Sonic Labs Secures Approval for U.S. Market Expansion Plan
Sonic Labs, known for its high-performance Layer-1 blockchain, has gained widespread community backing for an ambitious governance proposal. The plan outlines a $150M token issuance aimed at boosting its presence in the U.S.
The proposal, which passed on August 31st, involves launching a U.S.-registered ETF, a partnership with NASDAQ’s PIPE, and setting up Sonic USA LLC. The ETF will receive $50M,while $100M will fund the PIPE deal. The remaining allocation supports establishing Sonic USA in New York.
- $150M new token issuance
- $50M for U.S. ETF
- $100M for NASDAQ PIPE
- Launch of Sonic USA LLC in New York
A community-driven vote, exceeding the 700 million S tokens needed for a quorum, ensured a near-unanimous decision at 99.99% approval.This success authorizes a phased approach towards Sonic’s integration into U.S. financial markets.
The move also addresses ongoing concerns surrounding sonic’s previous blockchain roots. Initially,Fantom,Sonic’s predecessor,struggled with limited treasury options.Now, enhanced tokenomics bolstered by aggressive burn mechanisms aim too prevent token dilution and foster lasting growth.
Collaborations with leading ETF providers and custodial services like BitGo are expected to streamline Sonic’s entry into regulated investment arenas. With an experienced U.S.-based CEO steering operations, Sonic aims to bridge conventional and decentralized finance, paving the way for mainstream institutional adoption.
