Monthly Progress Update: May 2022

Sonar Official
4 min readJun 2, 2022

We have been quiet for too long Sonarians…

Hello all, and welcome to the next phase in the growth of Sonar. Since the beginning of the year, we have experienced a time of intense development and an info-dark environment. Times have been challenging indeed in the market and we have seen great volatility across the board. Even some of the most esteemed and trusted protocols have seen shocking disintegrations and hardships as the world of DeFi has been tested to its limits. To survive and thrive in this space, it takes control of ones emotions, and a coherent plan that one may stick to when it comes to investing strategies.

PING has also seen it’s own share of tests and trials and holders have redistributed tokens in significant amounts. But behind the scenes our team continues to grow, and further define and execute the Sonar vision. These months in darkness have not been for naught, and we are excited to announce the beginnings of our next phase of publicity and bringing our marketing and communication channels back online as our products continue to deliver to market. We are now at a point where we can begin giving detailed monthly progress updates about what has been done, and what is still on the horizon. So, let’s have at it!

  • We released our Public version of our Pitch Deck, while not as in-depth as our investor Deck, it offers a view into our long term vision, market strategy and positioning, products under development, and potential revenue streams. Check it out HERE.
  • Successfully launched our PING claim PORTAL.

The claim portal was a necessary final step to conclude our smart contract RFI adjustments in order to lower gas fees for all trades. Our CFO Michael explains the process in detail in this VIDEO. Some holders subsequently experienced a temporary reflection recall which was remedied with the introduction of the claim portal. If you still have not checked the portal to see if you wallet is eligible for any tokens to claim, please do so!

  • The Sonar Wallet is nearing the end of the Alpha testing state and the browser version will soon be in Beta and slated for a public release in the coming weeks. Currently, the wallet supports BSC, Ethereum, and Polygon networks as well as token swaps. Near Protocol is currently in progress of being integrated for full functionality with the network. Other than the official Near wallet, Sonar Wallet will be one of the few DeFi wallets on the market that supports the blockchain. While a great first step, the integration will mark only the first of many collaborations between Sonar and Near Protocol. More details to come on this in the very Near future.
  • Sonar Academy Beta nears completion and imminent release. The Academy Beta will release with the first version of the UI, 20+ articles, educational videos, and other content. It will be an ever growing library of information and eventually will comprehensively include every topic relevant to blockchain and crypto. Sonar Academy will be a community hub, and eventually feature ecosystem incentives such as badges and NFT’s to interact with the content.
  • Updated Sonar Telegram Pricing Bot. A competitive offering to other comparable products on the market but with some unique Sonar twists.

More details can be shared about the improved pricing bot closer to release. Also in the testing stages, a release is slated in the coming weeks ahead. The pricing bot will serve as an exposure vector and a potential advert funnel.

True to Sonar design ethos, the bot will be highly customizable with options of which token metrics to display.

  • Last, but certainly not least is the progress made on the upcoming Platform 0.3 release. Tentative release target is on or near our 1 year birthday on June 18th 2022. As final adjustments and preparations are made, we may adjust the release timeline forward or back as needed. 0.3 will feature a complete Token Studio redesign and an overhaul to the entire ecosystem. The first version of our Blockchain Data Indexing Solution is also in an advanced testing stage and will soon be integrated in the Platform. Like the other Sonar ecosystem offerings, the initial release of the indexing solution will be continually upgraded and improved. Sonar will be positioned to offer a strong B2B service and API endpoint for this valuable and accurate blockchain data. Currently we are performing competitor analysis, commercial facing research, and designing of the revenue stream it will offer the company.

As we can share these exciting details above, know that there is MUCH more still hidden from view. Sonar’s social media presence and marketing efforts are in the process of a deep overhaul and preparing for a resurgence to once again saturate the space with knowledge and excitement of our ecosystem solutions. The Beating Heart of All Blockchains beats ever louder. Welcome to the newest phase of Sonar’s growth, we are confident it will all have been worth the wait.

The Sonar Team