TL;DR
With increased interest in the Sonic Network, we’ll keep things moving along with another gem list this week. Since memecoins have been getting decimated the past few weeks. This Sonic Altcoin gems list will focus primarily on working protocols that have an actual product in development. Spending the last few days researching products on Sonic has made it clear that there’s still a lot of room for the network to grow. Giving ample time and opportunity for anyone to benefit from Sonic’s next big move in the market.
As with any gem report. This is not a call to ape. Products and tokens mentioned in this report should be engaged with and tested by the user to ensure the product meets their expectations. No token is ever guaranteed to be an “up only” ticket. So, while the following projects are the best of more than 25 tokens reviewed during this report. You’ll still need to perform your due diligence when deciding if a project on this list is right for you. With no definitive way to ensure the progress of Sonic Network itself, all tokens mentioned below should be taken as speculative-only opportunities.
Beets
We’re starting with what feels like a quintessential part of any network these days: Liquid Staking. As one of the primary use cases for any native gas token. Liquid staking is an important part of any network’s ecosystem. Freeing up capital that can be utilized in other areas while still supporting key protocols is what it’s all about. Currently, that key protocol is Beets. Powered by the Balancer V3 protocol, Beets has access to the security and maximum yields associated with Balancer’s design. By staking S tokens, users receive its LST counterpart, stS (Staked S). Combine these stS with the BEETS token to earn maBEETS and unlock maturity-adjusted voting power.
Previously launched on Fantom and Optimism, the Beets protocol has had some time in the market already. Transitioning from Fantom to Sonic allowed the project to consolidate more users into the Sonic side of the protocol. With audits from both Spearbit and Trail of Bits on record. With the BEETS token currently sitting at just $7.5 million in TVL. There’s close to $5 million in liquidity to support the trading activity of BEETS. Making the BEETS token one of the most liquid altcoins available on Sonic.
HeyAnon
You can’t have an altcoin gem list without mentioning AI. This brings us to the next project, HeyAnon. Built as a DeFi assistant, HeyAnon aggregates information from different sources to provide an all-in-one ai-assisted trading experience. Swap, bridge, and deposit any token directly from the HeyAnon dashboard. This allows for setting up automated trading strategies within HeyAnon. Indicate that you’d like to sell at a specific market cap or buy the dip if the price falls below a certain level for HeyAnon to seamlessly execute that strategy when those triggers are hit.
Assisting HeyAnon with data aggregation is GEMMA. Gemma fills in the blanks for HeyAnon by tracking metrics across various projects, managing inflow and outflow data, and providing up-to-date notifications on changes in TVL. GEMMA can also extract fee information from projects to indicate how solvent and busy it really is.
Utilizing data from Messari to Defillama, GEMMA…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
