SOON Foundation Unveils Recovery Plan Amid Market Manipulation Concerns

According to BlockBeats, the SOON Foundation has announced the launch of the SOON Recovery Plan in response to recent price manipulation incidents. The foundation is set to introduce a new governance proposal featuring a series of urgent measures aimed at restoring market confidence, alleviating supply pressure, and reaffirming its commitment to the long-term growth of the SOON ecosystem. The plan includes the destruction of 30,000,000 SOON tokens, representing 3% of the total supply, to remove them from circulation. Additionally, a new on-chain SOON buyback mechanism is under development. This product will enable the SOON Foundation to regularly repurchase tokens directly from holders, thereby strengthening market support and gradually reducing circulating supply. Furthermore, preparations are underway for the launch of the SOON governance system. This system will empower token holders to participate in making critical decisions that influence the future development of the SOON ecosystem, including fund allocation, protocol upgrades, and ecosystem funding initiatives.