SOON Community Releases Proposal for "Token Burn and Buyback Plan Addressing Previous Potential Market Manipulation" with 100% Support Rate

On July 17, it was reported that the SOON community released a proposal titled "Token Burn and Buyback Plan in Response to Previous Potential Market Manipulation," which currently has 100% support. The proposal states that on July 5, SOON tokens suffered an organized market manipulation attack, causing the price to plummet from $0.22 to $0.13, a drop of 41%. The attacker withdrew 22 million tokens from the exchange and manipulated the market using derivatives. In response, the SOON Foundation proposes to burn 30 million tokens (3% of the total supply): 7.7 million tokens will be immediately burned from unclaimed airdrops, and the remaining 22.3 million tokens will be destroyed through a buyback process. This move aims to reduce circulating supply, restore market confidence, and combat manipulative behavior.