Adding Additional Liquidity to Strengthen $SONIC Market Stability
Greetings, Sonic community!
We’re excited to announce an important proposal aimed at strengthening the market liquidity and stability of our native token, $SONIC. As part of our ongoing efforts to improve the Sonic ecosystem, we are proposing to add 30,000 ICP worth of liquidity to the SONIC/ICP trading pairs across Sonic DEX platforms.
This initiative will not only increase the overall market liquidity for $SONIC but also help reduce price volatility, creating a more stable and rewarding trading experience for all users
Liquidity Allocation Breakdown:
- 20,000 ICP will be added to the SONIC/ICP pool on Sonic ICP DEX.
- 10,000 ICP will be allocated to the newly launched SONIC/ICP pool on Sonic Bitfinity DEX.
Execution Plan:
- Upon approval of this motion proposal, the Sonic team will submit separate treasury proposals to transfer both ICP and SONIC tokens to a wallet managed by the team for the purpose of liquidity addition.
- Once the liquidity is added, the resulting LP positions will be transferred to Sonic governance canister, ensuring full transparency and community ownership.
- Team is also requesting 7M Sonic tokens for this LP creations, which is an estimated number based on the current market. All the remaining SONIC tokens after LP creation will be burned.
- All relevant updates, including fund transfers and LP position details, will be shared with the community via Sonic’s official Twitter and Medium.
This proposal is an essential step toward enhancing the overall strength of the Sonic ecosystem. By increasing liquidity and reducing volatility, we are fostering a more reliable trading environment for $SONIC, ultimately benefiting the entire community.
Sonic Team
