Sonic Labs Ends Wintermute Partnership, Seeking New Market Maker for Decentralized Ecosystem Growth

Sonic Labs has terminated its five-year relationship with market maker Wintermute. The platform is now searching for a new market maker that can support its expanding on-chain activity and DeFi ecosystem. 5 years of service came to an abrupt end, with Sonic Labs citing the need for a market maker capable of reflecting the platform’s record-breaking liquidity and DeFi engagement. A subsequent sales event by Wintermute led to a price drop of the native S token. This move followed a previous announcement of discontinuing the partnership, which has since been met with skepticism regarding the timing and execution.