BlockBeats News, February 21 — Sonic Labs announced the 2026 ecosystem update (Part One), stating that CEO Mitchell Demeter and Business Director Evan Owens have stepped down. The board is currently managing the company temporarily and is seeking a new CEO. Sonic stated that the development fund has established a long-term reserve, eliminating the risk of investment unlocking pressure. The funds are allocated across assets such as S tokens, stablecoins, and government bonds.
At the strategic level, Sonic Strategy holds approximately 127 million S tokens (held in multi-signature custody and prohibited from sale) and has ended its partnership with CMCC Resonance Fund. In terms of products, the AI smart contract generation platform Spawn is undergoing internal testing; FeeM has distributed over 2.6 million S tokens to developers, with plans to shift from a 90% rebate to a tiered structure in the future; at the same time, the Meme Season and Sonic & Sodas incentive programs have been terminated. The focus will now be on long-term ecosystem development and token economy integration.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ripple Secures XRP Ledger Position as Dubai Land Department Advances Tokenized Real Estate Trading
XRP Ledger deepens its foothold in real-world asset tokenization as Dubai activates secondary trading for tokenized real estate, unlocking regulated resale of millions of property-backed tokens and accelerating blockchain integration into official land registry systems.
Ripple Touts XRP Ledger
Coinpedia40m ago
Leios upgrades Cardano to 500 TPS in the first release
IOG's Leios prototype has demonstrated clear end-to-end behavior, showcasing a system capable of handling transactions to block validation. It aims to boost Cardano's Layer-1 performance from 10 TPS to 500 TPS and plans a public testnet by Q2 for community evaluation. Official integration is targeted through the Dijkstra hard fork this year.
TapChiBitcoin1h ago
Vitalik Buterin built Ethereum with a cypherpunk approach, and FOCIL has been added to the upgrade roadmap.
Vương Tiễn
TapChiBitcoin1h ago
Soil Launches RLUSD Yield Protocol on XRPL
Soil launched its RLUSD Yield Protocol on XRP Ledger, achieving $1M in capacity in 72 hours. Investors can stake XRP or deposit RLUSD/USD for rewards, with plans for institutional access and expanded offerings to enhance compliance and yield generation.
CryptoFrontNews5h ago
'Ethereum Is Going Hard': Vitalik Buterin Backs Censorship Resistance Upgrade
In brief
FOCIL will headline Ethereum’s Hegota upgrade set for later in 2026.
The proposal forces the inclusion of valid transactions to limit censorship.
Critics warn it could expose validators to unforeseen risk, particularly when it comes to sanctioned addresses.
Ethereum is
Decrypt5h ago
XRP Ledger Surpasses Solana in RWA Tokenization as Soil Launches Yield Protocol
Soil launched a compliant RWA-backed yield protocol on XRP Ledger for RLUSD, attracting $1M in deposits within 72 hours.
RLUSD holders access on-chain Yield Vaults offering fixed returns from private credit, tokenized government debt, and market-neutral hedge funds.
ORQO Group, an
CryptoNewsFlash6h ago
