Sonic Labs CEO Matt Visser: Cancel all manual issuance of S tokens
2026-09-22 19:13:36
According to CoinMeta, Wu said that on the 100th day of the project's progress report, Sonic Labs CEO Matt Visser announced that it would cancel all manual issuances of S-tokens, retaining only the automatic issuance mechanism used to pay validator rewards in order to maintain network security. The team is introducing new independent validators and studying a dynamic reward mechanism. They have also commissioned a third party to audit the supply of S-tokens and related disclosures, with a report expected to be released in the coming weeks. Visser stated that buybacks, destruction, and fee sharing need to be based on actual revenue, and therefore, no such arrangements will be pursued at this time in the absence of revenue support. In addition, Sonic V2.2 was launched on September 22, introducing transaction packaging, expanded transaction fee sponsorship, and a new execution engine. The project will also proceed with organizational restructuring; while maintaining the operation of the Sonic L1 network, independent technical teams will focus on developing payments and foreign exchange, as well as AI, RWA, and tokenization and prediction markets.
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