Sonic Labs Explains $40M Treasury Structure Backing Long-Term Ecosystem Growth

• Sonic Labs extended the $40 million debenture to March 10, 2029; conversion follows a NASDAQ listing at $4.50 per share.
• Sonic Labs’ digital asset treasury ties 126 million Sonic tokens to SonicStrategy custody.

Sonic Labs has outlined a $40 million Digital Asset Treasury structure meant to support long-term ecosystem growth on Sonic. The update follows an amendment that extends a convertible debenture involving SonicStrategy, a public-market partner. The arrangement is designed to keep token exposure inside a regulated wrapper while listing plans continue. SonicStrategy is a publicly traded infrastructure company focused on the Sonic blockchain and the Sonic ecosystem. It is listed in Canada and trades in the United States on the OTCQB under the ticker SONIF. It’s positioned as a way for investors to gain exposure without direct token custody.

Transparency Update on Sonic Labs’ DAT.@sonic_strategy, a publicly listed company on the Canadian Securities Exchange (CSE), is being built as a regulated bridge to the Sonic ecosystem, giving traditional investors compliant exposure without wallets, private keys, on-chain… pic.twitter.com/GVZTamxEgr

— Sonic (@SonicLabs) December 31, 2025

The treasury framework centers on a convertible debenture issued on September 11 with a six-month term. That term was scheduled to expire on March 10 this year, before the parties agreed to extend it. The extension is framed as a response to slower timelines across the digital asset treasury market amid a broader crypto downtrend in the second half of 2025. Meanwhile, SonicStrategy continues to hold 126 million Sonic tokens received under the debenture. Custody remains in place while the company works toward an uplisting to the NASDAQ. The extension keeps custody in place while the NASDAQ process advances. It also keeps the DAT roadmap aligned with shifting digital asset conditions.  Earlier in the year, CNF reported that Sonic Labs had opened a 200 million S token airdrop, including U.S. residents. Eligibility required a non-custodial wallet and direct DeFi interactions on Sonic, tracked via points and gems. Sonic Labs’ Debenture Terms and Conversion Conditions The amended debenture now matures on March 10, 2029, unless both parties agree to another extension. It remains unsecured and non-interest-bearing, and it requires approval from the Canadian Securities Exchange. The core conversion condition also remains unchanged, with conversion tied only to a NASDAQ listing. If that listing occurs, the $40 million principal may convert into common shares at $4.50 per share. The terms list an equivalent conversion price of $6.22 per share in Canadian dollars. Any shares issued on conversion would be subject to a three-year lock-up period. The structure also sets limits on token movement before a listing milestone is reached; until an uplisting is completed, the associated tokens are not permitted to be sold or transferred. If the uplisting does not occur within the stated period, the tokens must be returned to Sonic Labs and burned. Alongside the debenture position, SonicStrategy has disclosed about $9 million raised from external investors. Those funds have been used to buy S tokens in the open market, supporting an accumulation approach. The company has not sold any S tokens since launch. Additionally, CNF previously reported that Sonic SVM became the first Solana Virtual Machine chain extension weeks after mainnet launch.  The S token trades at** $0.07445**, dipping 3% in the past day for a $214 million market cap.