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Sonic Labs community approved a $150M plan to expand into U.S. capital markets.
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The firm will launch a Nasdaq PIPE and explore an ETF with a top-tier partner.
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Tokenomics will be updated to make the S token more deflationary.
Details of the Proposal
Sonic Labs, a blockchain firm previously known as Fantom Foundation, secured overwhelming community approval for a governance proposal that sets aside $150 million worth of its S tokens for U.S. expansion. Nearly 100% of votes supported the initiative, reflecting strong alignment between leadership and token holders.
ETF and Nasdaq Push
The plan involves two major moves: partnering with an ETF provider to create a regulated product tracking the S token, and launching a $100 million private investment in public equity (PIPE) tied to a Nasdaq-listed vehicle. The PIPE would establish a strategic reserve to purchase S tokens, locked for at least three years, boosting the asset’s credibility in traditional finance circles.
Sonic USA and Compliance
Sonic Labs also confirmed the creation of Sonic USA LLC, a Delaware-based entity that will handle regulatory compliance and strategic partnerships. An additional 150 million tokens will be allocated to fund its operations, separate from the $150 million earmarked for the ETF and PIPE initiatives.
Deflationary Tokenomics
To complement the U.S. push, Sonic Labs will update its tokenomics, adjusting gas fee distribution to burn more tokens, making S more deflationary. As of now, the cryptocurrency is valued at $0.31 with a market cap of nearly $900 million.
