Sonic Labs has announced approval of its $150 million proposal to create Sonic USA LLC, aiming to enter the U.S. capital markets.
About Sonic Labs' Proposal
The Sonic Labs initiative valued at $150 million received community support with a 99.99% approval rate. Over 860 million $S tokens participated in the vote.
Significance of Entering the U.S. Market
The creation of Sonic USA LLC will strengthen ties with Wall Street and institutional investors. This involves forming a Delaware LLC and opening an office in New York with a new CEO and business development team.
Strategy and Market Impact
The plan includes issuing new tokens totaling $150 million to fund the ETF and PIPE in the U.S., which is expected to attract institutional buyers. This is anticipated to enhance transparency and custodian standards.
Sonic Labs' initiative is a significant step towards bridging DeFi with traditional finance, which may lead to an increase in token value and enhanced liquidity.
