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How interesting it will be when you can track a certain personal wallet. A friend’s wallet, for example, to see if they’re lying about assets they own. Likewise, if you admire a crypto investor in the market you’d love to take a look at their portfolio, including which tokens to research and learn from. Sonar is a platform to help you do that.
Today, my team and I will learn the details of this Sonar project with you, including the following factors:
- What is sonar? Tokens and this project stand out?
- How can SONAR Tokens be earned?
- How to store and transact SONAR?
- Similar projects with Sonar so that you can evaluate the development potential of this project.
Let’s find out together.
What is sonar?
Sonar is a tool to track the assets of any wallet on Solana. This tool allows you to see the effectiveness of your assets when you take them away Yield Farming and Liquidity Pool or other relevant metrics of a wallet you are interested in.
Sonar offers a solution to a simple problem in the DeFi market: personal asset tracking. Since every time we have to deposit assets for farming or use leverage to borrow capital, such things often have to be done on many different platforms. If you keep checking your account status and switching between so many places, it will take a lot of time and effort.
Highlights of Sonar
Sonar will not only be a dashboard to help track assets in the wallet but will be more than that with the following highlights and highlights:
Effective asset tracking tool
Sonar allows users to closely monitor the data of any wallet when a pull key (simply a wallet address) is obtained. The provided Sonar parameters will include:
- Total value of assets currently in the wallet.
- Existing tokens and specific amount.
- Asset volatility over a period of time.
- The amount of liquidity deposited on the exchanges of the Solana system.
- The parameters related to farming, misc include APY, APR profit ratio indicators.
- Leveraged position in use.
One-stop tool suite
Realizing that users have to switch to the platform when making transactions DEX such as Serum, or the deposit and withdrawal of assets to liquidity pools is complicated and complicated.
Sonar positions itself as a one-stop single page, meaning that all of the above problems will be solved and accessible through Sonar without the need for extra steps.
In addition, you will be able to see the collectibles in your wallet and even mint them NFT quickly.
Detailed information about SONAR Token
SONAR is the official utility token of the Sonar project. The project brings long-term benefits to those staking/holding/using SONAR in the Solana ecosystem.
Key Metrics SONAR
Basic information about the Guild of Guardians:
- Token Name: SONAR Token.
- Ticker: SONAR
- Blockchain: Solana.
- Token Standard: SPL.
- Contract: Updating..
- Token Type: Utility.
- Total Supply: 100,000,000 SONAR.
- Circulating Supply: Updating…
SONAR Token Allocation
A total of 100,000,000 SONAR will be distributed as follows:
- Mining reserves: (40%) – 40,000,000.
- Investors: (20%) – 20,000,000.
- Team: (20%) – 20,000,000.
- Treasury: (10%) – 10,000,000.
- IDO/IEO: (5%) – 5,000,000.
- Marketing (3%) & Airdrops (2%): 5,000,000.
SONAR Token Sale
SONAR will have a public sale in the form of IDO at the end of November 2021. I will update as soon as I have information.
IDO is considered a form of investment that generates high returns, but is playing IDO guaranteed to win 100%? How to invest IDO effectively? Please refer to the following article immediately.
Refer: What is IDO? Is playing IDO really going to win 100%?
SONAR Token Release Schedule
SONAR Token does not specifically announce the token payment schedule. I will update you guys as soon as possible when I have information.
SONAR Token Use Case
SONAR Tokens will have the following utilities:
- Holding SONAR Token will allow you to own more special features from the upcoming PRO version of the project.
- Sonar Token will also be used to reduce transaction fees (in the future).
How to earn and own SONAR Token
To own SONAR token, you can:
- Buy SONAR on CHK Exchange (select Solana).
- Will be rewarded from holding, staking or using in Solana system.
Looking for more information: What is Staking? Staking guide for newbies
SONAR Token exchange & storage wallet
SONAR storage wallet
Because SONAR belongs to Solana’s SPL standard. Should be stored on CHK wallet in the future. My team and I will update you as soon as information is available.
In the future, you will be able to trade SONAR right on CHK Exchange (select CHK Exchange Solana). My team and I will update you as soon as information is available.
Roadmaps & Updates
Sonar’s achievements to date, they have integrated more than 15 protocols and 500 liquidity pools. The project has admitted recently that it has focused too much on integration and the trade-off is that the product has not been improved enough. It is expected that in the near future, more attention will be paid to product development.
A move from the project that I personally feel very confident in the team when researching, thereby showing their enthusiasm and sincerity.
Sonar’s development roadmap in November 2021:
- Specifically, at the end of November, Sonar will launch a Beta version of Sonar Watch V2.0 with new features for users to experience. These include multi-wallet support, viewing more asset chart history, NFT valuation in wallets, temporary loss calculation, and many more.
- Integrated IDO feature right on Sonar.
- Built-in features make it easier to deposit/withdraw assets to liquid pools.
Project team, investors & partners
The project team includes 3 core members, including:
- Olivier: As a DeFi user after seeing that the fees on Ethereum are too high. Later, he discovered and used the Solana system because of the cost on the system. However, “avoiding the melon meets the coconut” when the fee is low leads to him wanting to optimize profits in many places and having trouble tracking assets. He then developed this tool himself and posted it on the Solana forum.
- Guillaume: Is a close friend of Olivier in college and wants to develop a successful project.
- Victor: A person who has been passionate about the crypto market since 2017, and is also a close friend of the two people mentioned above.
Objectively commenting on the project team, the members are all people who do not have too much experience or may have hidden a lot of detailed information. However, the words conveyed on Medium by the team about the things that have and cannot be completed are shared by the team very honestly.
Personally, I consider the project to be built by a very reliable and cohesive team.
Information about the amount of money the project has raised from funding rounds has not been disclosed. The Sonar partners I mentioned next will partially support the project financially like Gen Block or Solana Capital.
Sonar has cooperated and received support with more than 14 project parties including centralized exchanges and funds, details are as follows:
- Serums: As a DEX order-book on the Solana system, Serum is a direct partner in integrating transaction features, supporting Sonar with abundant liquidity.
- Sky Vision Capital: Support the team from the early days and advise on development strategy.
- Gene Block: The Fund’s experience and knowledge in the market will support Sonar in both development strategies and financial aspects.
- MXC/Huubi Global/Gate.io: Support to list tokens on exchanges and the project will also take advantage of the large Chinese crypto community communication to increase awareness to newcomers.
- Parsiq: Will be a technical partner to create new features on Sonar. They will then be integrated into traditional market apps as asset movement alerts. (Similar to the whale alert feature of UniWhale on Telegram).
Above is all the information about Sonar so that you can have more knowledge when learning about the project and have your own opinions. Hope this article will help you readers get more value.
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