Hassan Maishera
On Monday, Aave Labs announced via X that Aave has launched on Sonic Labs, previously known as Fantom. Users can now borrow, supply, and earn incentives. The initial list of assets for the Sonic market includes WETH, USDC.e, and wS.
This integration was deployed by bgdlabs on behalf of Aave DAO, with risk analysis completed by Chaos Labs and LlamaRisk. Chainlink will provide secure and reliable price feeds.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $176.27 per token, down 18% in the last 24 hours.
Sonic (previously Fantom) is building a programmable platform on a directed acyclic-graph-based distributed ledger. Its S coin is down 24% in the last 24 hours and is currently trading at $0.5441.
