Sonic Labs has officially enlisted GSR as the designated market maker for its native S token, signaling a strategic push to strengthen token liquidity and reignite its decentralized finance ambitions.
The announcement, made on May 22, underscores Sonic’s focus on long-term ecosystem growth, not just short-term trading activity. GSR, known for its deep liquidity networks and over 10 years of experience in crypto capital markets, will play a central role in this transformation.
“We’ve partnered with GSR because of their proven track record, regulatory reliability, and shared commitment to transparency,” Sonic Labs said in a blog post.
Beyond Market Making: GSR’s Expansive Role in Sonic Ecosystem
More than just providing liquidity for S token, GSR is set to support the broader Sonic DeFi infrastructure. The firm will collaborate directly with early-stage projects within Sonic’s ecosystem, helping them launch and scale with tailored liquidity strategies.
“We enable innovative protocols to access strategic liquidity from day one—this drives real on-chain activity and lasting project health,” said Alex Taaffe, GSR’s Head of U.S. Business Development.
This makes GSR not just a liquidity provider but a hands-on builder within the network, aligning itself with Sonic’s mission of sustainable development.
GSR Strengthens Ties Through Sonic Summit Sponsorship
Demonstrating a deeper commitment beyond technical support, GSR recently sponsored the Sonic Summit 2025 in Vienna, held from May 6–8. The event gathered leading minds from across the Web3 space, including builders, VCs, and infrastructure firms.
GSR’s active presence at the summit highlighted its involvement in the broader community, helping facilitate conversations that go beyond price charts and order books.
“We value partners who contribute to the full scope of DeFi—protocols, governance, education, and events,” said Michael Kong, CEO of Sonic Labs. “GSR is that kind of partner.”
Sonic Secures Legal Win Against Multichain Following Major Exploit
On the legal front, Sonic Labs also scored a major victory this month. On May 9, the High Court of Singapore granted a winding-up order against Multichain Foundation Ltd, following a massive 2023 breach that cost users over $210 million.
Sonic Labs, one of the victims of the exploit, initiated the legal action. The court appointed three liquidators from KPMG Services Pte. Ltd.—Bob Yap Cheng Ghee, Toh Ai Ling, and Tan Yen Chiaw—to oversee the foundation’s dissolution and asset recovery process.
This outcome follows a prior default judgment in Sonic’s favor, setting the stage for potential compensation as part of the liquidation process.
With the GSR partnership strengthening token liquidity and court victories supporting financial restitution, Sonic Labs appears poised for a stronger DeFi comeback.
