Introducing Sonic’s Analytics App — Global Analytics for the Sonic Protocol 🌎
Sonic Analytics is live! Start browsing our on-chain protocol wide analytics data through our new analytics app (volume, liquidity, pool-specific APR and more).
Last update we dropped the fees earned feature and hinted that it was a small taste of what’s to come… Well, we’re here to deliver!
Today, we’re releasing a brand new app — meet Sonic Analytics, an application for consuming global analytics of the Sonic protocol.
You guys have been asking for this update a lot… like, a lot a lot! In fact it’s been by far the most requested feature since Sonic’s genesis. We’ve been hard at work on this one for a while, so without further ado let’s dive in!
But wait, curious to try it out for yourself? We got you, click here (it’s mobile friendly too!).
Sonic Analytics — An Overview 📈
Before introducing the Analytics App, Sonic users could only consume history data through their activity tab… but no more!
You can think of Sonic Analytics as the aggregation and summarization of everyone’s activity on Sonic. This data has been available on-chain through the transactions that Sonic logs through CAP and now we’ve organized and packaged it in application form.
So, what info does Sonic Analytics have, anyway? Well, we’ve taken a top-down approach to the presentation of Sonic’s analytical data. This means that the application has a main Overview tab but gives the ability for the user to sift through and get as granular as they’d like with our pool & token specific views.
Looking to take a bird’s eye view of the entire Sonic protocol? The Overview tab is the place to do so. Time-series Volume and Liquidity statistics live here in addition to top-level views of the most popular tokens and pools.
- Visit the Overview Tab
Pool & Token Tabs
For a more in-depth view navigate to the Pools or Tokens tabs from the Analytics App menu. From here you’ll be able to dive into a token or pool specific view of your choice.
As Sonic scales up and introduces more avenues to permissionlessly add tokens (more on that in the next section), the tokens/pools sections in the Overview tab will represent only a snapshot of the most active tokens and pools while discovery of new tokens and pools will be possible through the Tokens/Pools tabs respectively.
Sonic’s Multi-Coin Future 🔮
Since Sonic’s genesis, we’ve made it our goal to add the most requested features from the community. We are happy to say that we are completing this goal with the addition of Sonic Analytics and are confident in moving on to the next phase in Sonic’s roadmap; the growth phase.
But, what does ‘growth phase’ mean and how will we execute it? Let’s start with defining what we mean by growth.
In its current state, Sonic has a limited token set that our team has selected — doesn’t sound much like an open internet protocol, does it? Our goal with the upcoming growth phase is to tear down some of the walled gardens we have around token accessibility and by doing so, attract more liquidity and token velocity to Sonic.
There are three main avenues we are planning to achieve this:
Avenue One — Additions of Any Dip20 Token
The first and most obvious avenue for attracting new liquidity is to allow creators & developers to add their own DIP20 tokens to Sonic.
While this may seem simple on the surface, we want to do our best to keep the Sonic protocol safe and free of malicious actors. That’s why to start, these token additions will be done through manual submissions while we work to create a system for automatic testing and vetting of malicious tokens.
Avenue Two — Liquidity Bootstrapping Pools
Liquidity Bootstrapping Pools (LBPs) are also coming to Sonic. LBPs are a method of token listing that allows project founders to team up with their community to find a fair market price for their token, while at the same time generating liquidity for their token.
This will become a big win for both project founders and community members looking to get their hands on tokens early. Be on the lookout for more information soon as we flesh out the interworking of this feature’s implementation.
Avenue Three — Automatic Bridged Token Additions From Terabethia
Now what if I told you that soon you’ll be able to swap any of your ETH or ERC20 tokens on Sonic? It’s true! After LBPs we are going to be working to automatically add all tokens bridged to the Internet Computer through Terabethia’s Magic Proxy & Token Factory contracts.
This can’t be scalable though, can it? Well, here’s the magical part: all tokens bridged through Terbethia will use the DIP20 standard for their wrapped counterparts… yup, the exact same standard that Sonic’s swaps and pools are built on!
TLDR: we’re going to open the liquidity flood gates to Sonic by automatically creating pools and subsequently swaps for not just ETH, but all current and future ERC20 tokens as well.
That’s A Wrap 🗞
This has been a significant milestone update for Sonic. We can’t tell you how much work went into this update, we’re quite proud of it!
If you’ve got any questions or thoughts about Sonic Analytics or where Sonic is headed next (LBPs, governance, and more tokens), we suggest you hop into our Discord to jam with our team. We’ll see you there 👋