TechFlow news, September 1 — According to the Snapshot page, Sonic Labs' key governance proposal on "U.S. market expansion and traditional finance adoption" has passed with 99.99% support. The proposal approves token issuance for a $50 million ETF allocation, $100 million Nasdaq PIPE development, and 150 million S tokens for Sonic USA.
The proposal also includes an updated burn mechanism: FeeM transactions will allocate 90% to builders, 5% to validators, and 5% to burning; non-FeeM transactions will burn 50% and allocate 50% to validators. Sonic USA will appoint a CEO and establish an office in New York, focusing on institutional adoption and regulatory compliance.
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