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Sonic price
in USD$0.1728
-- (--)
USD
Market cap
$653.63M #60
Circulating supply
3.78B / 3.89B
All-time high
$0.991
24h volume
$64.20M
About Sonic
Sonic’s price performance
Past year
--
--
3 months
-57.57%
$0.41
30 days
-44.60%
$0.31
7 days
-8.72%
$0.19
Sonic on socials
This is still subsidized, by the way. Hope everyone who aped into this at 40% and 20% and 15% are monitoring it 🫠
As pointed out before, the risk here is illiquidity. There’s no incentive for the one large borrower to repay, and they also control all the parameters (hence manual adjustments of yield ever lower to a target range that’s absurdly low).
So once other depositors withdraw and utilization gets high, you’re stuck until new depositors show up.
PaperImperium
Checking in on this special vault to lend against SKY, the (still subsidized!) yield has now been manually adjusted down to 10%.
It’s amazing to me for people to lend into a market dominated by a single borrower with no history of repayment (so liquidity likely only comes from new depositors), who also controls the oracle, liquidation, LTV, and interest rate parameters. Especially with the interest rate they pay being manually adjusted from 20% to 10% over the last three days!
The spread between sUSDS and stUSDS is a mere 550 bps and still not at its unsubsidized or equilibrium rate. That there are people in this makes me think that yield opportunities at scale (>$5m) must be getting scarce. Because as lopsided as the risk-reward is, it’s always against a standard of “compared to what”
The top lender appears to be Fasanara, who are presumably monitoring liquidity.
So let's do this with @SonicLabs
Based on Sonicscan Data
Based on a wS price of $0.20 USD:
Max Gas Price: 3,897,762 Gwei ≈ 0.7796 USD
Min Gas Price: 50 Gwei ≈ 0.00001 USD
I only use Oct 10, but surprisingly, there were two days of high traffic <- why do you think?
there was 599,558.37 Million gas used
there were a total of 1,302,666 txns
Total Cost: $119,911.674 USD
Cost per Transaction: $0.09205 USD
So, assuming every single txn that day paid the worst, which is 100 percent not true
it was ~10 cents a TXN.
Now like on arbitrum, we know that many paid the min, here is less than a fraction of a fraction of the cent,
we can estimate that some people paid significantly higher gas than 0.09 usd for a txn.
0.9? <- this is believable
9.0? <- this i start to doubt
CΞAZOR.eth mak'n 🥪s 🦇🔊🍚⛓
So i had some convo recently where they said gas on @arbitrum spiked to 100USD a txn during the Oct 10th dump.
so i decided to look at the numbers.
based on Arbiscan data
Based on an ETH price of $4,000 USD:
Average Gas Price: 0.522 Gwei ≈ 0.0002088 cents USD
Max Gas Price: 41.45 Gwei ≈ 0.01658 cents USD
Min Gas Price: 0.01 Gwei ≈ 0.000004 cents USD
there was 595051.53 Million gas used
there were a total of 3.859M txns
Assuming Every txn paid Max Gas Price, which is 100percent not true
Total cost: ~$98,675,545 USD.
Cost per transaction: ~$25.57 USD
So i guess its not to shabby. that said, if we allocate a lot of txn that day to the 0.000004 cents, then we might have seen txns at 100usd plus during the Max gas Spike.
So.... the lesson is dont lever up to the point that you are desperate to rebalance your CDPs during turmoil.
be conservative
< Adam's Yap Pharmacy OPEN🎊 >
If you're stuck or can't predict while yap-ing, come visit us!
Yap Pharmacy is not just a meme, but a pharmacy that translates the philosophy of @AlloraNetwork into human language.
Allora tracks the accuracy of each Predictor, and the Metamodel readjusts weights with Adaptive Weighting,
while evolving Collective Intelligence through a Feedback Loop.
Yap Pharmacy is a version that conveys that in a human way.
When someone brings in an uncertain 'symptom',
pharmacists (Predictors) provide prescriptions (predictions), and
the Yap Pharmacy's Metamodel combines the most reliable prescriptions.
If predictions get stuck, we'll even throw in a gi-yap (🗣️), and instead of a reward, you get a bottle of yap-kurt.
In the end, Yap Pharmacy is a place that prescribes intelligence like medicine.
If Allora refines signals on-chain, Yap Pharmacy refines those signals into memes and conversations.
AdamsuMus
💊 Yap Pharmacy is now open. Please congratulate us. 🎊
Dr. Kayo from KAIST,
if you touch or brush against it, it’s all about the leaderboard, clumsy pharmacist,
both of you will be prescribing and preparing at Yap Pharmacy… I need more training to become a pharmacist at Yap Pharmacy, so I’m just a part-time helper.
💊 Yap blood blockage 💊 Yap pregnancy, or if there’s something else that’s hard to prescribe, I’ll at least add a little bit of Gi-Yap (🗣️).
@AlloraNetwork @SonicLabs @Infinit_Labs @Everlyn_ai @Mira_Network @irys_xyz and so on, no matter what project it is, just come on over. Intermediate and advanced users, please stop by too. Have a bottle of Yap-Kurt and take a break.
💐 We decline congratulatory flower bouquets. (It’s an online Yap Pharmacy, you know) ❤️🩹❤️
Instead, please spread the word through retweets or quotes. 🙇♂️🙇🏻🙇♂️
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Sonic FAQ
Currently, one Sonic is worth $0.1728. For answers and insight into Sonic's price action, you're in the right place. Explore the latest Sonic charts and trade responsibly with OKX.
Cryptocurrencies, such as Sonic, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Sonic have been created as well.
Check out our Sonic price prediction page to forecast future prices and determine your price targets.
Dive deeper into Sonic
Sonic is an EVM L1 chain with powerful incentives and infrastructure for DeFi.
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The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.
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OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
Market cap
$653.63M #60
Circulating supply
3.78B / 3.89B
All-time high
$0.991
24h volume
$64.20M