Sonic Labs 'bridges' Wall Street: 150 million USD for ETF token S at Nasdaq

Sonic Labs – the unit behind the Sonic blockchain (rebranded from #fantom in August 2024) – has just received 99.98% consensus from the community to implement a bold move: issuing 150 million USD token S to establish an ETF fund in the US, invest in Nasdaq PIPE, and form Sonic USA in Delaware.

This move marks a significant turning point, helping Sonic officially access the traditional capital market and opening up opportunities to attract institutional capital flows. With custody backing from BitGo, Sonic commits to legal compliance, building trust for both institutional and individual investors.

In addition to the ETF, #SONIC has undergone a comprehensive overhaul: updating tokenomics, increasing gas fee burn mechanisms to reduce inflation, while also airdropping 200 million tokens (~80 million USD) with NFT vesting mechanisms to protect value.

Experts believe that the ETF and PIPE on Nasdaq will help token $S gain liquidity, credibility, and greater visibility, making Sonic a worthy competitor in the race of Layer-1 connecting TradFi with crypto.

👉 With a 'war chest' of 150 million USD and near-unanimous consensus, Sonic is showing that it is no longer a blockchain solely relying on the community, but is evolving into a true 'blockchain enterprise' – ready to enter the era of global finance. #anhbacong