Sonic Labs launched US Sonic Dollar (USSD) on March 12 as the core liquidity layer. This stablecoin is built on Frax Finance's compliant infrastructure and supported by multiple institutions. It is pegged 1:1 to the US dollar and aims to enhance ecosystem yields while supporting cross-chain fee-free minting and flexible redemption.

Sonic Labs launched its native USD stablecoin USSD on March 9, based on Frax infrastructure, supporting cross-chain minting. Its reserve assets are backed 1:1 by USD assets. Users can mint without fees through non-custodial smart contracts, with the proceeds used to support ecosystem incentives.

On January 19th, the crypto market generally declined, with the GameFi sector leading the drop at 8.58%. BTC fell below $93,000, and ETH dropped below $3,200. Some individual stocks like FRAX and RIVER, however, rose against the trend.

Gate News Bot message, January 04, according to CoinMarketCap data, as of press time, CVX (Convex Finance) is trading at $2.43, up 40.79% in the past 24 hours, with a high of $2.62 and a low of $1.55. The 24-hour trading volume reached $97.7 million. The current market capitalization is approximately $240 million, an increase of $6.96 million from yesterday. Convex is a liquidity staking and yield optimization platform that provides enhanced returns for liquidity providers of protocols such as Curve, Frax, and f(x) Protocol. Users can deposit LP tokens into Convex to receive automated rewards with group bonuses. The platform's total locked value currently stands at $1.11 billion. CVX token holders can lock tokens to participate in governance and support the platform.