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SONN Governance Vote Proposes $265M Buyback of HYPE Tokens
12/02/2025, 14:06
AI SUMMARY
●SONN governance vote to decide on a $265M buyback of HYPE tokens
●Proposal includes locking 12.6M HYPE and using cash reserves for purchases
●Vote is viewed as a significant potential catalyst for HYPE market dynamics
A governance vote for the SONN project is scheduled for tomorrow, proposing the use of treasury cash to purchase HYPE tokens from the open market. If the vote passes, the protocol will lock 12.6 million HYPE tokens and allocate at least $265 million in cash for additional buybacks.
The proposal aims to utilize the project's gross cash reserves to support the HYPE ecosystem directly. Traders are closely monitoring the vote as a potential catalyst for HYPE token demand and supply dynamics.