The Sonic Community approved $ 150m token release for US ETF Push, Nasdaq Vehicle
Members of the Sonic community, the rebranded fantom blockchain, approved a huge stakes on the adoption of the institution with a vote to fund a US expansion approach including creating a $ 50 million ETF initiative, a $ 100 million investment program and creating a company registered in Delaware.
The vote found the support from 99.99% of participants. The community denied the alternative choice of “no change” that was almost united, with only 51,200 votes against the plan and 860.6 million in favor.
Sonic Labs have set up a proposal as a necessary break from the “2018 tokenomics,” involved in the Fantom Foundation that provides most of its supply to the community. That structure left the foundation holding only 3% of the launch tokens, compared to 50% -90% held by peers.
While the community-friendly, the team argued that it hated the ability to fund lists on crypto exchanges, acquisitions and partnerships. The new release is designed to close that space and make a sonic competitive in a market where blockchains are acting more like companies.
In addition to the ETF initiative, the vote allows private investment in a public justice (Pipe) Vehicle in Nasdaq, and the seeding of 150 million tokens for Sonic USA, based in New York City. S is created as part of Rebranding last year’s rebraning.
The ETF plan will involve a regulated provider with more than $ 10 billion in possessions under management, with a careful bite handle. The pipe vehicle is aimed at seaing the balance listed in the NASDAQ with a sheet with sheets with tokens locked for at least three years in exchange for strategic ark purchases.
At the network level, the fees will also be redirected under a modified mechanism to burn more tokens and reduce inflation – a nod to token holders for deflationary pressure.
If these moves are translated into real adoption remains, but Sonic now has the same mandate and chest of war to compete directly with the ETF and traditional financial arena.
