Sonic became the first decentralized exchange (DEX) on the Internet Computer network. This was announced by the non-profit organization DFINITY Foundation, which is behind the development of the project. Initially, DEX provided support for the ICP tokens, Wrapped ICP (WICP) and Cycles Token (XTC) of the "internet computer" ecosystem, as well as a liquidity pool for the WICP/XTC pair.
According to the statement, the platform uses an automatic market maker (AMM) mechanism. Thanks to Internet Computer technologies, it does not require gas for exchange. Users only pay a 0.3% fee for the swap to liquidity providers.
The exchange team assured that the limited set of tokens is a temporary measure. Users will be able to import into the network any asset that complies with the DIP20 standard.
According to the statement, the platform uses an automatic market maker (AMM) mechanism. Thanks to Internet Computer technologies, it does not require gas for exchange. Users only pay a 0.3% fee for the swap to liquidity providers.
The exchange team assured that the limited set of tokens is a temporary measure. Users will be able to import into the network any asset that complies with the DIP20 standard.