When Sonic first proposed social networking, there was no precedent other than Open chat, and the proposal was rejected due to numerous concerns. Yes, “to protect the Neuron Fund.”
Since then many SNSs have been submitted and many have been passed, but how do you think those projects that were passed compare to Sonic in terms of credibility?
My personal opinion
My understanding is that Sonic is going to start a new one, SNS-W, which will do for ICP what Synthetix is doing with SNX as collateral to create a variety of synthetic assets. Tokens that could not be handled before, such as stablecoin, can be achieved in the Sonic economy. Depending on how it is done, it may be possible to increase the utility of ckbtc, SNS-1, etc.
Since it is important for these products to increase their pledge, access to SNS funds is more reasonable than before. Also, based on recent examples, products dealing with finance will not only need a one-time Audit, but the cost of regular audits and bounties will also be important.
Since Meme cake they have been working on increasing liquidity and I hope SNS will be something that will allow them to realize their plans.