Finance/Investment/Tech
Sonic Community Greenlights $150 Million Token Program for U.S. ETF Initiative
Sonic Labs has proposed a $150 million plan to support institutional adoption, including the establishment of a $50 million ETF.
1 min read
Community members of Sonic voted in favor of a significant funding initiative aimed at advancing institutional adoption. This strategy outlines plans for a $50 million ETF and a $100 million investment program, along with the establishment of Sonic USA in New York City.
- Consensus: Community vote garnered 99.99% approval with minimal opposition, indicating strong support for the proposed plans.
- Historical Context: Sonic Labs described this initiative as a necessary shift from its earlier token distribution strategies.
“Sonic Labs pitched the proposal as a necessary break from its ‘2018 tokenomics,’ which involved Fantom giving away most of its supply to the community.”
Translation: Sonic Labs proposed that this new approach is crucial for changing past strategies of distributing the majority of tokens to the community.
