Sonic Labs has announced approval from its community to issue $200 million in S tokens targeted at entering U.S. capital markets. The proposal received backing from 99.99% of Sonic token holders.
Sonic Expands into Traditional Finance
The company plans to allocate $100 million from the issuance to build a strategic reserve for a PIPE (Private Investment in Public Equity) vehicle and $50 million towards an S token-tracking ETP. The ETP will be issued by a leading ETF provider.
From Old Tokenomics to New Ambitions
Sonic Chain, rebranded from the Fantom Opera network in December 2024, is reshaping its economic model. The project faces a shortage in its token reserves, limiting its strategic flexibility. The necessity for the latest issuance is framed as a shift towards more modern tokenomics.
Community Support and Next Steps
With 99.99% of token holders backing the proposal from 105 wallets, this demonstrates near-unanimous support. Additionally, the formation of Sonic USA LLC and the appointment of a CEO to lead financial partnerships are planned.
Sonic Labs aims to forge connections in traditional finance while transitioning to new tokenomics and expanding its presence in the U.S.
