Sonic community members have voted in favor of a wide-ranging plan to expand into the United States and pursue deeper ties with traditional finance, according to an Aug. 31 statement.

According to the network, the proposal passed comfortably after more than 860 million S tokens were cast in support, well above the 700 million quorum level. That figure represented 55% of all staked tokens, reflecting strong engagement across the community.

This approval allows Sonic to direct resources toward launching a US subsidiary, creating an exchange-traded product, and strengthening its balance sheet through new financing structures.

Sonic eyes US presence

The plan establishes Sonic USA LLC, a dedicated entity that will focus on policy, market access, and investor outreach in the US.

The subsidiary has been authorized to issue 150 million tokens and oversee a $100 million private investment in public equity (PIPE) linked to Nasdaq markets.

The proceeds will support balance sheet growth for a listed vehicle and provide liquidity for treasury purchases of S tokens on exchanges and through private deals.

In addition, $50 million has been earmarked for an exchange-traded fund tied to the S token. Sonic intends to work with a regulated ETF provider that manages more than $10 billion in assets, while BitGo will serve as custodian of institutional insurance and security protections.

Tokens allocated to these efforts will remain locked for at least three years, a measure designed to align incentives with long-term investors.

Fee mechanism

Alongside the US expansion, the community endorsed changes to the way fees are distributed on the network.

Under the new framework, 90% of revenue from FeeM transactions will go to builders, 5% to validators, and the remaining 5% will be permanently removed from circulation.

For non-FeeM activity, half will be distributed to validators while the other half will be burned.

By combining revenue redistribution with higher burn rates, Sonic aims to curb inflationary pressure and gradually create a deflationary supply model.

The network supporters argue that the update will reward active participants while preserving long-term value for token holders.

Some also hope these developments will spark an upward swing for the digital asset, which has fallen more than 60% during the past year despite the broader bullish market sentiments.

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PEPENODE reimagines how presales can work by giving participants something to do from day one.

Instead of buying tokens and waiting for the launch, you step into a fully interactive virtual mining simulator. Here, you can build your own server rooms, purchase Miner Nodes, upgrade facilities, and increase your hash power in real time.

The presale is already live at $0.001008 at the time of writing, and those who join now can get the $PEPENODE token at a low price. They can also stake their purchase immediately to start earning rewards.

The real hook is that your tokens are not just sitting idle. You can start putting them to work in a gamified mining environment before the token generation event.

Why This Presale Stands Out: How Mining Works on PEPENODE

Most presales are quiet. You buy in, then wait for weeks or months until the token launches. PEPENODE is different because it gives you something to do right away. Its off-chain mining game lets you start building your operation while the presale is still running.

You can watch your hash power grow, track rewards, and see upgrades happen in a live dashboard.

Early buyers also get a significant advantage. PEPENODE uses tiered node rewards, so the earlier you join, the more powerful your nodes will be. Stronger nodes mine faster and yield more rewards, giving you a head start before everything moves on-chain.

The mining game has two parts: Miner Nodes and facility upgrades. Nodes provide mining power, and upgrades enhance your setup’s speed and efficiency. The stronger your setup, the more you can earn.

It may look like a game, but your choices matter. Knowing when to upgrade and where to invest can increase your rewards before launch. The goal is to build the best setup so you are ready for the on-chain phase.

Tokenomics Built for Growth and Scarcity

More than 210 billion $PEPENODE tokens have been minted, with no private rounds or insider allocations. The distribution is aimed at building the ecosystem and rewarding the community.

35% of the supply goes to economics and treasury, funding business development and community events. 15% supports infrastructure, including marketing and operational scaling.

Node rewards account for 7.5%, fueling giveaways and staking incentives. Another 7.5% is reserved for growth and listings, covering liquidity and exchange costs. The final 35% is dedicated to protocol development, ensuring the mining system continues to evolve.

The project also has a strong deflationary mechanism. About 70% of all tokens spent on Miner Nodes and upgrades are permanently burned. This means that as more people participate, the supply decreases, potentially increasing scarcity over time.

PEPENODE Launch and Growth Plan

The launch plan is split into four phases.

Phase one is the presale itself, with the price currently at $0.001008. Users can now buy and stake immediately for passive rewards. Early staking rewards start above 20,000% APY. The mining game has also started, and there is a focus on community growth.

Phase two is the token generation event. This is the stage where tokens will become claimable through the PEPENODE website. There are also plans to list the $PEPENODE token on both decentralized and centralized exchanges.

Phase three moves mining on-chain. This includes NFT-based node upgrades, expanded facilities, and a global leaderboard with verified rewards.

Phase four brings meme coin integration and expansion. PEPE and FARTCOIN rewards are added, along with new node types, more boost mechanics, and influencer collaborations. A mobile dashboard will also make mining accessible from anywhere.

Security, Sustainability, and Referral Bonus

PEPENODE runs on Ethereum’s Proof-of-Stake network, which is far more energy-efficient than traditional mining. The platform also includes anti-bot measures that make it harder for automated systems to exploit the presale.

The 70% burn rate on upgrades ensures that as activity increases, the circulating supply drops. This could add a long-term sustainability element to the project’s economy.

PEPENODE’s rewards are designed to keep players active. Early buyers get stronger nodes, and staking during the presale can further boost your returns. There is also a 2% referral bonus on whatever your friends mine when they join through you.

There is a competitive side too. The leaderboard rewards top miners with extra $PEPENODE tokens and meme coins like PEPE and FARTCOIN. These fun bonuses make the game more exciting while still offering real value.

How to Buy PEPENODE in the Presale

Here is how to join: Start by funding a wallet like MetaMask or another compatible Web3 wallet. Visit the PEPENODE website and click ‘Buy’ or ‘Connect Wallet’. Choose the amount you want, and if you want to stake immediately, select the ‘Buy and Stake’ option.

If you prefer to pay with a card, connect your wallet first, then choose the card payment method to complete your purchase. From there, you can begin mining virtually the same day you join.

Visit the PEPENODE ecosystem: Website | Telegram | X (Twitter)

Earlier today, Bitcoin (BTC) briefly fell below $115,000 – hitting a low of $114,116 – triggering panic selling across major crypto exchanges, including Binance. Sharp shifts in several key metrics, such as open interest and net taker volume, confirm the intensity of the sell-off.

Bitcoin Decline Wipes Out $500 Million In Open Interest

According to a Quicktake post on CryptoQuant by contributor Amr Taha, BTC’s drop below $115,000 led to a sharp decline in open interest on Binance, which fell from $14 billion to under $13.5 billion.

Related Reading

The following chart shows Binance open interest declining by nearly 4% in a single day – a move typically associated with liquidation events. Supporting this, data from CoinGlass shows $760 million in liquidations over the past 24 hours.

To explain, such large-scale liquidation events typically occur when leveraged traders face forced position closures – long or short – due to margin calls. The sharp BTC drop resulted in the liquidation of approximately 183,514 traders in just 24 hours.

In addition to falling open interest and widespread long liquidations, Binance’s net taker volume also points to rising bearish sentiment. The metric plunged to -$160 million, underscoring aggressive selling pressure.

For context, Binance net taker volume measures the difference between market buy and sell orders initiated by takers. A positive value suggests dominant buying activity (bullish), while a negative value reflects dominant selling activity (bearish).

Binance net taker volume dropping into negative territory further reinforces bearish pressure on BTC. Since this net selling coincided with the decline in open interest, it indicates that many derivatives traders are panic-closing late long positions.

Will BTC Make Recovery?

Despite the falling price, shrinking open interest, and negative net taker volume, Taha suggests that these bearish indicators could paradoxically set the stage for a short-term rebound.

Related Reading

Bitcoin’s selling pressure may be nearing exhaustion, while short interest continues to rise. This combination could trigger a market rebalancing phase, potentially paving the way for price stabilization – or even a short squeeze-driven bounce.

However, on-chain data points to continued bearish momentum. The increasing share of new investors among BTC holders may lead to overheated market conditions in the near term. 

At the same time, exchange reserves are rising, which could contribute to more selling pressure. Long-term BTC holders also appear to be selling in significant volumes, suggesting potential rally exhaustion.

That said, BTC could still remain on track for its year-end target of $180,000 – but only if it holds key support at $110,000. At press time, Bitcoin is trading at $115,310, down 2.1% over the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

The Philippine government has officially launched a blockchain-based system to verify government documents on the Polygon network as part of a broader initiative to modernize public services and improve trust in state-issued records, local media reported on July 31.

The new platform, introduced on July 30 by the Department of Budget and Management (DBM), allows users to confirm the authenticity of documents like Special Allotment Release Orders and Notices of Cash Allocation by referencing cryptographic hashes stored on the Polygon blockchain.

The hashes serve as tamper-proof identifiers, enabling real-time validation without exposing confidential information.

The rollout comes amid rising concern over the misuse of artificial intelligence in document forgery. Officials say the system is designed to address these challenges while enhancing accountability in how public funds are allocated.

“This initiative is part of our broader commitment to integrating secure, emerging technologies into governance,” said Maria Francesca Montes Del Rosario, DBM undersecretary, during the launch event. The department partnered with Bayanichain, a local blockchain firm, to develop and deploy the infrastructure.

The announcement coincided with a temporary disruption on the Polygon network, caused by a technical issue with its Heimdall consensus layer. While core block production remained intact, several public-facing services, such as block explorers, briefly failed to display network activity.

Despite the timing, government officials confirmed the launch proceeded uninterrupted. The blockchain validation system is now accessible through an official portal that allows users to scan QR codes or enter reference codes tied to budget documents. The system checks the code against the blockchain to confirm the document’s integrity.

The Philippines joins a growing list of countries experimenting with blockchain for public record-keeping. However, the network hiccup highlights the importance of stability and redundancy when state infrastructure relies on decentralized platforms operated by third parties.

A routine $10,000 prediction market on Polymarket covering Sunday’s NASCAR Cup Series race erupted into a dispute in UMA’s history after the oracle rejected an early settlement proposal, despite it being accurate. 

As reported by the X user known as Domer on July 24, the clash has revived questions about how UMA’s optimistic‑oracle process balances speed, clarity, and fairness.

How a $10k market became a $60k fight

When the checkered flag fell at 6:58 p.m. ET, Denny Hamlin crossed the line first and was later confirmed as the winner following NASCAR’s post‑race inspection. 

One minute after the finish, a veteran Polymarket trader, known as “GeopoliticsWizard,” posted 40 settlement proposals to UMA, one for each driver contract, paying the required 750 USDC bond on each. 

Ninety minutes later, other users challenged every proposal, arguing the submitter had not waited for inspection. Under UMA’s rules, each dispute also required a 750 USDC bond.

With 40 proposals and 40 disputes, total staking ballooned to $60,000, six times the underlying market size. The ultimate split is predetermined: the winning side collects its 40 bonds ($40,000) while UMA keeps the remaining $20,000 as protocol revenue.

UMA’s published documentation does not require proposers to wait for inspections. Instead, it directs them to use an “authoritative public source.” 

NASCAR’s leaderboard showed no caveats or asterisks. Even so, on-chain voters judged the submissions “Too Early,” siding unanimously with the disputers. The vote came after NASCAR confirmed Hamlin’s win at 8:26 p.m., and disputes were lodged at 8:27 p.m.

The ruling wiped out roughly $30,000 in net value for the proposer, turning a previously profitable account into a negative one, according to posts from Domer. 

How UMA works

UMA uses a three‑step “propose–dispute–vote” loop. Anyone may submit a settlement answer with a bond. If unchallenged during a short liveness window, the answer becomes final. 

A challenger can post an equal bond to force a token‑holder vote. The majority receives the combined bonds, while the minority forfeits theirs. 

The model is designed to be fast and decentralized, yet the NASCAR case shows that costs can dwarf a market’s notional value when disputes escalate.

Earlier in July, UMA faced backlash over a $200 million Polymarket contract on whether Ukrainian President Volodymyr Zelensky would appear in a “suit.” 

After initially ruling “Yes,” UMA reversed course following challenges about what qualifies as a suit, exposing how ambiguous wording can grind the oracle to a halt. 

Days later, a separate Major League Baseball market erroneously paid out to the wrong team. UMA stated that a technical glitch and lack of dispute caused the mistake and promised refunds.

The bigger picture

In Domer’s view, the NASCAR episode lays bare a deeper problem: UMA’s voting base has shrunk to a small circle of “trusted” regulars whose financial incentives often align with disputers, rather than with neutral accuracy. 

When Polymarket itself stays neutral, as it did here, UMA leans on these insiders for guidance, and “they comply.”

He added:

“The voting system is more centralized than ever, with a community more dormant than ever […] The group that disputed spammed the Discord heavily, so it had to be ‘Too Early’, and UMA voters did as they were told.”

Domer concluded that such dynamics turn legitimate traders into collateral damage.

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President Donald Trump today signed the act of genius and marked a milestone in his administration’s push to establish the United States as a global Bitcoin and crypto capital. The law creates a clear regulatory framework for dollar-backed stubcoins, representing what Trump called “probably the biggest revolution in financial technology since the birth of the Internet itself.”

The Genius Act does not address Bitcoin directly, but the act establishes regulatory clarity that can benefit all digital assets, including Bitcoin, by creating a better environment for crypto innovation and increasing the volume of trading on exchanges.

Speaking at the signing ceremony, Trump highlighted the possibility of a change in the new law. “This is a really big day. It’s a really big thing. I want to thank my very good friend, Sen. Bill Hagerty.” This makes America stronger and congratulations, that’s good for the country. ”

The President connected the law to Bitcoin and crypto commitments, referring to historic appearances at the Bitcoin Conference. “At the very month, when many people were in Nashville, Tennessee, when I became the first president to compete in the Bitcoin Conference. We have vowed to make the United States the crypto capital of the world. This is going even further.”

Trump outlined his administration’s approach to digital assets and highlighted several key initiatives. “In the first week of his inauguration, he established the first presidential working group on digital assets, halting government weaponization against crypto and halting Bitcoin.

The President also referred to the establishment of strategic Bitcoin reservations through the executive order, specifically showing his commitment to Bitcoin. “Last March, I signed an executive order establishing a US strategic Bitcoin Reserve and US digital asset stockpile. Today’s signature is pushing us even further into an exciting frontier.”

The president then discussed how genius acts address critical infrastructure gaps in the American financial system. “Many Americans are unaware that the technical backbone of the financial system is in a decades-old era. “The Genius Act provides banks, businesses and financial institutions with a framework for issuing crypto assets that are supported one-to-one in real US dollars.”

According to Trump, the law is expected to increase demand for the US Treasury. He also reaffirmed central bank opposition to digital currencies, saying, “I am also fully committed to the pledge that the central bank will never allow digital currencies in the US.”

AI & Crypto Czar David Sacks spoke at the ceremony, highlighting the historical nature of the moment. “Today you have another historic legislative achievement, a step towards making the United States the world’s crypto capital.

Trump has pledged additional crypto laws this year, calling it a “really hot industry” and continues to evoke the continued momentum of America’s Bitcoin and digital asset development.