Sonic updates ETF token allocation plan: executed only when the S price is above $0.5, with an issuance cap of no more than $50 million. Odaily Planet Daily reports that Sonic Labs has announced an update to its ETF token allocation execution plan. Previously, the Sonic community had approved a governance proposal authorizing up to $50 million worth of S tokens for potential US-listed ETFs to facilitate entry into the regulated US market. However, after the proposal was passed, due to the overall market weakening and a significant decline in S price, Sonic Labs decided to postpone execution, during which no related tokens were minted to avoid increasing supply at unfavorable price levels. The announcement states that if the original plan were executed at the current price, more than 600 million S tokens would need to be issued, which significantly deviates from the original intent of the governance proposal. Therefore, this plan will not be adopted. To better align token holder interests, Sonic Labs clarifies new execution constraints: tokens will only be minted for ETF allocation when the S price exceeds $0.5, corresponding to a maximum of 100 million tokens; the total token value is strictly capped at $50 million, and fewer tokens will be issued at higher price levels; any execution deviating from these conditions will not occur. Sonic Labs also emphasizes that S tokens used for the ETF will be locked within the regulated product, will not enter secondary markets, and will not increase market selling pressure. The team states that US-listed ETFs remain a long-term strategic focus, aiming to provide compliant Sonic exposure for institutional investors. Any future adjustments will continue to be communicated clearly and advanced through governance processes.

SONIC2,77%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)