Sonar’s Product Vision — Revealed
After 3 years preparing the foundations for the years to come, we are finally ready to reveal the entire vision behind Sonar. A vision that is built upon our mission statement:
To build a world without financial barriers: Borderless Finance
Since our inception in 2021, our core aim was to empower users with the capacity to bank themselves: “Banking the Unbanked”. We seek to facilitate an easy and seamless Crypto and Web3 experience through our ecosystem with a target to provide millions of users the opportunity to take full control of their digital financial futures.
How will we achieve Borderless Finance?
Sonar´s focus is to facilitate mass adoption through our drive to unify the Web3 experience; one specifically designed with a deeply functional yet refined aesthetic. Through unifying DeFi and CeFi (UniFi™), we provide the first gateway to Borderless Finance.
Our roadmap comprises of 3 main phases:
Phase 1: Sonar Studio — “DeFi Made Easy”
The DeFi user’s journey starts with Sonar Studio: a killer application which guides the user through all the necessary tools needed to interact with DeFi, be it learning, aggregated news, fiat to crypto, swapping, bridging and managing assets and portfolios. Studio is natively multilingual, chain agnostic, and includes a built-in companion, our non-custodial, multichain Sonar Wallet. Powered by our own proprietary data indexer, Sonar Studio and Sonar Wallet serves the user with accurate, fast, and reliable transactional on-chain data throughout DeFi.
Studio provides every foundational tool needed to execute a DeFi user’s primary cryptocurrency workflow.
Phase 2: Sonar Terminal — Unified Finance a.k.a UniFi™
The next phase focuses on the unification of the DeFi and CeFi experience into a new paradigm called Universal Finance (UniFi™).
Sonar Studio evolves into Sonar Terminal, the first ever UniFi™ platform, which includes multi-cex analytics, trading tools, aggregated CeFi and DeFi portfolio analytics and much more.
Sonar Terminal eliminates the need to manage CeFi and DeFi portfolios and trade flow on separate and individual centralised and decentralised exchange platforms. For example, a user with assets on Binance, ByBit, and Coinbase centralised exchanges along with assets on ERC-20 and Solana decentralised blockchains can analyse, track, and manage all of these assets (e.g. spot, perpetuals, swapping, bridging, consolidation, quantitative and qualitative analysis, technical analysis, etc.) within one platform: Sonar Terminal.
Phase 3: Sonar Portal — “Your Home for Web3”
We complete our journey with the integration of a dApp store and personalisation of the platform, which transforms Sonar Terminal into Sonar Portal, the home for web3. The main point of difference found within the Sonar Portal dApp store is that the dApps are functionally integrated within the Sonar ecosystem. No longer does a user search a “dApp store”, click on a dApp, at which point the user is directed to an off-site application. Within Sonar Portal, dApps are fully functional within the platform.
Sonar Portal is built in a highly-composable nature which provides projects, communities, and 3rd party developers the ability to greatly enhance the functionality and user access for their dApp. At the same time, the Portal’s structure grants users full control over their web3 environment by allowing them to fully customise their experience, enhanced with an AI co-pilot, and empowered with the inclusion of industry-leading SocialFi networking tools.
In the end, no matter who, what, where, when, why, or how a blockchain financial opportunity arises, through Sonar Portal, any user can participate. This is true Borderless Finance.
Powered by the PING token
As a utility token, PING value correlates to its actual demand in the market, whereby such demand is created by its actual utility.
PING has multiple use cases as it is the native token of the entire platform:
Ecosystem Payment Token for all user interactions and transactions.
Users are incentivized to hold or stake PING to unlock progressive tiers, which provide access to advanced features as well as discounts for all Sonar products and services on the platform and user rewards or multi-asset staking (via Sonar partnerships) reward programs.
Platform contributors will be rewarded for actions that add value, foster growth, and maintain the quality of all services provided.
Business users will use PING to access premium API endpoints and development tools, and PING will serve as the native token for the Sonar dApp store.
PING token value is generally broken down into two main categories: transaction value and holder incentives.
Transactional Value
PING is the payment vehicle for:
- Transaction based functions
- Use of premium features in native dApps
- Enabling a revenue model for web3 SaaS via pay-per-use or time-based micropayments, providing instant revenue for dApp Store publishers
Holding/Staking Incentives
Staking options provide users with the opportunity to generate passive rewards with PING tokens. Staking rewards may include, but are not limited to, additional PING token rewards, promotional tokens from partners, holder-only partner quests/airdops, etc.
PING holders are ranked in a Tier System, which, depending on the size of their PING token holdings, grants users exclusive benefits such as:
- Early access to partner ICOs and NFT launches
- Participation rights in DAO-based activities
- Discounts on paid services (transactions, gas-based features, subscription, etc..)
Increased data allowances for services - Free access to advanced platform features
