$FTM #ftm #SONIC On 24/12/2024, Binance officially announced support for converting Fantom (FTM) tokens into Sonic (S), along with the restructuring of related trading services.

Update Details:

1. Stop Trading FTM:

Time: 10:00 on 13/01/2025 (Vietnam time).

Cancelled trading pairs: FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, FTM/USDT.

Note: All trading orders and related bots will be automatically canceled.

2. Open Sonic Trading (S):

Time: 15:00 on 16/01/2025 (Vietnam time).

Trading pairs: S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, S/USDT.

3. Deposit/Withdraw Token:

Stop depositing/withdrawing FTM: 10:30 on 13/01/2025.

Opening deposit for token S: 14:00 on 16/01/2025.

Opening withdrawal for token S: Specific announcement will be released later.

4. Margin and Futures:

Margin:

Stop margin borrowing: 18:00 on 24/12/2024.

Automatic liquidation and order closure: 13:00 on 08/01/2025.

Futures:

Stop opening new positions: 15:30 on 06/01/2025.

Automatic liquidation and contract closure: 16:00 on 06/01/2025.

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Detailed Information About Sonic (S)

1. Exchange Rate:

1 FTM = 1 S.

2. Initial Supply:

3.175 billion S (equivalent to the total supply of FTM at the time of Sonic chain launch).

3. Annual Inflation:

1.75% after 4 years from launch.

4. Function of Sonic Token (S):

Governance.

Staking.

Operating validator.

Pay transaction fees.

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About Sonic Blockchain

Sonic is a next-generation layer-1 blockchain developed by the Fantom team, officially launching the mainnet as a significant milestone. Sonic is expected to deliver superior performance with processing speeds of up to 10,000 transactions per second and instant transaction confirmation capabilities, surpassing existing blockchains.

Along with the mainnet launch, Sonic Labs has implemented a dedicated upgrade portal on the MySonic platform, allowing users to convert FTM to S at a rate of 1:1. In the first 90 days, users can switch back and forth between FTM and S. After this period, only conversions from FTM to S will be supported.

This is seen as a strategic advancement for Fantom in repositioning its brand after a long period without a significant mark.