Sonic Labs has partnered with CoinEasy to enhance Web3 and DeFi education in South Korea through localized workshops and community engagement. The collaboration focuses on demystifying smart contracts, tokenization, and dApp usage for Korean developers, offering tailored resources in Korean. Additionally, Sonic Labs is expanding its ecosystem globally, securing $10 million from Galaxy and partnering with GSR for liquidity and institutional support. The project also launched a 200M S token airdrop, including US participants, signaling broader outreach. Despite market fluctuations (S token down 1.01% in 24 hours), their South Korea strategy stands out for its human-centric approach.
about Sonic Labs & CoinEasy Boost Web3 Education in South KoreaGalaxy
0 in Finance and 0 in Crypto last weekEthereum’s Pectra Upgrade Slashes Blob Costs, Boosts L2 Networks
The Pectra upgrade on Ethereum has slashed blob transaction costs from ~$16,000 daily to a fraction of a penny, significantly reducing operational costs for layer-2 networks like Base, Arbitrum, and Optimism. Despite a 33% increase in blob usage, rollups haven’t fully utilized the expanded capacity, leading to a substantial drop in prices. However, the reduced costs have increased the data burden on validators, prompting smaller operators to merge with larger ones. While this raises centralization concerns, some argue it may actually decentralize Ethereum further. Meanwhile, ETH’s price surged 27% in May, reflecting positive market sentiment.
about Ethereum's Pectra Upgrade Slashes Blob Costs, Boosts L2 NetworksSonic Labs Launches 200M S Token Airdrop for US Users
Sonic Labs is making waves with its 200M S token airdrop, notably including U.S. residents for the first time. Eligible participants must use non-custodial wallets and engage with Sonic’s DeFi ecosystem, with rewards distributed over 270 days and staking options offering a 4.61% annual return. The project has secured GSR as a market maker and closed a $10M strategic sale with Galaxy to expand its DeFi footprint. Additionally, Sonic Labs won a legal victory in Singapore to liquidate the Multichain Foundation following a 2023 hack, reinforcing user trust. Despite a recent price dip, the airdrop and partnerships signal strong growth ambitions.
about Sonic Labs Launches 200M S Token Airdrop for US UsersMoonPay Secures BitLicense, Expands US Crypto Access
MoonPay has achieved a significant milestone by securing a BitLicense from the New York State Department of Financial Services (NYDFS), allowing it to operate legally in all 50 U.S. states, including strictly regulated New York. This rare approval solidifies MoonPay’s position in the U.S. crypto market. Additionally, the company has expanded its global reach through a partnership with Mastercard, enabling seamless stablecoin-based payments via its acquired platform, Iron. MoonPay also secured a $200 million credit line from Galaxy to ensure liquidity for its 30 million users. Beyond financial services, MoonPay has ventured into gaming with a limited-edition PSG1 console giveaway, showcasing its innovative and playful approach to crypto adoption.
about MoonPay Secures BitLicense, Expands US Crypto AccessGSR Boosts Sonic’s DeFi with S Token Liquidity
Sonic Labs has appointed GSR as the official market maker for its native S token, ensuring deep liquidity and market stability. Beyond trading, GSR will actively support DeFi projects on the Sonic network, offering strategic expertise. The partnership follows Sonic’s recent $10M token sale to Galaxy and integration with Trust Wallet, streamlining cross-chain swaps. With S token’s price rising 2.23% and market cap exceeding $120M, Sonic is positioning itself as a key player in DeFi. The collaboration underscores Sonic’s commitment to ecosystem growth, backed by GSR’s trading prowess and Arkham Intelligence’s analytics tools.
about GSR Boosts Sonic’s DeFi with S Token LiquiditySonic Labs Secures $10M from Galaxy for US DeFi Expansion
Sonic Labs announced a $10 million strategic sale of its S token to Galaxy, a global leader in digital assets, during the Sonic Summit in Vienna. This investment strengthens Sonic Labs’ position in the U.S. market and supports its DeFi ecosystem development. The partnership leverages Galaxy’s extensive institutional network to bridge traditional finance with blockchain infrastructure. Sonic Labs, known for its high-performance EVM compatibility, aims to meet enterprise-level demands as institutional interest in blockchain grows. Galaxy, headquartered in New York, provides trading, advisory, and data center solutions for AI and digital assets. The deal signals increasing institutional confidence in blockchain’s potential to transform financial markets securely.
about Sonic Labs Secures $10M from Galaxy for US DeFi ExpansionSonic Labs Secures $10M from Galaxy for US DeFi Expansion
Sonic Labs announced a $10 million strategic sale of its S token to Galaxy during the Sonic Summit in Vienna, marking a pivotal step in its U.S. expansion. The partnership leverages Galaxy’s institutional network to bridge traditional finance with Sonic’s high-performance EVM-compatible blockchain. This collaboration highlights growing institutional confidence in DeFi, with Sonic Labs positioning itself as a key player in enterprise-grade blockchain solutions. Galaxy’s investment underscores the increasing convergence of digital assets and institutional finance, further solidifying Sonic’s role in the evolving DeFi landscape.
about Sonic Labs Secures $10M from Galaxy for US DeFi ExpansionCrypto Council Urges SEC to Clarify Staking Rules
The Crypto Council for Innovation, backed by major firms like Consensys and Kraken, has urged the SEC to issue clear guidance stating that crypto staking does not fall under securities regulations. In an open letter, the council emphasized that staking is a technical mechanism for securing blockchain networks, not an investment activity. The group proposed industry standards for transparency and user control in staking services, aligning with the SEC’s previous stance on mining. This request comes amid a broader push for regulatory clarity under new SEC leadership, which has shown a more pro-crypto approach. The letter also outlines a framework for staking providers, including user disclosures and reward transparency.
about Crypto Council Urges SEC to Clarify Staking RulesDeFi Lending Hits $19B in 2024, Doubling CeFi Loans
The Galaxy report highlights a significant shift in the crypto lending landscape, with DeFi protocols reaching $19.1 billion in outstanding loans by the end of 2024—a 959% increase since 2022. In contrast, the CeFi lending market, led by Tether, Galaxy, and Ledn, accounted for $9.9 billion (27% of the total market, including CDP stablecoins). The overall crypto lending market, including CDP stablecoins, was $36.5 billion, down 43% from its 2021 peak due to lender collapses and reduced demand. DeFi’s growth is attributed to its permissionless nature, cross-chain liquidity, and resilience during market volatility, while CeFi’s institutional offerings face challenges from counterparty risks and declining trust. The report underscores a broader trend toward decentralized solutions in crypto finance.
about DeFi Lending Hits $19B in 2024, Doubling CeFi Loans