Sonic (Fantom) news

Sonic Labs introduced USSD, a US dollar stablecoin built on Frax Finance infrastructure, backed 1:1 by short‑duration US Treasury assets via BlackRock, Superstate and WisdomTree. It can be minted cross‑chain from over 10 blockchains using approved assets such as USDC, USDT, PYUSD, USDB, BUIDL and USTB, and redeemed through Frax. The launch comes as Sonic’s native S token has slumped to an all‑time low of $0.03684, down from above $1 in early 2025. USSD is positioned as a liquidity and settlement layer to support the ecosystem, but analysts note it alone may not reverse the broader usage and fee decline issues facing the platform.

Sonic Labs announced a native stablecoin, USSD, built on Frax Finance’s GENIUS‑compatible frxUSD infrastructure and backed by U.S. Treasury assets tokenized by BlackRock, WisdomTree and Superstate. The token can be minted on more than ten chains via LayerZero and is designed to provide stable liquidity across the Sonic network. USSD can be minted and swapped with Circle’s USDC and redeemed on any chain supported by Chainlink’s CCTP, offering an on‑ and off‑ramp for users. The launch supports Sonic’s vertical integration strategy and its high‑throughput EVM‑compatible Layer 1, with the S token up 4.5% to $0.040.

Sonic Labs, the team behind the Sonic blockchain (formerly Fantom), announced plans to vertically integrate core applications to drive value to its native S token. The strategy involves building or acquiring products that increase S token utility, moving beyond reliance on gas fees alone. The team cited fee compression in the current market and aims to control key infrastructure across trading, credit, payments, and risk markets. This approach will complement Sonic's existing FeeM monetization system and could lead to token buybacks using generated revenue. Sonic noted that other projects like Hyperliquid have successfully implemented similar integrated models. The blockchain remains EVM-compatible and focuses on high throughput, with recent developments including a $25.5 million funding round for a related exchange.

Sonic Labs has pivoted from its earlier emphasis on transaction speed to a business-first strategy under new CEO Mitchell Demeter, announcing upgrades that will bring measurable financial outcomes, such as new EIPs, SIPs, token burns, and a tiered reward system for builders and fixed rewards for validators. The aim is to build sustainable long‑term value for builders, validators and token holders rather than relying on hype. Sonic Labs also opened a New York office to strengthen institutional partnerships and policy engagement, while its token has fallen more than 80% since rebranding, with smart money selling $245 million in the last week. The CEO emphasized that the company’s focus will be on long‑term growth beyond price, creating a solid foundation for the token’s future.

Sonic Labs is looking to introduce a fee monetization system that burns tokens while rewarding builders at the same time.

BeInCrypto highlights Sonic, THORChain, and Sky Network as altcoins to watch for early November 2025, citing upcoming network upgrades or governance decisions that could influence their prices. Sonic’s v2.1.2 upgrade adds fee subsidies and security fixes; with RSI oversold and support near $0.128, the price could rebound to $0.159–$0.176, but a break below could fall to $0.112. THORChain’s V3.12 upgrade may boost liquidity; RUNE at $0.809 with converging Bollinger Bands could break $0.855 toward $0.951, while a fall below $0.765 would confirm weakness. Sky Network’s vote to raise buybacks to 300k USDS and transfer 500m SKY to treasury could lift the token from $0.0545 to $0.0575, or drop below $0.0536 if muted.

Sonic Labs announced new CEO Mitchell Demeter, moving former CEO Michael Kong to CIO, a shake‑up expected to drive adoption and institutional ties as the network rebrands from the Fantom Foundation. The change sent the S token up ~4% to $0.2418. The week also sees Falcon Finance opening wallet registration for its FF token, with claims starting Sep 28 and expiring Dec 28. Ethereum’s Fusaka Upgrade will test its first phase on Holesky Oct 1, followed by Sepolia and Hoodi, aiming to boost scalability. EtherFi plans an analyst call on Oct 1 featuring BitMEX founder Arthur Hayes, potentially spurring interest in ETHFI. Meanwhile, FTX will distribute $1.6 bn to creditors on Sep 30, lifting FTT to $0.9628.

The cryptocurrency market is set to experience significant token disbursements totaling approximately $513 million during the second week of September 2025, raising concerns about induced volatility. On September 13, the GameFi platform Cheelee will unlock 20.81 million CHEEL, a 2.08% increase to its total supply, valued at roughly $55.8 million, with allocations for rewards, marketing, liquidity, and community drops. Aptos will release 11.31 million APT on September 11, representing 0.96% of its total supply and about $49.4 million, with allocations to core contributors, community, investors, and its foundation. On September 9, the next‑generation DeFi platform Sonic will issue 150 million S tokens, a 4.6% increase to its supply valued at $46.5 million, supporting its U.S. expansion. Additional unlocks from projects such as Movement, BounceBit, io.net, and peaq are scheduled for the same week, potentially amplifying market‑wide effects across the crypto ecosystem.

Sonic Labs has invested $40 million in SonicStrategy (SPTZ) via a six‑month zero‑coupon convertible note in S tokens. The note converts to shares at $4.50 if the company uplists from the Canadian Securities Exchange to Nasdaq (or similar) and raises ≥$40 million, with shares locked for three years and tokens for four. The capital will fund treasury, validator ops and blockchain investments. Sonic Labs sees SonicStrategy as a bridge to institutional finance and will close the deal within five business days under CSE rules.

Sonic, the rebranded Fantom blockchain, got community approval for a $150 million token issuance to fuel a U.S. expansion that includes a $50 million ETF initiative, $100 million investment program and a Delaware‑registered company. The vote passed with 99.99% of participants – 860.6 million in favor versus 51,200 against. The new issuance replaces the 2018 tokenomics that left the foundation with only 3% of tokens. It will fund listings, acquisitions, and partnerships, and support a regulated ETF provider with >$10 billion AUM and custody by BitGo. A PIPE vehicle will seed a Nasdaq‑listed entity with locked tokens, and the tokenomics will be revised to burn more tokens and curb inflation.