars and separately positive dollars elsewhere, the fact that you have the ability to punt the counterparty risk on the dollars to a market maker is still a big feature. Hard mode answer: even if an algorithmic stablecoin is backed by RWAs, if it is overcollateralized and diversified to the extent that it would still be collateralized if any single RWA failed (ie. max share of any individual backing asset <= overcollateralization ratio), then that's also still a meaningful improvement to the risk properties experienced by a holder. I feel like that sort of thing (ideally the former, failing that the latter) is what we should be aiming more towards. And then from there, move away from the dollar as the UoA, and toward some kind of more generalized diverse index. Though of course, current "put USDC into Aave" gadgets do not qualify under either of my categories.

there is no reason to use DeFi unless you have longs on cryptocurrencies, and want access to financial services while preserving self-custody. This is why and how DeFi got bootstrapped, and all the other applications are cargo cults > inb4 "muh USDC yield", that's not DeFi

@lookonchain Being hunted

Three major on-chain liquidation zones on $ETH. Trend Research holds 356,150 $ETH($671M), with liquidation prices between $1,562 and $1,698. Joseph Lubin and two unknown whales hold 293,302 $ETH($553M), with liquidation prices between $1,329 and $1,368. 7 Siblings holds 286,733 $ETH($541M), with liquidation prices at $1,075 and $1,029.

@SmokeyTheBera @auguraemali323 @berachain @KingdomlyApp Facts.

I think a lot of other people have responded quite rationally on my behalf but to reiterate I don’t control the apps on the chain, this should be very obvious from many of their actions. If you’d like, you can also blame me for 9/11 or COVID if you’d like to continue an already ridiculous trend of ascribing fault to something where I have no control or influence. We had no heads up on this but I get it - NFTs are universally rekt rn, as are the vast majority of risk assets. Kudos to them for doing their best, obviously the outcome isn’t what people wanted.

another day another win for @berachain (the teams win but the users dont) without any notice in advance @KingdomlyApp is shutting down after promises of tons of rewards both from themselves and their partners they just go away thanks @SmokeyTheBera for letting this happen AGAIN

@AndreCronjeTech Yesssss

Revenue ~$30k/week, pre-product @ $50m TVL. Model works.

@StaniKulechov So good

If you are looking to buy a mansion some day sign up for aave.com/app

@kaiynne Facts.

The number of absolute fucking losers who have never done anything in their lives grave dancing good projects that are down over the last few days is frankly disgusting. Why the fuck are you even here, you are just coping with your own failure by tearing things down 😅