Seamless Web3: Project Vision Update
Throughout the ups and downs of the market, including the most challenging moments of the bear, our team has never lost sight of our vision, and kept building on it.
Even with limited resources, we’ve constantly poured our passion and commitment into developing products that truly can make a difference.
For this reason we couldn’t be more excited to finally share this long-awaited update with you, and we’re eager to reveal them today.
This update is important to us because it clarifies what will brings Sonar closer to our central goal: offering comprehensive solutions that help anyone, from beginners to experts, navigate the Web3 space with ease and delight. Our mission is to solve the accessibility challenges of the Web3 ecosystem, empowering users to unlock its full potential.
In this article, we’ll explore the exciting updates and new features for Sonar Studio 1.0 and Sonar Wallet, and will announce a new game-changing product, our end-game; Sonar Portal.
So let’s dive in and discover what the future of Web3 looks like, together.
Checkpoint; the road behind
Over the past year and a half, our journey truly has been a remarkable one.
We’ve taken our vision from concept and drafts to scrappy proofs of concept, and then refined them into good-enough alphas and ultimately impressive betas.
Along the way, we’ve built the foundation for the various dimensions of our ecosystem’s vision.
Starting with the infrastructure, we’ve continuously expanded our reach by adding new chains, refactoring and optimising our stack to ensure top-tier performance across the board.
Sonar Studio as well has undergone four rounds of design iteration to meet our highest expectations for design, usability, and performance.
And your unwavering patience and support for Sonar Wallet have not gone unnoticed, and we’re thrilled to see the first feedback reflecting the value we strive to deliver.
As we evolve our vision, our core commitment remains the same: to prioritize the user’s benefit above all else.
Design iterations have allowed us to explore different approaches, learn from user feedback, and fine-tune our products to serve you better.
Each iteration brings us closer to realizing our mission of empowering users and making the Web3 space accessible to everyone.
As our community is well aware, Sonar Studio is still in its beta phase, which means we haven’t yet dedicated significant resources towards marketing campaigns or user acquisition efforts.
At this stage, it would be counterproductive to divert attention and resources from core development to focus on driving user growth. Increased user numbers also demand more attention in support, feedback collection, analysis, and action.
However, even if we couldn’t obviously hit record-breaking numbers in this context, by comparing our metrics with established projects in the space, the outlook for Sonar’s inherent potential and value becomes extremely more promising.
By analyzing Sonar Studio’s daily active users (DAU) and market cap in comparison to other decentralized applications, we it’s clear that our market cap is currently lagging behind, but this only underscores the tremendous potential and value that Sonar holds.
On the Wallet side, we recently launched the public Alpha version, inviting the first batch of people from the waitlist to try it out. The response was simply fantastic — within just a day, we already had 150 brand new subscribers join the waitlist. Just yesterday, we opened doors to the next batch of testers, and we plan to continue enabling access to new users week by week.
As we continue to refine and perfect our products, we’re confident that our metrics will reflect the dedication and hard work that our team and community have put into building a truly exceptional Web3 ecosystem.
As we continue to innovate and improve Sonar Studio, we’re excited to announce that we’re currently working on the 0.4 version.
The gem at the core of this update is surely “Trends”; a powerful new app designed to help users spot the best opportunities in the crypto space.
At its core, Trends is simply a collection of top-performing projects ranked by various criteria.
At the top of the page you can find the collections–templates set on special ranking and filtering criteria.
Below the templates, which only surface the top performers, the expanded ranking table gives you a longer list of assets, displaying all available metrics for a deeper comparison of the contenders to the podium.
But aside from Sonar’s trademark superior user experience, what sets Trends apart is the addition of unique criteria beyond the standard market cap, price, and volume change metrics you might find on platforms like CoinMarketCap.
For example, users can rank projects by sentiment based on our proprietary sentiment analysis algorithm. Other ranking criteria include social media activity and audience growth, holders growth, and the number of transactions, among many others. All of this empowers Sonar Studio users with new insights and an edge over the market.
What’s even more exciting for us, and surely for our community, is that we’ve reached a level of confidence in our codebase stability, functionality, and user experience. We’re now ready to tackle the big leap to Sonar Studio 1.0 — skipping a few versions and finally moving out of beta.
A Closer Look: Defining Features of Sonar Studio 1.0
We just can’t wait to share the final set of features that will soon define Sonar Studio 1.0, so let’s get straight to it:
- User Profiles: Enabling full customization of the platform and unlocking a variety of new features, starting with Watchlists, which will be released alongside User Profiles.
- Multi-chain Swap with DEX Aggregator: Already integrated and tested within Sonar Wallet, this feature provides users with the convenience of trading on different chains at the best rates. We’ll also introduce Limit Orders capability for added trading flexibility.
- Modular UI: Offering a fully customizable user interface, this feature allows users to display or hide specific sections to create a personalized experience based on preferences, trading strategy, and skill level.
The 1.0 milestone for Studio is essential not only for platform users but also for our project and all $PING holders — generating revenue and adding further utility to the token, increasing its demand and market valuation.
Revenue from swaps supports our company’s growth and establishment, fueling all our efforts across the board.
Moreover, after the 1.0 release, $PING holders within specific tiers will benefit from reduced gas costs for swaps and will begin to access advanced analytics features. We’ll share more details as we approach the release.
We’re eager for you to experience the power and versatility of Sonar Studio 1.0 as we continue our mission to make Web3 more accessible and user-friendly for everyone.
This March, after months of closed testing without any security issues, we proudly launched the public phase of Wallet Alpha.
In the same month, a truly game-changing event occurred — the launch of the ERC-4337 standard on Ethereum. This development has been on our radar since it was merely a proposal (EIP-4337) as we understood its immense potential for revolutionizing blockchain adoption capabilities.
The introduction of ERC-4337 marks a pivotal moment in the blockchain industry, and its impact on Sonar Wallet cannot be overstated. So let’s delve deeper into what ERC-4337 enables and how it benefits our Sonar Wallet users and the entire crypto space.
The Problem: Blockchain’s User Experience Barrier
The world of blockchain is brimming with potential, but for newcomers, the experience is daunting and complicated.
Signing transactions from an EOA (Externally Owned Account — your common account) is a standard practice for those familiar with the process, but it quickly becomes a real nightmare for those just starting out.
The challenges don’t end there tho. The initial setup is merely the beginning of a user’s concerns when interacting the blockchain with EOAs. Each account relies on a single private key — lose it, and you lose access to your account along with all your assets. Safeguarding your private key, made up of a 12 or 24-word seed phrase, is a delicate and complex task, even for advanced users.
One tiny error could lead to your entire account becoming compromised and irretrievable. This precarious situation creates a substantial roadblock for mass adoption.
In our pursuit to make blockchain more accessible, we must address these user experience barriers head-on and devise solutions that cater to users of all skill levels.
Thankfully, ERC-4337 came to rescue enabling Account Abstraction.
What is Account Abstraction (ERC-4337)
Account abstraction represents the transformation of an EOA into a smart contract, effectively separating the signer from other account components.
By doing so, users no longer need EOAs to perform transactions, providing significant improvements in usability.
These smart contracts not only mimic the primary functionalities of an account — validating and executing transactions — but also offer programming and customization capabilities.
With smart contracts being vastly more flexible than EOAs, they enable numerous innovative use cases through unique rules and configurations.
Unlocking New Possibilities for Users
The adoption of account abstraction (ERC-4337) opens the door to an array of benefits and use cases, including but not limited to:
- Social Login: Seamlessly onboard and manage wallets using familiar web2 standards, streamlining the user experience.
- Social Recovery: Simplify private key management by allowing wallet resets through other entities, such as accounts, hardware wallets, or users.
- Enhanced security: Enables multi-factor validation (e.g., 2FA) and multiple signatures for interacting with specific smart contracts or executing certain operations.
- Session Keys: Authorize a smart contract to perform a set of actions within a specified timeframe. This is especially groundbreaking for web3 gaming.
- Flexible Gas Options: Eliminate the need for users to pay gas for each transaction, enabling them or applications to pay for gas using tokens or fiat currencies.
And that’s just the beginning. Account abstraction promises to revolutionize the way we interact with the blockchain, not just by making it more accessible and user-friendly for everyone, but also by laying the groundwork for new, previously unseen features and use cases.
You can take our word for it.
Looking at the upcoming evolution of our well-known products we clearly see a lot of progress toward our overarching goal: to offer a truly comprehensive solution that can bring you by hand from your path from amateur to expert with continuity and ease.
However, the journey doesn’t end here, and we’ve saved the best for last.
Introducing the Portal: Your All-In-One Crypto Ecosystem
We’ve often hinted at our vision for an all-in-one tool, and now that we’re at an advanced stage in our ecosystem foundation’s development, we’re thrilled to begin giving you a sneak peek behind the curtains.
While Sonar Studio and Sonar Wallet already provide comprehensive solutions within their respective categories, our ambition has always extended beyond that. We call this ambitious project the Portal — a unified space where all parts of our ecosystem come together to offer users a truly unparalleled experience.
Imagine the Portal as the ultimate operating system (OS) for crypto, a specialized browser meticulously crafted for the blockchain world.
This all-encompassing “super-app” merges a secure web3 browser with an integrated multi-chain wallet (Sonar Wallet), further enhanced by default applications to empower users in unlocking the full potential of crypto (Sonar Studio).
What’s even more exciting is that the foundation of the ecosystem is designed to welcome participants from any protocol to integrate within the Portal and interact within the expansive ecosystem.
By connecting users, creators, applications, and service providers through the protocol, this framework enables mutual discovery and exchange among all participants across various marketplaces, such as the App Store, NFT Marketplace, Data Marketplaces, and Logic Marketplaces.
In this way, Portal users can infinitely personalize and expand their web3 experience — just as they do on their computer or smartphone OSs.
Yet, to say this only scratches the surface would be a significant understatement. There’s an ocean of groundbreaking ideas and features that we have yet to unveil and unpack as we sail further into the uncharted waters of our ecosystem’s future.
So, let’s take a moment to let it all sink in — and let’s save the truly thrilling parts for the next article, where we’ll start delving deeper into Portal’s core aspects, its innovations, and the central role of $PING in the economy of our expanded ecosystem’s vision.
Can you handle the excitement? 😎