🍿 #S Andre Cronje said Sonic plan to launch a crypto exchange within a year that will "compete with Coinbase and Binance." They also plan to launch a "smart wallet".
Andre Cronje has also stated that he will not partner with any venture capitalist fund. Believes that large market makers, large funds or venture capitalists have no loyalty.
Andre Cronje has also stated that he will not partner with any venture capitalist fund. Believes that large market makers, large funds or venture capitalists have no loyalty.
🍿 #S Andre Cronje: Sonic is working on realizing a revenue-generating stablecoin with an annual percentage rate (APR) of up to 23%.
🕵️ A wallet likely owned by Sonic transferred 11.78 million #S (~$5.55 million) to Binance.
🆕 #S Coinbase added the cryptocurrency Sonic to its asset roadmap. Sonic's market capitalization: 1032 million dollars.
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📊 #S Sonic Labs announced a shift from a gas-fee–centric Layer 1 value-capture model to a vertically integrated strategy. The team plans to build or acquire core applications and financial primitives to internalize key economic activity and direct trading fees, protocol income, and application revenues to the S token.
They stated that transaction fees alone are insufficient for sustainable value capture amid blockspace oversupply and ongoing fee compression. Sonic aims to deploy integrated products across trading, lending, payments, and settlement, leveraging Fee Monetization to recycle gas fees for user onboarding and micro-CAC, while phasing out airdrops and low-efficiency incentives. Future S token buybacks will be funded by protocol-generated revenue rather than treasury drawdowns. link
They stated that transaction fees alone are insufficient for sustainable value capture amid blockspace oversupply and ongoing fee compression. Sonic aims to deploy integrated products across trading, lending, payments, and settlement, leveraging Fee Monetization to recycle gas fees for user onboarding and micro-CAC, while phasing out airdrops and low-efficiency incentives. Future S token buybacks will be funded by protocol-generated revenue rather than treasury drawdowns. link
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Sonic (@SonicLabs) on X
Vertical Integration: The Missing Link in L1 Value Creation
🙋♂ #S Sonic Labs announced the departure of Mitchell Demetra from the position of Chief Executive Officer (CEO). Additionally, Evan Owens, the Director of Business Development, has also resigned. Sonic Labs has terminated its partnership with CMCC Resonance Fund.
🇺🇸🤝 #S Sonic Labs announced the launch of a network-native U.S. dollar stablecoin, USSD (US Sonic Dollar), which will serve as the stable liquidity layer of the Sonic ecosystem. USSD is built on Frax Finance infrastructure and is backed 1:1 by U.S. Treasury assets issued by BlackRock, Superstate, and WisdomTree. #stablecoin link
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Sonic (@SonicLabs) on X
Introducing USSD, the US Sonic Dollar.
A network-native USD stablecoin built to be the stable liquidity layer across the Sonic ecosystem and a core piece of our vertical integration initiative.
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A network-native USD stablecoin built to be the stable liquidity layer across the Sonic ecosystem and a core piece of our vertical integration initiative.
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🔄⚠️ #SOL #S Sonic has announced significant changes in its leadership and board of directors.
The company's CEO will step down, and Andre Cronje will leave the board of directors.
Additionally, the team is establishing a special committee on risk and compliance to ensure that operational processes adhere to standards that meet token holders' expectations. #regulation
The company's CEO will step down, and Andre Cronje will leave the board of directors.
Additionally, the team is establishing a special committee on risk and compliance to ensure that operational processes adhere to standards that meet token holders' expectations. #regulation