Determined to supercharge liquidity, Sonic Labs officially announced GSR as the designated market maker for its native S token on May 22, betting that fresh muscle will revive its DeFi ambitions.
In a blog post, Sonic Labs said its reason for working with GSR, a crypto capital markets firm, is due to the firm bringing over a decade of experience, regulatory credibility, and a strong reputation for transparency.
This collaboration is not just about trading—it’s about building a sustainable digital asset environment that supports both liquidity and long-term project development, said the firm.
GSR to Support Sonic Labs
While market making is at the core of GSR’s role, its involvement with Sonic Labs will reach far beyond just token liquidity, according to the firm.
GSR will deploy liquidity across Sonic’s entire DeFi stack, offering strategic support to early-stage teams and helping them bring their tokens to market with confidence.
“We support innovative protocols with liquidity, helping founders get tokens market-ready, and encourage sustainable on-chain activity to drive long-term growth,” Head of U.S. Business Development at GSR, Alex Taaffe, said.
This hands-on approach positions GSR not only as a service provider but as a long-term ecosystem partner.
Active Engagement Through Events and Community
GSR’s connection with Sonic goes deeper than platform integration. For example, the firm recently sponsored Sonic Summit 2025, held in Vienna from May 6–8, which brought together builders, investors, and infrastructure leaders from across Web3.
GSR’s sponsorship and presence at the summit showed its commitment to the community side of the ecosystem as well.
Sonic Labs CEO Michael Kong emphasized the importance of such holistic relationships, stating, “We seek partners who are embedded in the network, contribute to DeFi, engage with projects directly, and support global community events. GSR exemplifies this standard.”
Sonic Labs Secures Court-Ordered Multichain Liquidation
This month, the High Court of Singapore approved a winding-up order against Multichain Foundation Ltd following a 2023 security breach that caused over $210 million in user losses.
The order, issued on May 9, 2025, came in response to a petition filed by Sonic Labs, which was among the platforms affected by the hack.
The court appointed Bob Yap Cheng Ghee, Toh Ai Ling, and Tan Yen Chiaw of KPMG Services Pte. Ltd. as joint and several liquidators of the Multichain Foundation.
The liquidators will oversee the company’s dissolution and asset recovery, including compensation claims brought by Sonic Labs and other affected parties.
This legal outcome follows a default judgment issued earlier this year in favor of Sonic Labs, which sought damages for losses incurred during the exploit.
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