- Sonic Labs has partnered with Safe to provide enhanced security and seamless asset management for Sonic builders within the ecosystem.
- Fantom Foundation launches USDC.e on Wormhole, improving liquidity and access for developers and users in its ecosystem.
Sonic Labs, formerly known as Fantom, has announced a partnership with Safe to improve security and simplify asset management for all Sonic builders in the ecosystem. This agreement is a huge step forward for Sonic as it gives consumers access to a wide range of powerful applications directly within the Safe platform.
This relationship allows users to manage their assets, leverage decentralized finance (DeFi) applications, and perform a variety of other functions, all in a secure and unified environment.
🚀You asked. We listened.
We’re excited to partner with @Safe to bring best-in-class security and seamless asset management to all #Sonic builders within the ecosystem!
🔐Sonic users can access a range of powerful apps directly from Safe. Manage assets, communicate with… pic.twitter.com/K9CXW0mrnr
— Sonic Labs (formerly Fantom) (@0xSonicLabs) August 14, 2024
Enhanced security and efficiency for institutional investors on Sonic Platform
Furthermore, for institutional investors active on the Sonic platformThis collaboration offers a clear advantage. These investors will now be part of the $30 billion in assets that Safe currently manages across various blockchains.
This not only highlights the scope of Safe’s operations, but also the improved safety and efficiency that Sonic consumers can expect from this relationship.
Safe will also install its Account Abstraction stack, which aims to improve the user experience by enabling multi-step transactions, increasing security using proxy wallets and maximizing gas efficiency through the gas station network.
On the other hand, like CNF before reportedthe Singaporean court has awarded the Fantom Foundation more than $2 million in damages against the Multichain Foundation.
This court victory is vital for Fantom as the foundation seeks to appoint a liquidator to recover and distribute the assets affected by the multichain exploit. This action is intended to ensure that the affected assets are properly managed and returned to their rightful owners.
Further according to our prior reportFantom Foundation has taken significant steps to increase liquidity and accessibility within its ecosystem by establishing the USDC.e stablecoin on the Wormhole network.
This effort is part of Fantom’s overall plan to provide seamless transitions to native USDC in the future. USDC.e offers developers and customers a wide range of Fantom blockchain features including storage, payments, trading, borrowing and lending.
This move aims to boost the Fantom ecosystem by providing users with more alternatives and flexibility.
Meanwhile, the price of Fantom’s own token, FTM, has performed admirably. At the time of writing, FTM was trading at approximately $0.3874upwards 6.20% of the past 24 hours, putting him among the top winners of the day.