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Labs

Sonic Labs Proposes Token Issuance to Enter U.S. TradFi Markets

by admin August 21, 2025

Sonic Labs is moving to expand $S into U.S. traditional finance, aiming for ETFs, ETPs, and NASDAQ PIPE structures. The proposal, announced via X, targets institutional adoption and a stronger U.S. presence.

This project is set to be led by Sonic USA LLC, which will bring on a CEO and put together a team based in the U.S. to tackle market and regulatory opportunities.

To ensure swift strategic moves, the proposal also rolls out updated tokenomics. The plan includes launching new tokens to support a $100 million NASDAQ PIPE, a $50 million ETF allocation, and 150 million $S tokens for Sonic USA’s operations.

Right now, Sonic Labs is at a bit of a disadvantage since it only holds a small fraction of its initial allocation. Other L1 chains hold onto 50–90% of tokens, allowing for quick collaborations and increased market visibility for strategic reasons.

Strategic Goals and Token Usage

Sonic is set to fund three projects with this issuance’s tokens. To kick things off, they’ll partner with BitGo to ensure secure custody and work with an ETF provider for tracking $S in ETP/ETF products. This initial phase will provide liquidity support and ensure everything meets institutional-grade compliance.

Moreover, Sonic’s financial strategy will be bolstered by NASDAQ PIPE allocations, paving the way for long-term treasury inclusion and open market acquisitions.

Sonic USA LLC also plans to bring in new leadership, establish an office in New York City, and push for regulatory harmonization to drive domestic growth. Plus, every token transaction will be transparently recorded on-chain.

The plan also includes updates to the gas fee structure. Ninety percent of FeeM transactions are directed to builders, while five percent goes to validators, and the remaining five percent is set to be burned. For non-FeeM transactions, half will be allocated to validators, and the other half will be burned.

These changes aim to reduce net inflation, create a deflationary atmosphere, and boost the value of the $S.

Through modernizing its tokenomics and expanding into the U.S. market, Sonic could enhance its competitive edge. With the issuance of strategic reserves, Sonic can become more agile in seizing opportunities in traditional finance, improve its visibility on platforms like CoinMarketCap and CoinGecko, and encourage wider adoption.

Also Read: Kraken Expands xStocks to Tron, Boosting Access and DeFi Trading

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August 21, 2025 0 comments

NFT Gaming

Aptos Labs and Jump Crypto launch decentralized hot storage network

by admin June 25, 2025

Aptos Labs and Jump Crypto are teaming up to launch a new decentralized hot storage network dubbed ‘Shelby.’

In an announcement posted on X, the Aptos Labs team said Shelby will be web3’s first cloud-grade infrastructure and will offer access to decentralized, monetizable storage for data-rich applications.

Shelby is designed to tap into Aptos (APT) to address the gap in existing decentralized infrastructure protocols, with its chain-agnostic architecture offering sub-second reads. Apart from millisecond settlement, Shelby ensures ease of access and monetization.

On why they are building the new cloud-grade storage protocol, Jump Crypto wrote on X:

“While blockchains today have mostly solved the ability to execute code, they cannot access large datasets. More importantly, they cannot SERVE large datasets at scale and speed. Hence, we are building Shelby.”

web3’s value creation engine

Shelby will power real-time web3 applications, with notable use cases including streaming, artificial intelligence inference, composable in-game assets, social dynamic NFTs, and decentralized physical infrastructure networks.

“There is a large opportunity to unbundle large parts of the AWS bundle,” said Kyle Samani, managing partner at Multicoin Capital. “Ambitious swing here,” he added on X.

Early contributors and collaborators include Metaplex, an NFT platform on Solana (SOL), Pipe Network, a decentralized content delivery network on Solana, and Story, the world’s IP blockchain. Others include Myco, DoubleZero, and Flashback Labs, across streaming, infra, and AI respectively.

David Rhodus, founder of Permissionless Labs, a core contributor to the Pipe Network, also commented on the upcoming launch.

“We’re proud to be among the first builders on Shelby because its global high performance storage network makes more data available for the Pipe Network to serve at high throughput. Our Point of Presence nodes will ensure a smoother user experience because our DePIN enabled footprint provides large coverage of last mile endpoints in the areas where Shelby doesn’t have connectivity.”

Aptos will be Shelby’s early settlement layer, allowing for sub-second finality and high-throughput coordination, with real-time data access across any chain.

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June 25, 2025 0 comments

Crypto Trends

Avalon Labs burns 80M AVL, slashing circulating supply by 44%

by admin June 9, 2025

Avalon Labs has burned 80 million AVL tokens, permanently removing them from circulation in a move that reduces the circulating supply by roughly 44%.

Announced on X on June 9, the tokens, worth an estimated $16 million, were mostly unclaimed airdrop allocations from a March 2024 campaign. Avalon framed the burn as the start of a “deflationary cycle” that aligns with long-term incentives.

Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply.

These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth of $AVL has been claimed by… pic.twitter.com/GXMWKpmbNF

— Avalon Labs 🎩🔮 (@avalonfinance_) June 9, 2025

Over the past year, more than 100,000 users have claimed $20 million in AVL through the airdrop. The company thanked its users for helping shape the ecosystem and said it remains focused on aligning incentives between the project and its community.

Token burns are designed to reduce supply, potentially increasing scarcity and price over time. In this case, market response was swift. AVL surged over 18% shortly after the announcement and ranked #1 in futures buys on Bybit.

Avalon Labs is a financial technology company that is building Bitcoin-backed on-chain capital markets. The platform has already disbursed more than $1.2 billion in overcollateralized BTC-backed loans. To extend this model to institutional clients, it recently obtained a $2 billion credit line from prominent Asian conglomerates.

In addition to lending, Avalon created USDa, the first Bitcoin-backed stablecoin, allowing users to unlock liquidity without selling their Bitcoin (BTC). Through its CeDeFi protocol, Avalon also offers yield-generating savings products.

Users can deposit FBTC, a 1:1 Bitcoin-pegged asset, and borrow Tether (USDT) at fixed rates, funds that are deployed into high-yield strategies via platforms like Ethena Labs (ENA). Avalon operates across 20+ public blockchains and 50+ isolated lending markets, with total value locked exceeding $1.1 billion, as per DefiLlama data.

The burn follows several major developments for Avalon Labs. On May 26, YZi Labs, formerly Binance Labs, announced an undisclosed investment in Avalon, boosting the project’s institutional backing.

And in February, the firm revealed it was exploring a Bitcoin-backed public debt fund under Securities and Exchange Commission oversight, a step that could bring more traditional investors into the crypto credit market.

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June 9, 2025 0 comments

NFT Gaming

Yuga Labs Seeks to Replace ApeCoin DAO With New Entity, ApeCo

by admin June 6, 2025

Yuga Labs is pushing to overhaul the ApeCoin ecosystem with a proposal to shut down the ApeCoin decentralized autonomous organization (DAO) and replace it with a new management entity called ApeCo.

In a new Ape Improvement Proposal (AIP), Yuga Labs CEO Greg Solano said the DAO played a crucial role in the project’s early momentum, but has since become dysfunctional. He said the DAO hampers meaningful development.

“What started with promise has devolved into sluggish, noisy and often unserious governance theater,” Solano said. “Too many resources have gone to vanity proposals and low-impact initiatives.”

Solano said the next chapter for ApeCoin requires sharper focus, faster execution and a more professional operating model. “People want to kill the ApeCoin DAO. This AIP proposes just that. It’s time for a leaner, faster org to take the reins,” he wrote on X.

Source: Greg Solano

Yuga proposes a complete wind-down of the DAO system

The proposal outlines a termination of the DAO governance system, including eliminating all governance rights held by tokenholders, nullifying previous AIPs and dissolving working groups and elections.

The DAO’s assets, which include ApeCoin (APE) tokens, intellectual property, smart contracts and infrastructure, would be transferred to the new management entity, ApeCo.

The executive said ApeCo would set a higher bar for which initiatives would receive support, taking a more disciplined approach to funding.

The organization will be established directly by Yuga Labs and will be responsible for supporting high-caliber builders. In addition, it will be tasked with bolstering ecosystem projects like ApeChain, Bored Ape Yacht Club (BAYC) and Otherside.

“We’re building the best chain in crypto and expanding the most iconic brand in NFTs,” Solano wrote. “ApeCoin should be the economic engine for that future.”

Related: Yuga Labs sells Moonbirds IP to Orange Cap Games

Yuga Labs proposal gains community support

Responses to the proposal have been mostly supportive, with many welcoming the shift toward a more focused structure. User TheDonDiablo777 voiced enthusiasm. “I fully support this and am happy to see it in motion,” they said.

Community member Apewhale said there was fatigue and inefficiency with the DAO model. “DAO fatigue is real. ApeCo sounds like the reset we’ve been needing with clearer ops, stronger leadership, and still space for the community to win. Let’s build smarter,” Apewhale wrote.

Despite the support, not everyone is aligned with the transition. Community member Lanzer objected to the move, calling it “bad optics” for Yuga Labs and its CEO. The user criticized the proposal’s rollout and rejected the idea that the DAO had failed.

“I do not think the ApeCoin DAO should be absorbed by Yuga,” he said, expressing concerns around the sequence of events that led to the proposal.

Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin

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June 6, 2025 0 comments

Gaming Gear

Luma Labs’ new Modify Video tool can reimagine scenes without reshooting

by admin June 6, 2025

Luma Labs’ new Modify Video tool for Dream Machine uses AI to alter any video footage without reshoots
Any characters or environments won’t lose their original motion or performances
Anything from subtle wardrobe tweaks to full magical scene overhauls is feasible

Luma Labs is known for producing AI videos from scratch, but the company has a new feature for its Dream Machine that can utterly transform real video footage in subtle or blatant ways, even if it’s just an old home movie.

The new Modify Video feature does for videos something like the best Photoshop tools do for images. It can change a scene’s setting, style, even whole characters, all without reshooting, reanimating, or even standing up.

The company boasts that the AI video editing preserves everything that matters to you from the original recording, such as actor movement, framing, timing, and other key details, while altering anything else you want.

Flexible AI video

It all depends on not just prompts, but reference images and frame selections from your video if you choose. As a result, the process is much more user-friendly and flexible.

Although AI video modification is hardly unique to Luma, the company claims it outperforms rivals like Runway and Pika due to its performance fidelity. The altered videos keep an actor’s body language, facial expressions, and lip sync. The final results appear as an organic whole, not just stitched-together bits.

Of course, the Modify Video tools have limitations. These are still capped at 10 seconds per clip for now, which keeps things manageable in terms of wait times. However, if you want a longer film, you need to plan and work out how to artistically incorporate different shots into one film.

Still, features like the ability to isolate elements within a shot are a big deal. Sometimes you have a performance you’re very happy with, but it’s supposed to be a different kind of character in a different setting. Well, you can keep the performance intact and swap a garage for the sea and your actor’s legs for a fish tail.

Dreams to reality

It is genuinely impressive how quickly and thoroughly the AI tools can rework a bit of footage. These tools aren’t just a gimmick; the AI models are aware of performances and timelines in a way that feels closer to human than any I’ve seen. The AI models don’t actually understand pacing, continuity, or structure, but they are very good at mimicking these aspects.

While the technical and ethical limitations will prevent Luma Labs from recreating the entire cinema at this point, these tools will be tempting for many amateur or independent video producers. And while I don’t see it becoming as widely used as common photo filters, there are some fun ideas in Luma’s demos that you might want to try.

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June 6, 2025 0 comments

Crypto Trends

‘A Different Era’: Bored Ape Creator Yuga Labs Wants to Kill the ApeCoin DAO

by admin June 5, 2025

In brief

Yuga Labs CEO Greg “Garga” Solano drew up plans for the elimination of the ApeCoin DAO.
If passed, the proposal would spin out DAO assets to a new Yuga Labs entity, ApeCo.
Solano said the move would allow the ApeCoin ecosystem to obtain clarity and focus.

The creator of the Bored Ape Yacht Club wants to take control of ApeCoin, after years of distancing itself from the Ethereum token created for its ecosystem.

In a new ApeCoin Improvement Proposal idea, Yuga Labs CEO and co-founder Greg Solano (aka Garga) outlined potential plans to disband the ApeCoin DAO, eliminating all governance rights for APE token holders in the process.

The idea, which started gaining attention on social media earlier this week, would transition all assets and responsibilities of the DAO to a new entity created by Yuga Labs, called ApeCo.

“ApeCoin DAO was a bold experiment, but one born of a different era. What started with promise has devolved into sluggish, noisy, and often unserious governance theater,” wrote Solano in his post on the ApeCoin forums. “Too many resources have gone to vanity proposals and low-impact initiatives. That stops now.”

It’s time for ApeCoin to sunset the DAO and get back to winning.

The AIP creates a new entity, ApeCo, whose mission will be to supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside.

— Garga.eth (Greg Solano) (@CryptoGarga) June 5, 2025

The “bold experiment” came to life in 2022 at the peak of the Bored Ape frenzy, acting as the decentralized entity responsible for launching ApeCoin (APE) on the Ethereum blockchain—not Yuga Labs itself. The ApeCoin DAO was treated as an independent entity, despite being closely aligned with Yuga and the Bored Ape ecosystem.

But over time and as the token price has fallen substantially, the DAO has faced criticism for funding proposals that didn’t add value to the ApeCoin ecosystem or Bored Ape Yacht Club brand.

If the drafted plan is ultimately passed, then the ApeCoin DAO would be fully dissolved and all prior ApeCoin Improvement Proposals (AIPs) would be nullified, with exception given to those that have executed AIP contracts. Additionally, it would terminate all working groups, delegated authorities, elections, and the ApeCoin forum.

“The AIP creates a new entity, ApeCo, whose mission will be to supercharge the APE ecosystem by supporting high-quality builders and reinforcing three core pillars: ApeChain, Bored Ape Yacht Club, and Otherside,” Solano posted on X.

Per the proposal, ApeCo would be granted all assets held by the DAO or ApeCoin Foundation, only after the new entity funds the ApeCoin staking contract and the DAO infrastructure is disabled.

According to Solano, this would create notable benefits to the ApeCoin ecosystem, including “decisive clarity” and “strategic focus”—key themes that have been highlighted since Solano was reinstated as Yuga Labs CEO early last year and the firm began parting ways with IP it picked up since its explosive growth started in 2021.

“Since returning as CEO, everything I’ve worked on has aimed at one thing: getting back to the spirit and velocity of year one, when Gordon Goner [Wylie Aronow] and I were building Yuga from scratch,” he posted on X. “We’ve made huge progress. But the biggest unlock would be in getting ApeCoin rowing in the right direction.”

Just last week, Yuga Labs parted ways with the IP for Ethereum NFT collection Moonbirds that it acquired in February 2024. Earlier this year, it also sold the IP rights to the CryptoPunks and Meebits collections it acquired from Larva Labs in 2022.

The IP shedding, plus the spinout of its HV-MTL game to Faraway in early 2024, has the Bored Ape creator once more focused on its core collection, along with the ApeChain network and long-in-the-works Otherside metaverse game.

“We’re building the best chain in crypto and expanding the most iconic brand in NFTs. ApeCoin should be the economic engine for that future,” Solano wrote in his conclusion.

Early reception to the idea has been broadly positive, with community members and other Web3 builders speaking out in support.

Based on existing ApeCoin DAO governance rules, the idea will need to be reviewed by the ApeCoin DAO Special Council before it can be sent to a vote. Voting periods open on the first and third Thursday of every month at 9:00pm ET.

A representative for Yuga Labs did not immediately respond to Decrypt’s request for comment.

ApeCoin, the native token of the Bored Ape Yacht Club ecosystem and the governance token for the ApeCoin DAO, is down more than 7% in the last 24 hours to $0.66. The token is more than 97% off its April 2022 all-time high of $26.70

Edited by Andrew Hayward

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June 5, 2025 0 comments

NFT Gaming

Yuga Labs sells Moonbirds NFT collection to Orange Cap Games

by admin June 2, 2025

Crypto gaming startup Orange Cap Games (OCG) has acquired the intellectual property of the Ethereum-based non-fungible token collection Moonbirds from Yuga Labs.

OCG said on May 30 that it bought the Moonbirds, Mythics and Oddities NFT collections from Yuga, but did not disclose details or pricing of the deal.

It comes a little over a year after Yuga acquired the three collections when it took over the company that created them, PROOF, in February.

“Moonbirds deserve a team whose whole world is the birds, and there’s no one better than Orange Cap Games to help them reach their potential,” Yuga Labs co-founder Greg Solano said.

He added that Yuga was “laser-focused” on its original collections, which includes the once high-priced Bored Ape Yacht Club and its various spinoffs, including the Mutant Ape Yacht Club as well as its long-in-development metaverse, Otherside.

As part of the deal, Moonbirds will still launch on Otherside and any new onchain assets created by the team will be hosted on Ethereum or Yuga’s layer-2 network, ApeChain.

Moonbirds have more than tripled in price to 0.9 ETH after news of the acquisition. However, the collection is still down nearly 98% from its all-time high of 38.5 ETH in April 2022, according to CoinGecko.

The floor price of Moonbirds has shot up from 0.295 ETH to 0.9 ETH since the acquisition. Source: CoinGecko.

Yuga Labs IP sell-off continues

Yuga has continued to offload its NFT collections and intellectual properties as the NFT market has taken a sharp dive and continues to see low trading volumes.

Earlier in May, Yuga sold the intellectual property rights of CryptoPunks, considered by many to be a pioneering NFT collection, to the nonprofit organization Infinite Node Foundation. The terms of the deals were not disclosed.

In February, The Meebit Company acquired Meebits from Yuga Labs; however, Yuga still has a minority stake, with venture firm 1confirmation also being part of the deal.

Related: Real-world assets could revitalize dying NFT lending market

Last year, Yuga sold off the IPs of two of its games, HV-MTL and Legends of the Mara, in a move to refocus the organization’s core collections.

Meanwhile, on May 30, Disney announced that it had teamed up with Dapper Labs, creators of NBA Top Shot and CryptoKitties, to launch its new loyalty program. Disney+ subscribers will receive a digital pin each month.

The downtrend for NFTs is seemingly coming to an end.

In May, unique NFT buyers increased by 50% to 936,000 from the previous month, whereas NFT volume increased to $430 million, an increase of 15% from April.

Magazine: Coinbase hack shows the law probably won’t protect you

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June 2, 2025 0 comments

Crypto Trends

Sonic Labs announces GSR as the official market maker for S

by admin May 23, 2025

Sonic Labs has picked crypto capital markets firm GSR as the official market maker partner for Sonic blockchain’s native token.

GSR will help Sonic (S) token gain market traction by delivering deep liquidity and strategic guidance, the Sonic Labs team said in an announcement.

As well as becoming the official market maker partner, GSR, a trading firm founded in 2013 and regulated by the Monetary Authority of Singapore and the United Kingdom’s Financial Conduct Authority, will offer full-stack support for S.

The partnership targets the broader decentralized finance, with GSR set to offer support to early-stage projects building within Sonic’s DeFi ecosystem. Sonic Labs says GSR’s emphasis on transparency is key to this collaboration.

“In today’s market, we look for more than just liquidity providers,” said Michael Kong, chief executive officer of Sonic Labs. “We seek partners who are embedded in the network, contribute to DeFi, engage with projects directly, support global community events, and keep open, proactive communication. GSR exemplifies this standard.”

Sonic Labs launched the mainnet of Sonic in December 2024, with the S token and transition from Fantom’s FTM token happening at a 1:1 swap in early 2025. The layer-1 blockchain offers Ethereum Virtual Machine compatibility, verifiable 10,000 transactions per second and sub-second finality.

Meanwhile, GSR’s footprint in the digital asset market includes over-the-counter trading, derivatives and market making. The firm is also a multi-stage investor. Its latest portfolio investments include Sei, The Open Network and Ethena, the synthetic dollar protocol on Ethereum.

In a comment on the partnership with Sonic Labs, GSR head of U.S. business development Alex Taaffe said:

“At GSR, our role goes beyond trading, we’re here to help teams scale and build what’s next. We support innovative protocols with liquidity, helping founders get tokens market-ready, and encourage sustainable on-chain activity to drive long-term growth. Sonic’s speed, infrastructure, and community-first approach stand out in a meaningful way.”

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May 23, 2025 0 comments

NFT Gaming

Sei Labs releases whitepaper for Sei Giga targeting multiproposer EVM L1

by admin May 20, 2025

Sei Labs, the main contributor to the layer 1 blockchain Sei, has announced the release of the Sei Giga whitepaper that outlines the design of the industry’s first multi-proposer Ethereum Virtual Machine layer 1 blockchain.

Sei Giga is Sei (SEI) blockchain network’s new path towards becoming the first multi-proposer Ethereum Virtual Machine L1.

According to an announcement shared with crypto.news, the upgrade proposes a design of parallel blocks, powered by the Autobahn consensus protocol. It means Sei Giga brings a solution to network bottlenecks related to data availability, execution, and storage, among others.

The whitepaper release is the latest major development for Sei as the layer 1 blockchain continues its traction as one of the fastest-growing ecosystems in the market.

Sei has secured over $30 million from some of the leading venture capital firms in the crypto space, including Jump Crypto, Multicoin Capital, and Coinbase Ventures.

“Sei Giga is not just another EVM chain — it’s a reimagining of what’s possible for blockchain performance,” said Jay Jog, co-founder of Sei Labs. “By moving towards multi proposer consensus and rebuilding the execution environment from the ground up, we’re unlocking the scale and speed required for real-world, high-throughput applications — all while maintaining trust guarantees and ease of use of Ethereum.”

Analytics firm Nansen recently pointed out that Sei outpaced other chains as a gaming explosion helped active addresses rise. In the past 24 hours, the active address count has jumped 44%, with over 457k addresses. Daily transactions have also increased by 43% to over 1.03 million.

Sei Giga features include 5 gigagas throughput, 200k transactions per second, and sub-400 millisecond finality. Sei Giga introduces more than 50x throughput, 70x faster block production, and an execution efficiency of 40x.

EVM compatibility means support for Ethereum smart contracts, enabling seamless integration with ETH apps. Decentralized exchanges and trading apps can leverage the upgrade to bolster their user experience.

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May 20, 2025 0 comments