Sonne Finance is a decentralized, non-custodial lending protocol designed for both individuals and institutions. It operates on the Optimism network, enabling users to deposit their assets, leverage them as collateral, and conduct borrowing activities. The platform aims to offer open-source financial services to a broad range of users.
However, caution is advised as Sonne Finance has recently been exploited. Their website currently displays a clear warning urging users to refrain from interacting with the platform until further notice. This raises important questions about the security and reliability of Sonne Finance.
For the average crypto user, the intention of the platform appears straightforward: it aims to facilitate decentralized lending and financial interactions without the need for traditional banking structures. Users can engage with various market functionalities such as supplying assets at a specified annual percentage yield (APY) and borrowing against those assets. Nevertheless, the recent warnings should give any potential user pause.
In summary, while Sonne Finance presents an innovative Decentralized Finance (DeFi) solution, the stark warning against its usage following a security exploit cannot be ignored. Before engaging with such platforms, thorough research and caution are paramount to avoid financial loss.