The delisting of Fantom and the formal launch of Sonic tokens with a token swap ratio of 1:1 in 2025 are both announced by Binance.
Binance has officially announced its support for the Fantom (FTM) to Sonic rebrand and token swap, scheduled for early 2025.
The exchange will stop processing FTM deposits and withdrawals on January 13, 2025 at 3:30 UTC and delist all FTM trading pairs, including FTM/BTC, FTM/USDT, and FTM/ETH. After that, trading in the new Sonic (S) coin will open on January 16, 2025, when pairs including S/BTC, S/BNB and S/USDT go live.
The FTM tokens are converted to Sonic at a 1:1 ratio, meaning users receive the same number of Sonic tokens for each FTM they own. All technical parts of the swap are managed by Binance, so users don’t have to do anything themselves. However, FTM withdrawals will no longer be supported after the token exchange is completed.
This token exchange is in line with Binance’s long-standing support for token migrations of this type, such as the well-known MATIC to POL token switch, where Binance made the switch easier for users.
Futures, Margin Trading and Simple Earn are among the services Binance will be updating as part of the transition. In the affected products, FTM will be replaced by the new S-Token.
With a total supply cap of 15% annual inflation through 2031, there will be approximately 2.88 billion S tokens in circulation at launch. As part of an incentive program designed to attract developers to the Sonic Network, users are entitled to up to 90% of the revenue their apps generate. In addition, the…
