Memecoins on Soneium Blockchain Frozen

Immediately after launching the blockchain #Soneium on Tuesday, Sony sparked outrage among the memecoin investor community by freezing two tokens Aibo and Toro, resulting in thousands of dollars in losses for those who had invested.

According to data from Blockscout, both tokens are currently listed as "Banned", with no transactions displayed.

Sony stated that this freezing action aims to protect the company's intellectual property (IP):

"Measures are taken to protect the interests of IP owners," a representative from Sony Block Solutions Labs (Sony BSL) declared.

  • Aibo: This token is inspired by Sony's famous robotic dog series and once reached a market value of 2.7 million USD before being frozen.

  • Toro: This token is related to the character Toro Inoue, the mascot of Sony Interactive Entertainment, with a peak value of 1.1 million USD.

This move is considered unusual compared to popular blockchains like $SOL , where the use of copyrighted material in memecoins is often overlooked.

Community Reaction: Allegations of "Rug Pull"

Many investors have criticized Sony on #discord of Soneium, accusing the company of "rug pull" – a term referring to actions that cause token prices to plummet for personal gain or shocking decisions.

  • With Soneium being a centralized blockchain, Sony BSL retains control over the entire system, including the ability to freeze any tokens. This contrasts with the decentralization found on other blockchains, where similar decisions are much harder to implement.

Soneium: Mission and Controversy

Soneium is a Layer 2 blockchain on the $ETH platform, aimed by Sony to:

  • Protecting the creative rights and content of creators.

  • Building a fair profit-sharing mechanism.

However, the move to freeze memecoins has disappointed many DeFi users, especially those familiar with the openness of other blockchains.

Future Solutions

In response to the strong backlash, Sony BSL stated that it will implement a time extension mechanism for transaction blocking decisions. Developers will be:

  1. Warning in advance.

  2. Provide clear reasons.

  3. There is an opportunity to adjust to comply with regulations before the banning action is enforced.

The Future of Soneium

Despite the controversy, Sony still believes that the Soneium blockchain will continue to grow:

"We do not anticipate that this issue will affect the development of Soneium."

Conclusion
This incident is not only a warning about copyright issues on the blockchain but also highlights the potential risks when investing in centralized ecosystems. Investors should be cautious before placing trust in new blockchain projects like Soneium.

(Note: The content of this article is for informational purposes only and should not be considered investment advice.) #anhbacong