Sonic Labs officially expands to the US with a $150 million plan, making a big bet on the traditional financial market.
On the evening of August 20, Sonic Labs – the blockchain company behind the EVM-compatible Layer 1 network Sonic – passed a key governance proposal that paves the way for its expansion strategy into the U.S. Capital markets. The proposal, called “US Expansion and TradFi Adoption,” received near-unanimous support from the community, with a consensus rate of up to 99.98% .
Sonic Labs plans to issue $150 million in S Token to support this roadmap. Of this, $50 million will be used as liquidation to initiate and operate an ETF tracking the S Token , in partnership with a leading ETF provider in the US. In addition, the company plans to spend $100 million on a strategic investment in the form of a Nasdaq PIPE (Private Investment in Public Equity) , to create a reserve for a vehicle listed on Nasdaq.
This reserve will be used to buy back S Token on the open market as well as OTC transactions, thereby enhancing the reputation and sustainability of this digital currency in the eyes of the traditional financial community. All Token in the program will be locked for a minimum of 3 years , demonstrating Sonic Labs' long-term commitment to investors.
In parallel, Sonic Labs also established a new legal entity called Sonic USA LLC , headquartered in Delaware, to facilitate regulatory compliance and establish a strategic partnership in Washington D.C. The company said it would issue an additional 150 million S Token to support Sonic USA's operations, completely separate from the $150 million earmarked for the two expansion initiatives mentioned above.
Sonic Labs management emphasized that this plan is a direct response to “ the strong surge in demand from US financial institutions for the S Token .” At the same time, the company also proposed to improve tokenomics with the redistribution of transaction fees and the implementation of a Gas Price burning mechanism, aiming to build a more scarce and sustainable Token ecosystem.
Sonic Labs' bold move comes amid a changing landscape in the US financial market after Donald Trump officially returned to the White House in late 2024. The Trump administration is known for its support for financial innovation, including blockchain and cryptocurrencies, creating a more favorable environment for Web3 businesses to expand operations in the US.
Experts say that Sonic Labs’ timing to enter the US is reasonable, given the growing demand from institutional investors for financial products related to cryptocurrencies. Launching an ETF linked to the S Token could help the company quickly gain the trust of traditional investors, while also raising its competitive position with other blockchain projects.
Previously, in August 2024, Sonic Labs rebranded from Fantom Foundation and officially released the S Token . After only one year, this project has shown its ambition to become one of the most influential blockchain platforms in the international market.
