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- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
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2️⃣ #Creator Campaign Phase 2# |ZKWASM Topic: Share original content about ZKWASM or its trading activity on X or Gate Square to win a share of 4,000 ZKWASM!
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The SOON community released a proposal for "token burning and repurchase plan in response to potential market manipulation," with a support rate of 100%.
ChainCatcher news, the SOON community has released a proposal for "token burning and repurchase plan in response to potential market manipulation". Currently, the proposal support rate is 100%. The proposal includes that on July 5, SOON Token faced an organized market manipulation attack, with the price falling from $0.22 to $0.13, a decrease of 41%. The attackers withdrew 22 million Tokens from the exchange and manipulated the market using derivation. To this end, the SOON Foundation proposes to burn 30 million Tokens (accounting for 3% of the total supply): among them, 7.7 million Tokens will be immediately burned from unclaimed airdrops, and the remaining 22.3 million Tokens will be burned through buybacks. This move aims to reduce the circulating supply, restore market confidence, and combat manipulation.