Pon🐭😶🌫️
7K posts
Since launch, Sonic has become the home of the ecosystem - users, builders, liquidity, and validators have all made the move. With that transition complete, Fantom Opera will be retired on June 30, 2026. The Fantom Opera network will cease operation at 5:00 PM GMT on June 30, 2026. If you have not migrated your assets, please do so before then. This serves as official notification of the network closure. The ERC-20 FTM → S route and Sonic Gateway are not affected. Full details 👇
There has been intense debate surrounding the Beets LP recovery proposal on Sonic. Some points raised are valid; others are sweeping misunderstandings. Here’s a simple, factual explanation of what we proposed and why. A 🧵
As a long term supporter and ofc shilling $FTM / $S for years I have to share my opinion about the current state. It was all over the TL that @AndreCronjeTech changed his Bio and deleted his Medium articles. Many know that I also was very critical over the last 12 months which Andre didn’t like which ended up with blocking, followed by conversations and kind of finding a way to keep things the good way. This is no d!ck sucking to Andre by the way but I believe to understand what is going on here. Many don’t know, $FTM was there before Andre, they raised 20-40M promising to create the Fantom Blockchain. Andre came in and actually created the EVM Fantom Blockchain, outperforming Eth by far and than the DeFi part started in 2021 which ofc had hick ups. Mercedes Benz tests cars 5 years before they go to market, in DeFi we had 5 weeks and now 5 days if not 5hrs so ofc there will be bugs. Long story short, many people took advantage of $FTM and cashed out Millions in 2021 and some milked the protocol even harder while certain trials with Countroes fell apart due to war situations. While Luna and FTX collapsed also $FTM collapsed and the entire ecosystem. Been in a very bad bear market @AndreCronjeTech and @michaelfkong with Schulz came together to develop the next next stage, the fastest Blockchain in the World. Launched end of 2024 Sonic arrived with a rebranding from Fantom to Sonic and we got $S for $FTM While $FTM was on major exchanges the transition was very difficult and the migration didn’t go well which ofc had a price impact. $FTM was trading in November 2024 at around $1.40. Long story short, eco system strifed for a while bit the $S price were tanking and people started to critize Andre, including me. A year later, $S is trading below 10c and people still blame Andre while he said for years now, that he is not the main guy and helped with the tech. So instead of giving him shot the question is, who is running the previous Fantom and now Sonic Foundation. @michaelfkong stepped down as CEO and was replaced with @MitchellDemeter which has not really a clue of the tech while running the Sonic Strategy on the “famous”Canadian Exchange. So what is the qualification here? What is the qualification of the BD Sam and who has any qualification at all on Sonic Labs? That said, I understand Andre for pulling out since there moght be no future for Sonic as a Chain and clearly not for @SonicLabs RIP $FTM and $S Really had conviction.
We’ve submitted a new governance proposal on Sonic to address losses from the Balancer Composable Stable Pool exploit. The proposal reallocates 27,129,103 S from the remaining airdrop budget to LPs in the stS | wS and wOS | wS Beets V2 pools, calibrated to the scale of the impact. If approved, distributions would be made as locked Aave-boosted wS | stS positions with a 2-year cliff. This approach aims to reinforce long-term Sonic liquidity rather than add sell pressure. To further align Beets with Sonic over the long term, Beets commits to: • Burning S equal to 10% of protocol revenue generated on Sonic over 2 years • Allocating 10% of the Beets treasury (at the time of passing) to acquire and hold S over 2 years • Funding all development and audits required for implementation This proposal is an important step toward restitution and long-term network resilience. Full details here: sonic.discourse.group/t/27m-s-reallo…
We’ve submitted a new governance proposal on Sonic to address losses from the Balancer Composable Stable Pool exploit. The proposal reallocates 27,129,103 S from the remaining airdrop budget to LPs in the stS | wS and wOS | wS Beets V2 pools, calibrated to the scale of the impact. If approved, distributions would be made as locked Aave-boosted wS | stS positions with a 2-year cliff. This approach aims to reinforce long-term Sonic liquidity rather than add sell pressure. To further align Beets with Sonic over the long term, Beets commits to: • Burning S equal to 10% of protocol revenue generated on Sonic over 2 years • Allocating 10% of the Beets treasury (at the time of passing) to acquire and hold S over 2 years • Funding all development and audits required for implementation This proposal is an important step toward restitution and long-term network resilience. Full details here: sonic.discourse.group/t/27m-s-reallo…
