The SOON fund announces a plan to adjust governance and reduce supply by 3% to restore market trust and stabilize prices.

Details include burning 30 million SOON Tokens, organizing a transparent AMA event, developing an on-chain Token buyback product, and implementing a Token governance system.

MAIN CONTENT

  • A total of 3% of the supply, equivalent to 30 million SOON Tokens, will be burned to reduce supply pressure and stabilize prices.

  • Organize an AMA with the founder and marketing director to explain the recovery plan and enhance transparency.

  • Develop an on-chain Token buyback product and launch the $SOON governance system.

What measures does SOON Foundation propose to restore market trust?

The SOON fund has announced a summary of measures aimed at enhancing transparency and strengthening investor trust amid strong market volatility.

After recent price manipulation incidents, they have proposed a comprehensive plan including Token burns, organizing interactive AMA events, and developing mechanisms for regular Token buybacks.

“We are committed to reducing supply and maintaining community consensus through open governance plans, helping to restore long-term stability for SOON.”

Joanna, Founder of SOON Foundation – July 2024

What does the plan to burn SOON Tokens include?

SOON Foundation plans to burn 3% of the total supply, equivalent to 30 million Tokens, as a direct measure to reduce monetary supply pressure in the market.

Specifically, 7.7 million SOON Tokens that have not been claimed will be burned in the coming days, accounting for 0.77% of the total supply. The remaining 22.3 million Tokens will be bought back from centralized exchanges and then burned to ensure a controlled reduction in supply.

“The Token burn is a strategic move to maintain stable prices in the face of market volatility.”

Henry, Marketing Director of SOON Foundation – July 2024

What will the AMA event cover and why is it necessary?

An AMA on Twitter is organized for the founder and marketing director to directly explain the recovery plan and answer community questions.

This activity aims to enhance transparency with investors, strengthen trust, and maintain a good relationship between the fund and the user platform.

Why is the SOON fund developing an on-chain Token buyback product?

The development team is building an on-chain Token buyback product to help the fund directly purchase from Holders, sustainably and transparently reducing the circulating supply.

This is an effective market support mechanism that maintains liquidity while controlling the amount of Tokens in the market, expected to strengthen long-term value.

What role does the $SOON governance product play in the future?

SOON Foundation is preparing to launch the $SOON governance system to allocate funds, upgrade protocols, and provide funding for the ecosystem.

This system helps the community participate in deciding the development steps, increasing credibility and commitment towards sustainable development.

Summary table of recovery measures from the SOON Foundation

Measures Purpose Details Token Burn 3% Reduce supply, stabilize price 30 million Tokens burned, including 7.7 million unclaimed Tokens and 22.3 million bought back from centralized exchanges AMA on Twitter Enhance transparency, answer questions Founder Joanna and Marketing Director Henry present to answer Develop on-chain Token buyback product Efficient supply management, price support Directly buy back Tokens from users, sustainably reduce circulation Launch the $SOON governance system Involve the community in governance Fund management, protocol upgrades, ecosystem project support

Frequently asked questions about the SOON Foundation's plans

When will the SOON Token burn plan be implemented? The Token burn plan will be executed in the next few days after the announcement, ensuring a rapid reduction in supply. What is the main content of the AMA event? The AMA will explain in detail the recovery plan and answer community questions next week on Twitter. How does the on-chain Token buyback product work? The product allows the fund to directly buy back Tokens from users via the chain, reducing circulation and increasing liquidity. What features does the $SOON governance system include? It allows Token holders to participate in deciding fund allocation, protocol upgrades, and project support. How does the Token burn affect the SOON price? Reducing supply helps limit selling pressure, supports stability, and increases Token value in the long term.

Source: https://tintucbitcoin.com/soon-cong-bo-ke-hoach-tieu-huy-token/

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