The team is currently super optimizing for DeFi, including more prototype designs, more new features, and more composability, aiming to ensure that no chain can compete with SONIC in DeFi.
Author: DaPangDun (@DaPangDunCrypto)
Recently, @kyle_chasse and @AndreCronjeTech had an interview. I carefully watched the interview video and found it packed with information, so I made this content summary.
1. Changes in Views on Blockchain
During the ICO era, everyone was excited about decentralization, and developers were striving to build completely decentralized systems, emphasizing immutability and altruism. However, over time, he tends to view teams and products more like companies, suggesting not to overly pursue decentralization or emphasize immutability. There needs to be some upgradeable measures for security practices to prevent potential issues.
2. Positioning of Sonic Labs
The main function of Sonic Labs is to maintain the software that runs validators. The SONIC network itself is standard, and they are actively collaborating with other validators. However, the new generation of blockchains (especially in the early stages) requires leadership and technical capability, which is where the labs come into play. Currently, the SONIC team is optimizing the network at a pace that other teams cannot catch up to.
3. Views on L1
From AC's perspective, L1 is referred to as a digital nation because it needs to provide the correct monetary policy, effective and user-friendly infrastructure, and enable enterprises (dapps) within the nation to thrive.
Kyle's summary is very interesting: a world where governments compete for citizens. Given the current state of so many L1s, it is indeed a profound summary.
4. Significance of the FeeM Model
The FeeM model is an incentive measure provided by SONIC for its enterprises (dapps). Compared to many blockchains that give the main gas fees to validators, the SONIC network subsidizes the main fees to applications, allowing developers to receive initial incentives and potentially enabling their economic models to operate in the early stages. In AC's view, the ICO model is absurd as it assumes you start with a lot of money without having created anything.
Kyle discussed funding models. Yes, many blockchains offer funding models, but they are inefficient and not unique.
5. Phantom
AC introduced the journey of Phantom, which I won't elaborate on here, detailing the origins of this experience.
6. Expectations for ETH and Views on EVM
AC has always hoped that ETH would adopt their technology, such as their database technology, which could directly reduce storage pressure by 98%. Moreover, it is compatible with the same compiler as EVM, free, open-source, and valuable. Why not adopt it? He wants to give back to EVM, but he finds that it requires struggle, and he no longer wants to fight.
SONIC's VM and consensus mechanism are separate, and in principle, various ordering mechanisms can be used, including but not limited to EVM, SVM, MOVE, etc.
Regarding EVM, he believes SVM is indeed better, presenting more visionary thinking, as determining memory addresses before execution allows for very good parallelization.
7. TPS and SONIC Experience
An obvious fact is that when discussing TPS, we need to set testing benchmarks, such as a minimum gas transfer and a transaction involving complex smart contracts, which will clearly show vastly different performances.
Under SONIC's own testing tools, simple transfer transactions can achieve 600,000 per second, while transactions of maximum complexity can reach 8,000-10,000, with peaks at 16,000.
In terms of experience, most blockchain frontends use asynchronous programming, constantly requesting RPC to confirm transaction status, while SONIC's frontend and RPC are almost synchronous.
8. SONIC's Deep Plan
SONIC is about to launch a "fee subsidy" feature: anyone (currently in whitelist mode) can provide gas for other users, allowing application products to enable users to enter the network without gas. Now, considering the 90% gas fee rewards from FeeM, the cost of attracting users to the project will be very low.
AC believes that wallet gas is a barrier; if you let a user in, they need to deposit gas first, which will already deter many users (this is clearly thinking from the perspective of web2 users).
Another feature to be launched is the "smart wallet," which is a further development based on "abstract wallets," reflected in:
The ability to use any token as gas
The ability to log in with various accounts
One login allows continuous use (as long as they don't log out), without needing to log in frequently each time
Many approval steps during use will also be optimized
This is designed with the perspective of "maximizing user experience," not requiring users to deeply understand blockchain-level details, but focusing on usage and cool products.
Kyle raised concerns about large amounts of security, and AC's response was that most blockchains do not group their users. Users with large funds are either seasoned professionals or have hired seasoned professionals.
9. About SONIC's Development
First, AC stated that he would not talk to any VC investor funds, believing that large market makers, big funds, or VCs lack loyalty!
He then mentioned that most projects would have a high TVL, which would be locked for a period, and after unlocking, the TVL would gradually diminish to zero, which may be the current state of most projects.
Therefore, when SONIC started, he and the team discussed starting the TVL from zero, presenting it as an organic growth process, which would be better.
He also mentioned a potential challenge of a 200 million airdrop, which involves many considerations. The team's purpose in designing the airdrop is to:
Reward early believers and supporters, aiming to make them wealthy and keep them with SONIC.
After the airdrop, the TVL may decline, and he hopes to retain users through the following points:
SONIC's speed
Experience on SONIC
SONIC's developers are hardworking, and the applications are top-notch
Things on SONIC are cool, with many engaging features
One thing he said that I found very touching is:
The SONIC token is not important; using those cool programs is what matters; the users of SONIC are what matters.
10. About the Ecosystem
AC mentioned many projects within the ecosystem, such as @ShadowOnSonic, @MetropolisDEX, @SiloFinance, @vertexprotocol, @BoomDEX, @magpieprotocol, @eggsonsonic, @SnakeOnSonic, @hubblesonic, @HandofGodSonic, and games, etc. He really understands and confirms that he is a deep user.
Here, I really want to say to many public chain founding teams: Do you understand the projects in your own ecosystem? Have you used these products?
11. About Risks
AC said that many stable things are good now, but he is excited about new things. Of course, this may bring risks, but people are afraid to try anything because of vulnerabilities. However, if we fear vulnerabilities, we cannot drive industry development.
12. Views on Memes
AC said the essence of memes is attention economy, and he presents a dual attitude:
For community coins, he believes they are valuable, rewarding communities that have persisted through difficulties over the years. This aligns with his thoughts on airdrops and is consistent with SONIC's early meme competition initiative.
For meme coins that may disappear in a few weeks, he considers them to be toxic and undesirable.
13. Outlook on SONIC
The team is currently super optimizing for DeFi, including more prototype designs, more new features, and more composability, aiming to ensure that no chain can compete with SONIC in DeFi.
14. AC's Project
At the end, Kyle asked a question that everyone is concerned about: Is there any secret alpha?
AC mentioned that he plans to launch an exchange within the year, one that can compete with @coinbase and @binance, but:
It will be completely decentralized
It will provide as much leverage as possible
It will offer more trading account features after obtaining permission
However, this product will not launch tokens at the beginning. Based on my research on the SONIC ecosystem, this project should be @flyingtulip_.
The video link is as follows:
https://www.youtube.com/watch?v=YU5uZve0kmc
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