Sonic Labs said it expects to move about 13 million S tokens within the next 24 to 48 hours under a strategic over-the-counter agreement. The counterparty is described as a long-term partner of the project. According to the statement, the two sides will work together to expand the Sonic ecosystem’s reach and user participation on the partner’s network. Sonic Labs said it disclosed the plan in advance to explain an upcoming large on-chain transfer to the community. The announcement frames the transfer as part of a strategic arrangement rather than an unexplained token movement.
Sonic Labs said it will move about 13 million S tokens within the next 24 to 48 hours under a strategic over-the-counter agreement, according to ChainCatcher. The counterparty is a long-term partner.
The company said the two sides will work together to expand the Sonic ecosystem’s presence and user participation on the partner’s network. Sonic Labs said it disclosed the plan ahead of time to inform the community about an upcoming large on-chain transfer.
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