Key Takeaways
Sonic Labs’ U.S. expansion combined ETFs, a Nasdaq PIPE and $150 million in tokens. While fresh issuance creates dilution, its deflationary fee design may counter supply pressure.
Sonic Labs is making its biggest leap yet — crossing into the U.S. with a New York office, fresh Wall Street products, and a bold deflationary model for its token.
The move could open the door to big institutional money, but it also raises risks that the project will now have to navigate.
Here’s the rundown.
Sonic’s big U.S. push
Sonic Labs won a community vote to anchor itself in the U.S. market — 99.99% “For.”
The expansion includes setting up Sonic USA LLC, hiring a local CEO and team, and opening a New York office to establish a stronger presence.
Source: Snapshot.box
On the product side, Sonic is leaning into TradFi with $50 million allocated to ETFs/ETPs and a $100 million Nasdaq PIPE program. It also set aside 150 million S tokens (formerly FTM) to fund the U.S. entity.
This would make the S token more accessible to institutional investors, offering compliant entry points and custody standards.
Balancing dilution with deflation
While the Wall Street playbook brings new opportunities, it also comes with supply risks. In fact, issuance for the ETF, PIPE, and Sonic USA meant near-term dilution.
Naturally, Sonic paired this with a fee tweak: on FeeM transactions, 90% to builders, 5% to validators, 5% burned; on non-FeeM, 50% burned, 50% to validators.
If activity grows, burns could offset issuance and temper supply pressure. Having said that, results hinge on execution, fee design, and treasury discipline through cycles.
Price still heavy, eyes on execution
At press time, Sonic’s S token traded at $0.317, slipping 0.8% over the past 24 hours.
With a market cap of just over $1 billion and a 24-hour trading volume near $100 million, the token has struggled to reclaim momentum since its January peak above $1.
Source: CoinGecko
The chart showed a steady downtrend through mid-2025, with prices consolidating closer to the $0.30 mark at press time.
On top of that, a January peak near $1 has not been reclaimed. The expansion set the table; delivery will decide whether S stabilizes and rebuilds.
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