Sonic Labs terminates its five-year exclusive market making partnership with Wintermute and switches to supporting the DeFi ecosystem's MM++solution

Sonic Assistant, the strategic director of Sonic Labs, stated that the team has officially notified Wintermute 24 hours ago that they will not renew the cooperation agreement and end their five-year exclusive market making partnership. Sonic will collaborate with new market makers who are more actively involved in the DeFi ecosystem, community building, and team communication. Wintermute subsequently sold approximately $857000 worth of S tokens, suspected to be a return of the previous $16 million loan inventory.