The decentralized finance (DeFi) ecosystem continues to expand at an incredible pace, and the Internet Computer Protocol (ICP) is rapidly emerging as a key player in this dynamic landscape. At Sonic DEX, we are committed to developing a cutting-edge, user-friendly decentralized exchange on ICP that empowers users with innovative trading tools and opportunities. To keep our community informed and engaged, we are thrilled to unveil our ambitious roadmap, which outlines the exciting features and developments we have planned for the coming years.
In this article, we will walk you through the key milestones on our roadmap, from enhancing the core functionalities of our platform to expanding our token offerings and introducing advanced trading options. Our goal is to create a truly decentralized, secure, and high-performance trading platform that caters to novice and experienced traders. We believe that our roadmap reflects this vision and demonstrates our unwavering commitment to delivering the best possible experience to our users.
Join us as we embark on this incredible journey and revolutionize the world of decentralized trading. We are confident that with the support of our amazing community, we can make Sonic DEX a leading player in the DeFi space and drive the adoption of blockchain technology to new heights.
Sonic Dex Roadmap
Development Status representation
✅Green — item is on track to complete on time / no or low risk / all OK
🔸Orange — item has risks / is slightly off track, but we have a plan to get back on track
🔴Red — item is at high risk of not completing / off-schedule
🔵Haven't started yet
Q2 2023
- ✅ICRC Integration: Integrate the Internet Computer’s native token standard (ICRC) to expand token support and improve interoperability within the ICP ecosystem.
- ✅DIP20/ICRC Token Pairs: Enable trading of DIP20 tokens against ICRC tokens, increasing the number of available trading pairs and offering users more opportunities to diversify their portfolios.
- ✅SWAP APIs for dApps: Develop and release a set of robust SWAP APIs that enable other dApps within the ICP ecosystem to easily integrate and utilize Sonic DEX’s swapping functionality.
- 🔸Yield Farming: Introduce yield farming opportunities to incentivize users to provide liquidity to the platform in return for earning rewards in the form of native tokens or other assets.
- ✅SNS : Launch Sonic token via SNS
- 🔵Metamask Login (SNAP): Integrate support for Metamask’s SNAP (Simple Noncustodial Approval Protocol) to streamline the login process for users and enable them to access Sonic DEX using their familiar Metamask accounts.
- 🔵$SOC Reward Distribution: Launch the distribution of SOC (Sonic Token) rewards to users participating in liquidity provision, staking, and other activities that contribute to the growth of the platform.
- ✅Sonic DAO: Establish the Sonic Decentralized Autonomous Organization (DAO) to empower the community to participate in decision-making processes, ensuring the long-term success and sustainability of the platform.
- 🔵Security and Audits: Implement robust security measures and conduct regular third-party audits to ensure the safety and integrity of the platform and user assets.
- ✅Governance and Tokenomics: Refine the governance structure and tokenomics to incentivize user participation, align stakeholder interests, and promote long-term platform sustainability.
Q3 — Q4 (2023)
- ✅Multi-Canister Architecture: Develop a modular and scalable infrastructure to accommodate the growing needs of the platform and enhance its performance.
- 🔵Limit Order Swaps: Introduce limit order functionality to enable users to set target prices for swaps, providing more control over their trades.
- 🔵Synthetic Assets using tECDSA: Develop and launch synthetic assets using threshold ECDSA, allowing users to gain exposure to a wide range of assets without directly owning them.
- 🔵Top 50 Token Pair Support: Expand the platform’s trading pairs to include the top 50 tokens by market capitalization, offering users greater choice and liquidity.
- 🔵Security and Audits: Implement robust security measures and conduct regular third-party audits to ensure the safety and integrity of the platform and user assets.
- 🔵Governance and Tokenomics: Revisit and refine the governance structure and tokenomics to incentivize user participation, align stakeholder interests, and promote long-term platform sustainability.
Q4 2024 — Q2 2025
- 🔵Order Book: Implement an order book system to provide real-time information on buy and sell orders, allowing users to make more informed trading decisions and enhancing the overall trading experience on Sonic DEX.
Q3 2024 — Q1 2025
- 🔵Implementing Crypto Derivatives: Develop and launch a range of crypto derivative products such as futures, options, and perpetual swaps, providing users with more advanced trading strategies and risk management options.
- 🔵Security and Audits: Implement robust security measures and conduct regular third-party audits to ensure the safety and integrity of the platform and user assets.
- 🔵Governance and Tokenomics: Revist and refine the governance structure and tokenomics to incentivize user participation, align stakeholder interests, and promote long-term platform sustainability.
The Sonic DEX team is fully dedicated to realizing the potential of decentralized trading. Our carefully crafted roadmap encompasses a diverse range of features and improvements to provide an unparalleled trading experience for our users while ensuring platform security and sustainability.
From introducing ICRC integration and enabling new token pairs to develop sophisticated trading tools like order books and crypto derivatives, our roadmap demonstrates our long-term commitment to innovation and excellence in the DeFi space. Moreover, we understand the importance of community involvement and will establish the Sonic DAO to empower our users in shaping the platform’s future.
PS:
As we strive to create a comprehensive and well-rounded trading platform for our users, it’s important to constantly evaluate and prioritize features based on their relevance and impact on the ecosystem. In this regard, we have made the decision to exclude the Liquidity Bootstrapping Pool (LBP) from our current roadmap.
Although the backend implementation for LBP has been completed, the feature may not be the best fit for Sonic DEX at this stage, particularly in light of the anticipated bear market expected to last until 2025. Given the current market conditions and trends, we have focused on other features that will provide greater value to our users and better support the platform's growth.
We are always open to revisiting this decision and including LBP if the market dynamics shift or if we identify a specific use case that can benefit from this feature. In the meantime, we will continue to monitor the DeFi landscape and actively explore opportunities to enhance the Sonic DEX platform with innovative tools and services that cater to the evolving needs of our users.
Thank you for being so understanding, and we appreciate your continued support as we work towards building a world-class decentralized exchange.
Team Sonic
