The world of cryptocurrencies evolved rapidly from enthusiast-based technology to a nearly $1.5 trillion industry. Keeping track of all new and trending crypto projects has become an almost impossible task to manage, especially on multiple blockchain networks.
Sonar strives to grant users a dynamic, all-in-one, cryptocurrency analytical ecosystem, which would simplify and accelerate online investments. Trust, transparency, ease of use, and social impact lay at Sonar’s foundation.
The all-in-one crypto tracking platform provides a safe place for users to research, manage, and decide on their current and future crypto investments.
Sonar provides analytics data for both the Ethereum and Binance Smart Chain (BSC) blockchains. The platform enables price and social analytics, as well as contract audits and trading notifications. Furthermore, Sonar’s team plans to launch features like an early investment opportunity system and trade executions directly from Sonar’s platform.
For example, users can generate price feeds from major CEX/DEXs for crypto assets, as well as receive technical indicators and order book information.
The social analytics tool enables users to conduct intelligent AI aggregation from social media sources such as Reddit and Twitter.
At the core of Sonar’s platform is the $PING utility token. The token is already listed on major listing sites like CoinMarketCap. As with other tokens of that type, $PING has a fixed transaction fee. In Sonar’s case, the fee sits at 10%, which guarantees a constant increase of holdings for investors, liquidity, and funding.
However, Sonar decided to split the 10% tax into four categories. Two percent of the fee would be returned as a frictionless redistribution to all Sonar token holders, while three percent of all transaction costs would end up returned to the liquidity pool to protect Sonar holders’ token value and support Sonar’s price stability. Another three percent goes to the Sonar Marketing and Development wallet, while the last 2% of the fee would go into the Sonar Innovation Lab Wallet.
Despite the company operating since early 2021, there has been a lot of cool features that are in development and are planned to become live over the next several months.
For example, Sonar’s roadmap suggests the creation of wrapped $PING which will be tradable on Uniswap. Also, Sonar plans to develop its custom wallet app, as well as listing on major tracking apps like Blockfolio, decentralized exchanges, and Tier 1 centralized exchanges.
Sonar is currently undergoing rigorous audits by Techrate and afterward will be audited by CertiK.