Paridji

Sailing DeFi's seas hunting for brutal yields.

[The White Whale @WhiteWhaleLabs]

The giveaway pot keeps growing :)

[The White Whale @WhiteWhaleLabs]

Join Me In The Mines & Win

Because many of you are asking, here's a ref link:

https://t.co/eNqKX12drZ

I will give away 100% of proceeds earned on this link to my X followers every single month with proof.

The first giveaway will be one random winner who shared this post.

[Haris Ebrat @HarisEbrat]

Very likely the @SonicLabs new governance proposal is going to pass in its intended timeframe, but very few people are asking meaningful questions considering how short and vague the proposal seems.

🔷My initial thoughts after reading the whole thing:
🔹The proposal feels quite light on specific details
🔹The voting window seems pretty tight for such a big decision
🔹Some concerns about how the voting dynamics play out
🔹The timing feels rushed given how significant this change would be

whats being proposed:
🔷Approve Issuance of Tokens For
🔹$50M ETF Allocation
🔹$100M NASDAQ PIPE Development
🔹150M S Tokens Sonic USA

thats +600m in new token issuance

🔷Intention behind the proposal: Institutional adoption:
🔹Support U.S. ETP/ETF, NASDAQ PIPE (Private Investment in Public Equity)
🔹Sonic USA LLC and new US base for Sonic
🔹Increase burn rate in gas fee mechanisms to strengthen long-term deflation. (I like it)

Questions that needs to be asked:

1⃣:Where is the demand for a $S ETF/ETP?

Current market demand and positioning for $S is insufficient to justify meaningful adoption by US TradFi institutional players.

We've had discounted $S available through fNFTs, yet demand from crypto VCs and treasuries have been minimal or nonexistent so far.

Thinking there is a massive demand from institutional players once we have an ETF is highly optimistic without proven retail/developer adoption first.

2⃣ Massive userbase and on-chain ecosystem should be the catalyst for institutional demand, not the other way around, is there really a need for this at this stage?

I'm all for institutional adoption but given Sonic's current position and relatively low adoption rate for new users/developers compared to other chains (who also lack ETFs but are actively growing), institutional adoption should be a later-stage priority.

Even with expanded SEC approval processes for 2025, ETF providers prioritize assets with established institutional infrastructure, futures markets, and substantial market capitalizations. Sonic's ~$1B market cap places it well below the $8-10B threshold demonstrated by viable candidates like Solana ($81B) and XRP ($210B peak), all of which have much larger user/developer bases than Sonic currently.

3⃣The overall vagueness and how short the actual proposal really is

This represents the biggest change proposed by SonicLabs in FTM/Sonic's history besides the rebranding 9 months ago. A super vague proposal with a short voting period is not the appropriate approach for such magnitude changes.

A proposal of this significance should have been proposed, discussed, and analyzed for much longer before voting commenced.

4⃣The competitive disadvantage narrative appears a bit exaggerated

The analysis of successful L1 competitors is incorrect. Those L1's technical excellence and developer/user adoption drove institutional interest more than treasury size.

Ethereum's institutional adoption preceded major foundation treasury accumulation.

Solana and SUI's growth occurred through developer ecosystem building rather than institutional token distribution.

5⃣The claimed "missed opportunities" lack justification:

🔹Robinhood: Has built on Arbitrum for technical/strategic reasons, not because Arbitrum offered token payments. Robinhood's blockchain choice was driven by proven infrastructure and user base.

🔹Polymarket: Faced regulatory scrutiny over wash trading (33% of volume identified as fake). Their platform challenges were compliance-related, not about lacking blockchain partnerships.

🔹GameStop: Actually launched their NFT marketplace on Ethereum L2s (Loopring/Immutable X) in 2022. They chose these chains for gaming-specific infrastructure and proven NFT ecosystems, not token incentives.

6⃣Performance metrics and success criteria are notably absent

How will the community evaluate whether the ETF partnership generates value? What constitutes success for the NASDAQ PIPE vehicle? Without clear KPIs and accountability structures, this represents massive resource allocation based on optimism rather than demonstrable strategy.

7⃣The emphasis on CMC and CoinGecko ranking manipulation?!

The proposal's emphasis on CMC and CoinGecko ranking manipulation through treasury control doesn't make sense, This is like chasing vanity metrics over fundamental value creation.
Sustainable ranking improvements typically follow organic usage growth rather than artificial treasury inflation.

8⃣The proposal is missing adequate accountability mechanisms

While multisig addresses will be public, actual deployment decisions remain centralized with the Sonic Labs team. No governance framework exists for community oversight of institutional partnerships or Sonic USA operations.

9⃣ Voting power concentration raises representation concerns

With 40 validators, some holding 20-30M tokens ($6-9M stakes), voting power is naturally concentrated among large stakeholders.
The compressed timeline makes it challenging for smaller holders to meaningfully participate, creating a dynamic where larger stakeholders have disproportionate influence on major tokenomics decisions that affect all holders

🔟Dramatic shift from recent positioning

This represents a hard fork from the original rebranding strategy just 9 months ago.
For months we emphasized that Sonic was a fully diluted chain compared to centralized cabal competitors, and we rallied on this as a key differentiator.

Now, 9 months later, we're proposing such a dramatic reversal with minimal notice and short timeframe

------------------------------------

Alternative approaches with better risk-adjusted returns

1⃣Organic institutional development

through continued technical excellence, developer ecosystem expansion, and partnership building could generate genuine institutional interest over 2-3 years without compromising tokenomics or governance structure.

2⃣Alternative 1: Performance-Based Token Vesting Structure:

🔹Issue tokens gradually based on measurable milestones
Start with 50M-100m tokens for Q3-Q4 goals, unlock more only upon achievement

🔹Metrics: TVL growth, developer adoption, institutional partnerships delivered

Benefits:
✅Aligns team incentives with results
✅Reduces dilution risk if goals aren't met
✅Community retains control through milestone approval

3⃣Ecosystem Revenue Sharing Model
🔹Take equity stakes in major dApps building on Sonic (instead of just fee sharing)
🔹Sonic Labs becomes ecosystem investor, sharing in dApp success
🔹Revenue from successful projects funds growth initiatives

Mechanics:
🔹Provide development grants in exchange for 5-10% equity in dApps
🔹As ecosystem grows, portfolio value funds expansion
🔹Similar to how Coinbase Ventures operates

4⃣ A hybrid of all of the above alternatives

[The Trading Uncle @thetradingunc]

$ASTER
- invested by Yzi labs
- perp dex (not working so well)
- shilled by cz
- low revenue since just started
- 2.6bil MC

$THE
- invested by Yzi labs
- perp dex + ve3,3 + liquidity hub
- didnt get shilled by cz
- revenue in the millions as it has been in the space for 4 years
- 51mil MC (50x away from Aster MC)

@thenafi @Aster_DEX

Imagine the rotation.

[Watcher.Guru @WatcherGuru]

JUST IN: Binance Founder CZ says he feels 'sorry' for those who sold Bitcoin at $77,000.

[THENA @ThenaFi]

THENA V3,3 public beta is live, and the full upgrade timeline has been revealed!

Voting begins May 22, and new emissions kick off May 29.

Start here and get ready for what's next.
💜 https://t.co/HhJhQLdmMd

[Watcher.Guru @WatcherGuru]

JUST IN: ETH rises 22% in one day, surpassing $2,200.

[abacus @AbacusFi]

Lock your $LQDR for multichain rewards 🤩

Earn over 43% with more rewards en route.

[THENA @ThenaFi]

Need a reason to vibe with us in Denver this Friday afternoon? This panel might be it!

@SolvProtocol, @VenusProtocol, and @YieldNestFi join us in person to share insights into THE future of onchain finance.

💜 Speakers 🏛️
@catwychan Head of BD at Solv
@0xOranges BD at Venus Protocol
@simonthekid_ Head of BD at YieldNest
@0xApolloFi CMO & co-founder at THENA

Plus, hear how @enfineoapp is bridging the gap between TradFi and DeFi, while @LordCheems_bsc drops alpha regarding the memecoin ecosystem on @BNBCHAIN.

Sign up now: https://t.co/QcrGNP4Tw2

[THENA @ThenaFi]

1/ 2024 was a breakthrough year for THENA! We hit massive milestones, cementing our spot as the leading ve3,3 DEX on @BNBCHAIN.

Following $THE @binance listing, our key metrics surged in Q4 vs. Q3:

• TVL: +112%
• Volume: +195%
• Revenue: +170%
• Total Visitors +208%
• Daily Active Users: +190%

Full report on Binance Square: https://t.co/q89Os1LPqy

Let’s dive into the numbers and how THENA is shaping THE future of DeFi.

🧵👇

[THENA @ThenaFi]

Launchpad, AI Agents, RWAs, and beyond. What else should be on THE 2025 Roadmap?

[THENA @ThenaFi]

One Story ends so a new one can begin.

Our recent campaign that took you on a journey to discover THENA has come to a conclusion.

With the Lunar New Year, we enter the Year of the Snake. A time of transformation.

See you next week.

[0xApollo (💜,🏛️) @0xApolloFi]

Roses are red, violets are blue.

We’ve got something special, just for YOU.

[Alex Chepurnoy @chepurnoy]

First draft of finalized "sub-blocks" (input/ordering blocks) EIP, now need to do prototype code for input blocks propagation/validation to check performance and then polish EIP https://t.co/pARuPDIMCl

[AITECH CLOUD NETWORK @AITECHio]

🤝 AITECH x Thena!

Voting incentives have been added to the AITECH/BNB pool on @thenafi, offering participants a chance to engage in governance and contribute to the ecosystem.

➡️ https://t.co/IC9NI1R58D

[THENA @ThenaFi]

The path is clear. We've entered a year of growth, innovation, and transformation.

In just 2 days, we celebrate the 2-year anniversary of our platform launch.

What have we achieved?

$31 million in revenue. Nearly $24 billion in volume. Listings on tier 1 CEXs. Backed by THE best.

Now we'd love to hear from you. What should be on our roadmap for the next 2 years?

[BSCN @BSCNews]

BINANCE LABS INVESTS IN THENA, A DECENTRALIZED EXCHANGE ON BNB CHAIN

- Binance Labs, the venture capital arm of Binance, invested in @thenafi, a decentralized exchange (DEX) and liquidity protocol on the BNB Chain.

- With this move, THENA will leverage its ve(3,3) tokenomics model to drive DeFi innovation.

THENA's Mission:

- THENA is focused on creating a composable liquidity layer that enhances scalability and security, bringing DeFi closer to mass adoption.

- With Binance Labs' support, THENA plans to accelerate in key areas:

1. Platform Development: Scaling the DEX and core functionalities.
2. Security Enhancements: Fortifying user protection and transactions.
3. User Growth: Expanding DeFi adoption.
4. Partnerships: Strengthening ties within the BNB Chain and Web3 space.
5. DeFi Innovation: Maintaining a competitive edge.

“Thena’s approach to liquidity and their strong focus on user experience position them as a key player in the next wave of DeFi growth, and we are thrilled to support them in their quest to become the ‘SuperApp’ platform set to onboard the masses on-chain,” Alex Odagiu, Binance Labs’ Investment Director said.

- Currently, $THE token is trading at $1.59, with a market cap of $135 million and TVL of $55.32 million.

Images: Binance Labs and Thena X platforms

[THENA @ThenaFi]

AI has dominated 2024 as one of THE hottest topics, with @AITECHio recently added to Binance Alpha.

Now, they're back on THENA with voting incentives for the $AITECH/BNB pool!

This means the reward rate will significantly increase at tonight’s Epoch change. Stake now to catch the early wave.

🖲️ https://t.co/b0K5s3i30a

[0xApollo (💜,🏛️) @0xApolloFi]

Despite always knowing it'd happen one day, today is special in so many ways. Big shout out to @odagius for always believing in us.

Perfect way to step into 2025, a year of transformation. Not only for @thenafi, but all of us.

In 2024, I set some personal goals that I didn't reach. Time to try again. To step out of the comfort zone more often. And reach new heights.

I'm beyond excited for this next chapter. We now have everything we need to make anything happen. ANYTHING.

However, nothing comes for free. Success requires hard work. Thankfully, we love what we do. This is our mission.

See you on the other side 💜

[BNB Chain @BNBCHAIN]

Congratulations to @thenafi for reaching a new milestone and receiving an investment from @BinanceLabs!

https://t.co/jPTVvDZ165