“Hey y’all! I’m so excited to announce that Sonic is gearing up for our v2 launch and I can’t wait to share all the amazing things we have in store for our community. At Sonic, we understand the importance of liquidity in DeFi and that’s why we’re putting all our focus into overcoming this challenge with our v2 launch.
Get ready to revolutionize your crypto trading experience, people! 💥 The SonicUnwrap Protocol is here and it’s bringing a brand new on-ramp/off-ramp feature to the table. Starting in India, we’re piloting a UPI-based solution to make buying and selling crypto smoother and faster than ever before. And the cherry on top? This whole process is decentralized (even the UX), so you can say goodbye to middlemen handling your funds.
Users of Sonic can purchase cryptocurrencies using local payment systems like UPI and IMPS. No more complicated, time-consuming trading methods. This is a major step forward in the world of crypto trading, especially in India.
Introducing Sonic Unwrap Protocol
So, let’s dive in!
The Unwrap Wallet Contract is the heart of the protocol, acting as the funding wallet for all user assets. It’s where wrapped assets are created, ready to be used for those p2p unwrap orders. UWC allows for the seamless transfer of assets, minting of wrapped assets, and even burning of wrapped assets.
Unwrap OrderBook Contract — It interacts with the Unwrap Wallet Contract and gives users the power to place orders to buy or sell assets. The OrderBook Contract also keeps track of all the active orders, so you know exactly what’s going on at all times.
Unwrap Express OrderMatch Contract- This contract makes sure your trades go smoothly and efficiently. The Unwrap Express OrderMatch Contract accepts requests for matching orders and uses an off-chain machine learning system to find the perfect match. It returns the matching order ID and the time to wait, so you know exactly what’s happening.
Unwrap Proposal Contract- This contract is the key to secure and trustworthy trades on the Sonic platform. The Unwrap Proposal Contract creates a proposal that includes the matching order ID and user information. The proposal is given a time limit, suggested by the machine learning system, to ensure a smooth and efficient process. The Proposal Contract keeps track of important information like the escrow ID, the sender and receiver of the assets. Here’s the best part — both parties can vote on the proposal. If approved, the assets are transferred from the sender to the receiver, safely and securely.
So whether you’re a seasoned trader or just starting out, be sure to keep an eye out for the launch of Sonic v2 and experience the benefits of the Sonic. The future of crypto trading is here, and Sonic is leading the way.
Join us on this exciting journey!”
Follow our Twitter — https://twitter.com/sonic_ooo
Join Discord — https://discord.gg/kbpa3e4PAG
