In Brief:
- Gotchi Labs, the Cambridge, Massachusetts, company behind Sleepagotchi, has opened registration for a $CHI community sale on Sonar, the public sale platform from Coinbase-owned Echo.
- The company hasn’t announced a date, price, valuation or allocation size for the sale.
- $CHI replaces the $SLEEP token and is meant to work across the multi-vertical consumer AI business Gotchi Labs is building around specialized AI agents.
Gotchi Labs has opened registration for a community sale of its $CHI token on Sonar. Echo’s self-hosted public sale product will run the sale.
The company announced the sale in a post on X from the Sleepagotchi account. The post carried the line “Powered by @echodotxyz × @coinbase” and asked users to register. It didn’t include a date, token price, valuation, hard cap or per-wallet allocation.
The $ CHI Community Sale is coming to Sonar
We're opening the next chapter of Gotchi Labs: a multi-vertical Consumer AI ecosystem,
built on an established consumer platform and powered by specialized AI agents.
Powered by @echodotxyz × @coinbase
Register now →
“We’re opening the next chapter of Gotchi Labs: a multi-vertical Consumer AI ecosystem, built on an established consumer platform and powered by specialized AI agents,” the company said in the post.
From $SLEEP to $CHI
$CHI is a renamed version of the $SLEEP token. Gotchi Labs said it needed a token that could cover several product lines, not just one sleep app.
The token will be issued on Solana with a maximum supply of 1 billion. Its planned uses include AI credits, subscriptions, staked user tiers, gamified rewards, marketplace access, partner campaigns and cross-vertical commerce. Governance has also been listed as a possible use.
Under the published design, users would spend $CHI on subscription discounts and premium agent features and stake it to reach higher tiers. Wellness brands and coaches would stake it to get listed on the platform and run campaigns.
Gotchi Labs is targeting the token generation event for the fourth quarter of 2026. It said that timeline depends on technical and operational readiness and hasn’t named an exact date.
The company hasn’t published eligibility rules for a $CHI airdrop. It has said any airdrop won’t be based on gameplay or sleep tracking, and that in-app points don’t carry monetary value on their own. The whitepaper reportedly excludes South Korean residents from app-linked distributions.
The agent plan
Gotchi Labs laid out its expansion in September. Health and wellness is the first vertical, and Sleepagotchi runs it. Shopping and commerce, fitness and exercise, productivity and daily life, and personal finance are planned next.
A specialized AI agent would run each vertical. The company has a live AI Sleep Coach. It has also described a Wellness Coach that links sleep data to wider habit patterns, a Meal Planner that ties nutrition to wellness scores and a planned Shopping Agent.
The company reported more than 500,000 registered users and about 80,000 daily active users for Sleepagotchi. It also reported 2 million all-time Telegram users on Sleepagotchi Lite (official site), 41% yearly retention and more than $100,000 in revenue during a three-week beta.
It said 78% of users open the app within 10 minutes of waking up.
Funding and leadership
Gotchi Labs said it has raised $6.5 million in total, including a $3.5 million seed round. Its backers include 6th Man Ventures, Collab+Currency, Sfermion, 1kx, Alliance, GSR and Signal Labs.
The September restructuring also changed the leadership team. Founder Anton Kraminkin moved into a strategic advisor role, and games industry veteran Kenny Wood became CEO. Signal Labs founders Shalini Wood and Aditya Julka joined as growth partners.
On Sept. 23, Sleepagotchi and Gotchi Labs joined Welcome3’s invite-only network of founders, investors, exchanges and service providers.
Sonar under Coinbase
Coinbase bought Echo in a deal worth nearly $375 million in cash and stock. It announced the acquisition on Oct. 21, 2025. Jordan Fish, the trader known as Cobie, founded Echo. The platform’s past Sonar sales include Plasma’s XPL and Octra’s OCT.
Sonar lets projects run their own public sales in formats such as auctions, options drops, points systems and variable valuations. It handles KYC and compliance checks. It also connects to Echo’s eID attestation passport, so existing Echo users can register for a sale in one click.
When the deal was announced, Cobie said Echo would “remain a standalone platform under its current brand for now, but we will integrate Sonar’s public sale product into Coinbase”.
Before Coinbase bought it, Echo said it had helped projects raise more than $200 million across 300 completed deals since launching in March 2024.
“Excited to be adding Echo and Sonar to Coinbase to give our customers new token access opportunities,” Coinbase CEO Brian Armstrong said at the time.
