BlockBeats News, February 21 — Sonic Labs announced the 2026 ecosystem update (Part One), stating that CEO Mitchell Demeter and Business Director Evan Owens have stepped down. The board is currently managing the company temporarily and is seeking a new CEO. Sonic stated that the development fund has established a long-term reserve, eliminating the risk of investment unlocking pressure. The funds are allocated across assets such as S tokens, stablecoins, and government bonds.
At the strategic level, Sonic Strategy holds approximately 127 million S tokens (held in multi-signature custody and prohibited from sale) and has ended its partnership with CMCC Resonance Fund. In terms of products, the AI smart contract generation platform Spawn is undergoing internal testing; FeeM has distributed over 2.6 million S tokens to developers, with plans to shift from a 90% rebate to a tiered structure in the future; at the same time, the Meme Season and Sonic & Sodas incentive programs have been terminated. The focus will now be on long-term ecosystem development and token economy integration.
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