Sonic Labs Announces Partnership with Safe to Enhance Security and Simplify Asset Management for All Sonic Builders in the Ecosystem

This agreement is a huge step forward for Sonic because it gives consumers access to a broad range of strong applications right within the Safe platform.

Sonic Labs, formerly known as Fantom, has announced a collaboration with Safe to improve security and simplify asset management for all Sonic builders in the ecosystem.

This agreement is a huge step forward for Sonic because it gives consumers access to a broad range of strong applications right within the Safe platform.

Users will be able to manage their assets, engage with decentralized finance (DeFi) applications, and execute a variety of other functions thanks to this relationship, all in a secure and unified environment.

? You asked. We listened.

We’re excited to partner with @Safe to bring top-notch security and seamless asset management to all #Sonic builders within the ecosystem!

? Sonic users will gain access to a suite of powerful apps directly within Safe. Manage assets, interact with… pic.twitter.com/K9CXW0mrnr

— Sonic Labs (prev. Fantom) (@0xSonicLabs) August 14, 2024

This collaboration also provides a distinct benefit for institutional investors who are active on the Sonic platform.

With this integration, these investors will now be part of the $30 billion in assets that Safe currently administers across a variety of blockchains.

This not only emphasizes the scope of Safe’s operations, but also the enhanced security and efficiency that Sonic consumers may expect from this relationship.

Furthermore, Safe will be installing its Account Abstraction stack, which is designed to improve the user experience by enabling multi-step transactions, enhancing security using proxy wallets, and maximizing gas efficiency via the gas station network.

On the other hand, as CNF previously reported, the Singaporean court has awarded the Fantom Foundation more than $2 million in damages against the Multichain Foundation.

This judicial victory is essential for Fantom, as the foundation attempts to appoint a liquidator to recover and distribute assets impacted by the multichain exploit.

The aim of this action is to ensure that the affected assets are handled appropriately and returned to their rightful owners.

Moreover, as per our prior report, the Fantom Foundation has taken major steps to boost liquidity and accessibility within its ecosystem, by introducing the USDC.e stablecoin on the Wormhole network.

This endeavor is part of Fantom’s overall plan to eventually provide seamless integration with native USDC.

Offering a wide range of functionalities on the Fantom blockchain, including storage, payments, trading, borrowing, and lending, USDC.e aims to empower developers and users within the ecosystem.

This move is set to benefit the Fantom ecosystem by providing users with more options and flexibility.

Meanwhile, the price of Fantom’s native token, FTM, has been performing remarkably well.

At the time of writing, FTM was trading at roughly $0.3874, up 6.20% over the last 24 hours, making it the top gainer among the day’s top performers.

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