97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower

97% Down — Andre Cronje Exits Sonic Labs Board as S Token Continues to Sink Lower

Andre Cronje and co-founders exit Sonic Labs as S token crashes 97% (from $1.03 to $0.03) and TVL collapses from $1.14B to $20M. Cronje's shift to Flying Tulip exposes L1 governance failure; founders exit unsustainable value-extraction models for yield platforms.