Sonic Community Approves $150 Million Token Offering for US Expansion

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The Sonic (formerly Phantom) community has approved SonicLabs' proposal for US market entry through a $150 million token offering with a 99.9% approval rating, CoinDesk reported. The proposal includes designing a $50 million ETF, establishing a $100 million Nasdaq-listed private equity fund, and establishing SonicUSA in New York City. SonicLabs described the proposal as "essential steps to listing on an exchange, ensuring competitiveness, and implementing a deflationary mechanism."

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