Sonic Labs now wants to reward users based on real activity on the network and long-term value. CEO Mitchell Demeter stated that the company will focus on steady growth, token burns, and fair rewards for developers, rather than pursuing quick market gains.
Demeter posted an article on X that accurately highlights this plan, stating that Sonic Labs will connect real network use, its token value, and developer rewards through updates to its system and business model.
Sonic Labs wants to build real value on its network
CEO Mitchell Demeter said Sonic already has a fast and reliable token system, and the company wants everyone to benefit from it. Instead of chasing short-term market reactions, the plan will make sure every transaction, project, and partnership rewards builders and users in the long run.
The company will eliminate 90% of all transaction fees and allocate the remaining 10% to validators, making the remaining tokens rarer and more valuable over time. The more people build, use, and support the network, the more rewards they receive, creating a loop where participation generates value that grows with the network.
Demeter also explained that tokenholders and other participants will be able to vote on decisions about rewards, token burns, and other important rules. The system will be fair and transparent, ensuring that people who use and support the network have a say in its growth.
Sonic Labs will also ensure fair reward distribution to validators and control token provisioning, allowing the network to be sustained for a longer period.
The company will also introduce selected Ethereum Improvement Proposals (EIPs) and launch its own Sonic Improvement Proposals (SIPs) to enhance the network’s utility for real-world projects and users. Developers will receive a system that rewards them for building and connecting new applications to other networks. Sonic wants more to come on board to increase the level of activity, creating more rewards and value for everyone involved.
The rewards system boosts Sonic’s expansion, education, and engagement by institutions
Sonic Labs plans to open an office in New York City, positioning it as the headquarters for its operations and partnerships. The company aims to showcase its true value to banks and investors, and the new office will enable it to expand in areas such as marketing, communications, and sales, thereby educating the broader public.
Sonic’s media and learning platform, GMSonic, began as a podcast, but the company has since expanded it into a comprehensive platform that shares educational content with its community members. The firm aims to educate new developers on how to utilize Sonic, recognize builders for their contributions, and inform community members about all the activities within the ecosystem.
Sonic will also continue hosting its Sonic Global Summit and participating in other major conferences to educate people and encourage them to join its ecosystem, allowing them to benefit as well. The company aims to establish a network that fosters learning and collaboration between builders and users. In return, the platform will become stronger in the long term, and everyone will benefit from their participation.
CEO Mitchell Demeter stated that the company has a healthy treasury, a substantial pool of liquidity, and the necessary resources to expand its team and plans. He called the approach “speed with purpose,” and said the goal of the company is to build a system where everyone has a reason to participate, help the network grow, and benefit from its success.
The smartest crypto minds already read our newsletter. Want in? Join them.
Source: https://www.cryptopolitan.com/sonic-labs-shifts-to-token-first-growth/
