According to ChainCatcher, the SOON community has released a proposal for "token burning and buyback plan in response to potential market manipulation," with the proposal currently receiving 100% support. The proposal details that on July 5th, SOON tokens were subjected to an organized market manipulation attack, causing the price to plummet from $0.22 to $0.13, a drop of 41%. The attackers withdrew 22 million tokens from exchanges and manipulated the market using derivatives.
In response, the SOON Foundation proposes burning 30 million tokens (3% of total supply): 7.7 million tokens will be immediately burned from unclaimed airdrops, and the remaining 22.3 million tokens will be burned through buybacks. This move aims to reduce circulating supply, restore market confidence, and combat manipulation.
