Portals expands its lineup of supported networks with Sonic, the high-performing EVM L1, combining speed, incentives, and world-class infrastructure.
The potential of Decentralized Finance hinges on its scalability. Onboarding billions into the space requires the elimination of any and all usage bottlenecks. Sonic has been making waves recently, addressing these exact issues and more. Due to the promise shown thus far, and the network’s popularity, we’ve chosen to launch on Sonic; this follows our recent network expansion on the Fraxtal network.
Sonic is an EVM L1 capable of 10,000 TPS and sub-second finality, promising exceptional performance and EVM compatibility. Its native token, ’S’, has multiple roles within the network, such as paying for transaction fees, staking, running validators, and participating in governance. As of right now, the network has over $800M of total value locked in DeFi, and Sonic apps have earned over 350,000 $S through their fee monetization mechanic.
Portals launching on Sonic gives projects, developers, and traders immediate access to advanced asset swaps, single-transaction yield opportunity zaps, and rich data insights (both real-time and historical). In addition, Sonic will join our line-up of networks and enable cross-zap interactions in the near future.
Sonic now enjoys support from our full range of products and integration into the Explorer Dashboard. Our array of tools, designed to optimize DeFi, can now be utilized by any project building on Sonic.
• Swaps & Zaps: Intent-driven, smart route optimisation through Portals’ native DEX aggregation, providing seamless any-asset to any-asset swaps and one-click zaps in & out of yield opportunities.
• Comprehensive Data API: Real-time & historical insights into DeFi assets across protocols, including access to APYs, TVL, prices, balances, wallets, contract addresses.
• 🔜 Explorer Dashboard & Cross-chain Features: A comprehensive developer & user hub to monitor API calls, strategy performance, asset characteristics, and more.
Coverage of protocols supported on Sonic kicks off with a robust line up of major protocols, including Silo Finance, Beefy Finance, UniSwap V3, Equalizer, Beets, Pendle, and more. As seen in our continuous protocol expansion for supported networks, this is merely the bedrock from which Sonic integration will grow.
Portals on Sonic is a step towards making DeFi easier, smarter, more accessible, no matter where you’re trading or what you’re building.
Portals supports a host of different EVM blockchain networks, making seamless DeFi interactions possible across these ecosystems. Sonic is an evolution of Fantom network, now fully transitioned. As part of this evolution, we will be deprecating our support for Fantom as of today, with support for Sonic live as of the publication of this article.
This development ensures that Portals (and its users) stays aligned with the latest developments in blockchain infrastructure.
Integrate the Portals API today: https://docs.portals.fi/
