Mitchell Demeter

Launched the world's first Bitcoin ATM. 13 years building companies across crypto and capital markets. Builder. Investor. Advisor.

[Mitchell Demeter @MitchellDemeter]

@mert The cynics price crypto like a hobby. Adoption curves don't check CT sentiment before they compound.

[Mitchell Demeter @MitchellDemeter]

@cryptorover At that size he either knows something or he's about to become a very expensive liquidation screenshot. No in between.

[Mitchell Demeter @MitchellDemeter]

@GordonGekko Every cycle has one "X is just like BTC in 2016" post. The only thing that was ever like BTC in 2016 was BTC in 2016.

[Mitchell Demeter @MitchellDemeter]

I’ve moved on from my role with Sonic Labs. While my time there was brief, I’m grateful for the experience and wish the organization all the best.

[Mitchell Demeter @MitchellDemeter]

The digital asset treasury (DAT) market has softened alongside broader crypto markets. That’s industry-wide, not unique to Sonic, and not permanent.

DATs remain an important bridge between traditional capital and on-chain ecosystems, particularly in the absence of a Sonic ETF, where a regulated public-market structure can provide compliant access.

@sonic_strategy is our chosen DAT partner. Given current market conditions, we extended the agreement to allow the structure to mature responsibly, rather than forcing timelines that don’t reflect today’s environment.

Importantly, the tokens associated with this structure are contractually locked. SonicStrategy has never sold $S, and its dedicated to growing $S per share through long-term accumulation, not distribution.

Markets move in cycles. We’re focused on building the infrastructure that endures across them.

[Sonic @SonicLabs]

Transparency Update on Sonic Labs' DAT.

@sonic_strategy, a publicly listed company on the Canadian Securities Exchange (CSE), is being built as a regulated bridge to the Sonic ecosystem, giving traditional investors compliant exposure without wallets, private keys, on-chain interaction, or complex tax reporting.

🧵

[Mitchell Demeter @MitchellDemeter]

Earlier this year, when $S was trading at higher levels, governance gave the green light to an ETF allocation. As the market cooled, we held off on minting those tokens, and no ETF tokens have been issued. When I came on board as CEO in late September, I chose to keep it paused.

At current prices, moving forward as originally proposed would require issuing a substantial number of tokens. That didn't feel right to me. Markets evolve, and it made sense to pause and reassess rather than follow a plan that no longer fit.

I remain convinced that institutional access is important for long-term growth, but timing matters. We’ve refined the approach to better reflect current market conditions, and the updated path forward and conditions for moving ahead are outlined in the blog linked below.

[Sonic @SonicLabs]

Transparency update on Sonic Labs’ $S ETF allocation.

Earlier this year, governance approved a proposal authorizing up to $50M worth of $S to seed a potential US-listed ETF with the expectation that execution would follow shortly thereafter.

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[Mitchell Demeter @MitchellDemeter]

Season 1 did exactly what it was meant to do. It bootstrapped Sonic at launch, drove real usage, brought in infrastructure partners, and helped establish the network quickly. It worked.

It also came with an unavoidable tradeoff: meaningful sell pressure. Large, broad airdrops optimize for short-term behavior as much as long-term participation. That’s not a mistake, it’s a lesson. And good networks evolve based on lessons, not narratives.

After reviewing Season 1 outcomes and the broader market response, we made the deliberate decision to cut Season 2 short and materially reduce distributions. We know that wasn’t popular for everyone, but we believe it was the right call for the long-term health and alignment of the Sonic ecosystem.

Going forward, we’re moving away from broad participation-based airdrops and toward targeted, usage-driven incentives that reward real activity: builders shipping, users creating demand, and teams contributing to sustainable growth. In parallel, we’re re-evaluating tokenomics and burn mechanisms so value accrues to those who participate meaningfully as the network grows.

This is a shift from bootstrapping to optimization. From growth at any cost to discipline, alignment, and durability. We’re building Sonic for the long haul, and every decision from here forward will reflect that. $S

[Sonic @SonicLabs]

Transparency Update on Sonic Labs Airdrop Economics.

Per a community governance vote, we originally minted 190,500,000 S for airdrops and ecosystem incentives on June 19th, 2025.

🧵

[Mitchell Demeter @MitchellDemeter]

This is correct.

We’re doing a real reset at Sonic. Not surface-level changes, a full internal restructuring from the inside out. Leadership, strategy, BD, comms, marketing, community, and how we operate day to day.

This stuff takes time. We’re going through the business issue by issue and fixing things properly, not rushing it or papering over what needs work.

When this is done, Sonic will look very different from what it was before I stepped in.

[Mitchell Demeter @MitchellDemeter]

@Jackcrypto4life @SonicLabs Thanks for being a supporter of Sonic. Our team is motivated by community members like you who are persistently advocating for our ecosystem.

[Sonic @SonicLabs]

So you want to learn how to build on the fastest, most secure, and builder aligned EVM chain?

@HackQuest_ has an easy, 8 phase course on all things Sonic:

Learn the basics of Solidity, deploy secure smart contracts, build guided projects, and more!

🔗 Start learning today: https://t.co/2lnt3TiBpE

[Mitchell Demeter @MitchellDemeter]

@XPRESSprotocol Builders build 👷‍♂️

[Mitchell Demeter @MitchellDemeter]

Proud to welcome Evan to the growing Sonic team!

[Sonic @SonicLabs]

We’re thrilled to welcome Evan Owens as our new Director of Business Development.

With 15 years of experience as a founder, investor, and operator, Evan brings deep expertise in building partnerships, scaling ecosystems, and turning strategy into revenue-driving execution.

He has led business development across both web2 and web3, structuring high-impact partnerships, opening new markets, and building long-term relationships with operators, enterprises, and builders.

At Sonic, Evan will focus on expanding strategic partnerships, accelerating ecosystem growth, and translating world-class technology into real-world adoption.

[Sonic @SonicLabs]

Make sure to give @ResonanceFund a follow 📱

Resonance was launched by @CMCC_Global, one of Asia’s most established crypto-focused venture firms.

Learn more by watching their keynote from Sonic Summit Singapore below 👇

[Mitchell Demeter @MitchellDemeter]

I’ve been building in crypto for 13 years and have started several businesses along the way. Renno Global, my fCEO and Director services firm, is fully operated by my partners and their team. While I still hold ownership stakes in various companies I’ve helped build, I’m not involved in their day-to-day operations. My sole daily focus is Sonic Labs, where I serve full-time as CEO.

[Mitchell Demeter @MitchellDemeter]

@ResonanceFund 🤝🚀

[Mitchell Demeter @MitchellDemeter]

@zethesx @SonicLabs Sonic community unite!

[Mitchell Demeter @MitchellDemeter]

@minhokim @gosodax Glad to have you on Sonic and a part of our incredible ecosystem.

[Mitchell Demeter @MitchellDemeter]

@DoctorDeFi @SonicLabs Relaying this to the tech team now. We have been exploring some other interesting EIP implementations that can make Sonic stand out.

[Mitchell Demeter @MitchellDemeter]

Even during periods of low retail user activity, the network isn’t “empty.” Builders and protocols still benefit from arbitrage bots, liquidators, keepers, and market-making activity that continuously interacts with smart contracts. These actors generate real transaction flow as they rebalance pools, enforce peg stability, execute liquidations, and close pricing inefficiencies across chains.

FeeM reflects this constant underlying economic activity. There are always opportunities for those who look for them, even before the next wave of users arrives.

[Mitchell Demeter @MitchellDemeter]

@Equalizer0x GM!