🚨Binance Announces Fantom (FTM) Rebranding to Sonic (S): Key Dates and Details🚨
Binance has confirmed its support for the token swap and rebranding of Fantom (FTM) to Sonic (S), with several significant changes planned for early 2025. Here’s what users need to know:
Key Dates and Changes
1. Token Swap and Rebranding:
• FTM tokens will be swapped for S tokens at a 1:1 ratio.
• Trading for S pairs (S/BTC, S/BNB, S/ETH, etc.) begins on 2025-01-16 08:00 (UTC).
• Deposits for FTM will close on 2025-01-13 03:30 (UTC), and withdrawals for the new S tokens will open on 2025-01-16 07:00 (UTC).
2. FTM Trading and Services:
• FTM spot trading pairs will be delisted at 2025-01-13 03:00 (UTC).
• Futures and margin trading for FTM will cease earlier, with futures positions automatically settled by 2025-01-06 09:00 (UTC) and margin trading delisted by 2025-01-08 06:00 (UTC).
3. Binance Products Affected:
• Auto-Invest, Convert, Simple Earn, Dual Investment, and Buy & Sell Crypto will no longer support FTM by various dates leading up to 2025-01-13 (UTC).
Tokenomics Updates for Sonic (S)
• Initial Supply: Circulating supply of 2.88 billion S tokens, matching FTM’s supply at the Sonic chain launch.
• Inflation Rate: Annual inflation of 1.75% starting four years post-launch, with total supply capped at a 15% increase until 2031.
User Actions
Binance advises users to close positions, update trading bots, and transfer assets before the respective deadlines to avoid losses during the transition. The platform will handle the technical requirements of the token swap automatically.
For further details, refer to Binance’s official announcements.
