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Sonic Community Backs $150M Token Issuance for U.S. Expansion and ETF Push
Sonic Community Backs $150M Token Issuance for U.S. Expansion and ETF Push
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BTCCSquare news:
The Sonic community, formerly Fantom blockchain, has overwhelmingly approved a $150 million token issuance to fund a U.S. expansion strategy. The plan includes a $50 million ETF initiative and a $100 million investment program, with 99.99% of votes cast in favor.
The MOVE marks a strategic shift from Sonic's original community-centric tokenomics, which left the foundation with just 3% of tokens at launch. The new issuance aims to enhance competitiveness in a market where blockchains increasingly operate like corporations.
Approved measures include creating a Nasdaq-listed PIPE vehicle and seeding 150 million S tokens for New York-based Sonic USA. The ETF initiative will partner with a regulated provider managing over $10 billion in assets.
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