It seems that several problems/issues are clearly emerging regarding the first governance vote of Sonic.
To summarize:
1. Lack of Demand
There is no institutional demand for the actual $S ETF/ETP, and the response to the existing discounted sales has been minimal.
2. Premature Timing
Unlike Ethereum, Solana, and Sui, where user and developer growth leads to institutional interest, the order has been reversed here.
3. Philosophical Issues
The actions taken are in stark contrast to the "fully diluted chain" philosophy presented during the rebranding nine months ago, which emphasized a chain operated transparently without additional issuance, yet they are already hinting at additional token issuance.
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It seems that there are some Koreans investing in $S, and if you are investing, I believe it is essential to be aware of the controversies.
I recommend not only summarizing but also finding and reading the original texts and various posts regarding the issues.
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