- 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, formerly known as Fantom, has announced a collaboration with Safe to improve security and simplify asset management for all Sonic builders in the ecosystem. This agreement is a huge step forward for Sonic because it gives consumers access to a broad range of strong applications right within the Safe platform.
Users will be able to manage their assets, engage with decentralized finance (DeFi) applications, and execute a variety of other functions thanks to this relationship, all in a secure and unified environment.
🚀 You asked. We listened.
We’re excited to partner with @Safe to bring top-notch security and seamless asset management to all #Sonic builders within the ecosystem!
🔐 Sonic users will gain access to a suite of powerful apps directly within Safe. Manage assets, interact with… pic.twitter.com/K9CXW0mrnr
— Sonic Labs (prev. Fantom) (@0xSonicLabs) August 14, 2024
Enhanced Security and Efficiency for Institutional Investors on Sonic Platform
Furthermore, for institutional investors active on the Sonic platform, this collaboration provides a distinct benefit. These investors will now be part of the $30 billion in assets that Safe presently administers across a variety of blockchains.
This not only emphasizes the scope of Safe’s operations, but also the improved security and efficiency that Sonic consumers may expect from this relationship.
Safe will also install its Account Abstraction stack, which is intended to improve the user experience by allowing multi-step transactions, increasing security using proxy wallets, and maximizing gas efficiency via the gas station network.
On the other hand, as CNF previously reported, the Singaporean court has awarded the Fantom Foundation more than $2 million in damages against the Multichain Foundation.
This judicial victory is essential for Fantom, as the foundation attempts to appoint a liquidator to recover and distribute assets impacted by the multichain exploit. This action is aimed to guaranteeing that the affected assets are managed appropriately and restored to their rightful owners.
Furthermore, according to our prior report, the Fantom Foundation has taken major steps to boost liquidity and accessibility within its ecosystem, establishing the USDC.e stablecoin on the Wormhole network.
This endeavor is part of Fantom’s overall plan to provide seamless transitions to native USDC in the future. USDC.e offers developers and customers a wide range of Fantom blockchain features, including storage, payments, trading, borrowing, and lending.
This move is designed to boost the Fantom ecosystem by giving users more alternatives and flexibility.
Meanwhile, the price of Fantom’s native token, FTM, has been performing admirably. At the time of writing, FTM was trading at roughly $0.3874, up 6.20% over the last 24 hours, making it top of the day’s top gainers.
