- Sonic Labs partners with Safe, offering enhanced security and seamless asset management for Sonic builders within the ecosystem.
- Fantom Foundation launches USDC.e on Wormhole, improving liquidity and access for developers and users in its ecosystem.
Sonic Labs, previously known as Fantom, has recently announced a partnership with Safe to enhance security and simplify asset management for all Sonic builders within the ecosystem. This collaboration is a significant advancement for Sonic as it provides users with access to a wide range of robust applications directly within the Safe platform.
Users will now have the ability to manage their assets, interact with decentralized finance (DeFi) applications, and perform various other functions through this partnership, all in a secure and cohesive environment.
š You asked. We listened.
We are thrilled to announce our partnership with @Safe to deliver top-notch security and seamless asset management to all #Sonic builders within the ecosystem!
š Sonic users will have access to a suite of powerful apps directly within Safe. Manage assets, interact withā¦ pic.twitter.com/K9CXW0mrnr
ā Sonic Labs (prev. Fantom) (@0xSonicLabs) August 14, 2024
Enhanced Security and Efficiency for Institutional Investors on Sonic Platform
Moreover, this collaboration offers a unique advantage for institutional investors operating on the Sonic platform. These investors will now be included in the $30 billion in assets managed by Safe across various blockchains.
This not only highlights the extensive reach of Safe’s operations but also the enhanced security and efficiency that Sonic users can anticipate from this partnership.
Safe will also integrate its Account Abstraction stack, designed to enhance user experience by enabling multi-step transactions, enhancing security through proxy wallets, and optimizing gas efficiency through the gas station network.
On another note, as previously reported by CNF, the Fantom Foundation has been awarded over $2 million in damages by the Singaporean court against the Multichain Foundation.
This legal victory is crucial for Fantom as they seek to appoint a liquidator to recover and redistribute assets affected by the multichain exploit, ensuring proper management and restoration to rightful owners.
Additionally, as per our previous report, the Fantom Foundation has taken significant strides to increase liquidity and accessibility within its ecosystem by launching the USDC.e stablecoin on the Wormhole network.
This initiative is part of Fantom’s broader strategy to facilitate seamless transitions to native USDC in the future, providing developers and users with a plethora of Fantom blockchain functionalities such as storage, payments, trading, borrowing, and lending.
This move aims to bolster the Fantom ecosystem by offering users more choices and flexibility.
Meanwhile, the price of Fantom’s native token, FTM, has demonstrated strong performance, currently trading at approximately $0.3874, marking a 6.20% increase over the last 24 hours, positioning it as one of the top gainers for the day.