- Sonic Labs teams up with Safe to enhance security and streamline asset management for Sonic builders in the ecosystem.
- Fantom Foundation introduces USDC.e on Wormhole, enhancing liquidity and accessibility for developers and users within its ecosystem.
Sonic Labs, previously known as Fantom, has revealed a partnership with Safe to enhance security and simplify asset management for all Sonic builders in the ecosystem. This collaboration marks a significant advancement for Sonic as it grants users access to a wide array of robust applications directly within the Safe platform.
Users will now be able to manage their assets, interact with decentralized finance (DeFi) applications, and perform various functions seamlessly, all within a secure and unified environment.
🚀 You asked. We listened.
We’re thrilled to collaborate with @Safe to deliver top-notch security and seamless asset management to all #Sonic builders within the ecosystem!
🔐 Sonic users will have access to a suite of powerful apps directly within Safe. Manage assets, interact with… pic.twitter.com/K9CXW0mrnr
— Sonic Labs (prev. Fantom) (@0xSonicLabs) August 14, 2024
Enhanced Security and Efficiency for Institutional Investors on Sonic Platform
Additionally, institutional investors operating on the Sonic platform will benefit significantly from this collaboration. These investors will now be part of the $30 billion in assets currently managed by Safe across multiple blockchains.
This not only highlights the scale of Safe’s operations but also underscores the enhanced security and efficiency that Sonic users can expect from this partnership.
Safe will also implement its Account Abstraction stack, aimed at enhancing the user experience by enabling multi-step transactions, improving security with proxy wallets, and optimizing gas efficiency through the gas station network.
On another note, as previously reported by CNF, the Fantom Foundation has been awarded over $2 million in damages by the Singaporean court against the Multichain Foundation.
This legal victory is crucial for Fantom as the foundation seeks to appoint a liquidator to recover and distribute assets affected by the multichain exploit, ensuring that these assets are properly managed and returned to their rightful owners.
Furthermore, in line with our earlier report, the Fantom Foundation has taken significant steps to enhance liquidity and accessibility within its ecosystem by launching the USDC.e stablecoin on the Wormhole network.
This initiative is part of Fantom’s broader strategy to facilitate seamless transitions to native USDC in the future. USDC.e offers developers and users a range of features on the Fantom blockchain, including storage, payments, trading, borrowing, and lending.
This move is designed to bolster the Fantom ecosystem by providing users with increased options and flexibility.
Meanwhile, the price of Fantom’s native token, FTM, has shown strong performance, with FTM trading at approximately $0.3874 at the time of writing, marking a 6.20% increase over the last 24 hours and positioning it as one of the top gainers for the day.
