Binance recently announced the delisting of Fantom (FTM), triggering a sharp price drop to $0.9024. However, this move is part of Fantom's planned transition to the Sonic (S) token, as the network undergoes a strategic upgrade and rebranding to Sonic Labs.
1) Rebranding to Sonic Labs: Fantom is rebranding to Sonic Labs as part of a strategic transformation.
2) New Blockchain - Sonic: The rebrand includes the launch of a new Layer-1 blockchain called Sonic, designed for higher scalability and interoperability.
3) Improved Performance: Sonic promises over 10,000 transactions per second (TPS) with 1-second finality, providing faster and more efficient operations.
4) New Token - Sonic (S): FTM will be replaced by the Sonic (S) token at a 1:1 ratio, ensuring a seamless transition for holders.
5) Migration Support: Binance and other exchanges will support the migration, allowing existing FTM holders to easily swap to Sonic (S) tokens.
6) Strategic Goals: The rebranding aims to address network limitations, improve user experience, and position Sonic as a competitive player in the blockchain space.
