Sonne Finance, a decentralized lending protocol, has recently made an announcement regarding the highly anticipated token conversion from Sonne V1 to Sonne V2. The conversion process, which was expected to commence shortly, has been delayed, and users are yet to receive claims. The Sonne Finance team is currently engaging in discussions with community members through the official Discord channel, gathering feedback and thoughts on the proposal.

The delay in token conversion comes after Sonne Finance suffered a significant loss of approximately $20 million due to a flash loan attack in May. The attack resulted in a substantial setback for the protocol, and the team has been working tirelessly to rectify the situation and ensure the security of users' assets. The token conversion process is a crucial step in their recovery strategy, aiming to strengthen the protocol and prevent similar incidents in the future.

While the exact timeline for the commencement of the token conversion process remains unconfirmed, users are advised to exercise caution and vigilance. Scammers may attempt to take advantage of the situation, and users are urged to avoid clicking on suspicious links and verify the authenticity of messages by checking the username of the posting account.

The Sonne Finance team is committed to prioritizing the security and well-being of their users' assets. Although the token conversion process has been delayed, the team is working diligently to implement measures that will prevent similar attacks and ensure the long-term sustainability of the protocol.

The incident highlights the importance of security in the decentralized finance (DeFi) space. As the DeFi landscape continues to grow and evolve, protocols like Sonne Finance must remain proactive in addressing potential vulnerabilities and implementing robust security measures to protect users' assets. Despite the setback, Sonne Finance remains committed to providing a secure and reliable platform for users, and the upcoming token conversion process is a crucial step in achieving this goal.