RFC8: Deployment of Wagmi Protocol and Products on Sonic Network
Section 1: Summary/Scope
Wagmi DAO proposes the deployment of the Wagmi protocol and its associated products on the Sonic Network. This proposal includes launching the GMI token with the following trading pairs:
• Sonic-Wagmi
• Sonic-USDT
• Sonic-WETH
• WETH-USDT
Additionally, the deployment will include the creation of farms for liquidity providers (LPs) and leverage functionalities to enhance user incentives and platform utility.
As Sonic Network aligns with Wagmi DAO’s goals and vision, and given our successful deployment history on Fantom, this move represents a natural step forward. Deployment will commence as soon as the infrastructure is ready and community approval is secured.
Section 2: Main Objective of the Proposal
Motivation for Proposal:
The deployment on Sonic Network aims to achieve the following objectives:
For Sonic Network:
• Increased liquidity and trading volume through Wagmi’s innovative protocol.
• Enhanced user engagement with the addition of leverage products and farming opportunities.
• Strengthened ecosystem utility and broader market reach.
For Wagmi Protocol:
• Expansion into a new ecosystem aligned with our vision.
• Access to Sonic’s user base and liquidity opportunities.
• Building a collaborative partnership with Sonic Network to foster mutual growth.
Section 3: Contracts/Technical Requirements
• Deployment of the GMI on Sonic Network.
• Creation of liquidity pools for the specified pairs.
• Development of farming contracts for LP incentives.
• Deployment of leverage
• Comprehensive testing to ensure the security and stability of all deployed contracts.
Section 4: Timeline
Expected Deployment Timeline:
• Phase 1: Community Approval
• Proposal discussion and voting by DAO community: 1-2 days.
• Phase 2: Snapshot vote within 1-2 days of discussion
• Phase 3: Deployment
Closing Notes:
This proposal represents a significant step in Wagmi DAO’s growth and its commitment to expanding its reach within the DeFi ecosystem. We invite the DAO community to discuss, refine, and approve this proposal to bring Wagmi to Sonic Network.
Onward and upward!
Wagmi DAO
