Sonar grew from a small group of 200 traders and crypto currency enthusiasts that set up a telegram group to jointly learn and support each other, to safely navigate the Web3 space.
That same group grew quickly to +17,000 members all looking at how to solve the problems with web3 and realising that a more advanced solution was needed.
This need, driven by broadminded curiosity and combined with cutting-edge technology and the desire to propel an industry formed the roots for Sonar and gave birth to the first layer-3 ecosystem for decentralised finance, which eliminates all barriers to mass adoption through our product suite.
Obviously nobody could have predicted that 2022 would be marred by war, recession, inflation, and the collapse of crypto giants (like FTX and LUNA) and later followed by banks collapsing and the SEC challenges in regulating cryptocurrency.
None of this deterred Sonar however, and while such harsh times might be painful, they also present us with incredible opportunities. Each aspect of life is governed by a cyclical nature, and the financial world is no different. After all, “Millionaires are born in bears and made in bulls.”
So Sonar continued in stealth mode, focussed on building solutions and foregoing any marketing; keeping our community updated but not reaching out to the rest of the world. We build and released Sonar Studio in August 22, our proprietary indexing in October ’22 and our Sonar Wallet in December of the same year. Putting in place all of the cornerstones of our platform, supported by real-time, on chain data that feeds all major aspects of our platform.
As with all things, concepts evolve over time, as we were building out our vision, we made adjustments to cater to market dynamics, shifting perceptions, and real world events taking place during the past two years.
This has created a better understanding of the future needs of our space and has led to better defined vision:
All while maintaining our core vision of bringing to life a fair, decentralised internet, helping people of any background, ethnicity or education gain access to decentralised finance and introduce them to the possibilities that DeFi can bring for their financial future.
With our upcoming move to Arbitrum and the completion of our official V1 release around the corner we are well set for the next changes in market dynamics and to start onboarding the next waves of cryptocurrency adopters.
How the smartphone transformed telecommunications, Sonar will transform the digital economy.
It is a smart wallet, it is a smart portfolio, it is a smart assistant.
It is Sonar.