Introducing scUSD and scETH: A New Era of DeFi on Sonic

At Veda, we are thrilled to announce the launch of scUSD and scETH, groundbreaking tokens designed to redefine how we approach assets in the DeFi ecosystem. Accessible via the Rings protocol, a collaboration with Veda, Paladin and Tholgar, and inspired by innovations such as Blast’s bridge capital efficiency and Solidly’s ve(3,3) model, these assets are set to become the foundation of Sonic DeFi.

What Makes scUSD and scETH Unique?

Native Yield: scUSD and scETH offer competitive, curated yields for stakers.

Deep Liquidity for Sonic DeFi: By becoming the primary medium of exchange on Sonic, these tokens can have broad DeFi utility across the ecosystem.

Liquidity Incentives: Through their innovative locking mechanisms, scAssets empower the community to allocate yield to active projects on Sonic, ensuring a thriving ecosystem.

Built on Veda BoringVaults

All assets deposited into scUSD and scETH are routed through our BoringVaults, a battle-tested solution securing approximately $3 billion across protocols like ether.fi and Lombard. This infrastructure ensures safety, transparency, and efficient yield generation.

Collateral Vaults

When users mint scUSD or scETH, their collateral is deposited into a BoringVault on Ethereum. These assets are then allocated to blue-chip strategies that meet stringent risk criteria:

• Fully audited protocols.

• Internal security due diligence.

• Minimum $100M protocol TVL.

• At least six months of deployment history.

• Direct redeemability or equivalent mechanisms.

• Allocation limits to avoid over-concentration.

This rigorous approach ensures user assets are secure while generating sustainable yield.

Staking Vaults

For users who prefer a hands-off approach, scAssets can be deposited into a Staking Vault on Sonic. These vaults provide:

• Access to curated, whitelisted strategies.

• An average yield reflecting Sonic’s base rate.

Staking scUSD and scETH simplifies the process of earning yield, making DeFi more accessible than ever.

Unlocking the Power of Locking

Stakers can lock their scAssets for up to 52 weeks, receiving a veNFT in return. This mechanism provides:

• Control over yield allocation from Collateral Vaults via weekly voting on whitelisted gauges.

• Opportunities for projects to secure funding by incentivizing votes.

• Exposure to the broader Sonic ecosystem through token rewards.

By integrating this locking mechanism, scUSD and scETH encourage active community participation and long-term alignment.

Rings Points: Supercharging Adoption

To bootstrap adoption, the Rings Points Campaign rewards users for minting, staking, and locking scAssets. Points earned can later be redeemed for S, Sonic’s native token. Key highlights:

• 1 point per scUSD or scETH per day.

• 2x multiplier for staked assets.

• 3x multiplier for locked assets.

• A 25-week campaign culminating in exciting redemption opportunities.

These incentives make scUSD and scETH not only practical but also rewarding for early adopters.

A Secure and Transparent Foundation

Veda’s mission is to bring transparent and accessible yields to DeFi. With scUSD and scETH, we’re delivering on that promise. By leveraging the proven security of BoringVaults and applying rigorous due diligence, we’re setting a new standard for tokens.

With the launch of scUSD and scETH, Veda is taking another step toward making DeFi easy, transparent, and secure. Join us in shaping the future of DeFi.