The first version of the new DEX, named Sonic, was released on Sunday. Michael Less, Head of Communications at Dfinity, told Cointelegraph that the company plans Sonic to become the true example of decentralized finance (DeFi). Sonic can complete a transaction process in less than 1 second and runs perfectly on the IC’s public blockchain network with no gas charges. He stated that “it is completely running on a public blockchain, where it cannot be shut down — you can’t shut it down, it runs perpetually.” He further explains that the current main focus is future integration with Ethereum into Sonic in the third quarter of this year.
There are already plans for Sonic V2 to add token launch pads, Decentralized Autonomy (DAO) tools, and its own native SONIC governance tokens. The release date of Sonic V2 is not decided yet. According to information available on Cointelegraph, there are at least two DEXs, such as Infinity Swap and ICP Swap, that will join Sonic on the IC “in the coming weeks”. Internet Computer (IC) is a public blockchain and protocol aimed at running a truly decentralized internet by allowing developers to install smart contracts and decentralized applications (DApps) directly on the blockchain.
The new white paper, The Internet Computer for Geeks, published on January 21 goes back to the basics. It explains the basics of how ICs can use smart contracts to enhance the new Web 3.0 decentralized ecosystem.
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