Binance has announced the delisting of Fantom and officially introduced the Sonic token with a token swap rate of 1:1 in 2025. Binance has officially announced support for the rebranding and token swap of Fantom (FTM) to Sonic, with the token swap expected in early 2025.
The exchange will stop processing FTM deposits and withdrawals at 3:30 UTC on January 13, 2025, and delist all trading pairs involving FTM, including FTM/BTC, FTM/USDT, and FTM/ETH. Subsequently, trading for the new Sonic coin (S) will open on January 16, 2025, with pairs including S/BTC, S/BNB, and S/USDT officially operational.
FTM tokens will be converted to Sonic at a 1:1 ratio, meaning users will receive the same number of Sonic tokens for each FTM they hold. All technical aspects of the swap process will be managed by Binance, so users will not need to do anything themselves. However, FTM withdrawals will not be supported after the token swap process is complete.
The token swap aligns with Binance's history of supporting token migrations, such as the famous conversion of MATIC to POL, in which Binance facilitated the process for users.
Futures, Margin Trading, and Simple Earn are among the services that Binance will upgrade as part of the transition process. In the affected products, FTM will be replaced by the new S token.
With a total supply set at an annual inflation rate of 15% until 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 will be eligible to receive up to 90% of the revenue generated by their applications. Additionally, the platform will provide airdrop of 190 million S and an Innovation Fund to encourage users of the Sonic and Opera chains.
Users' FTM tokens will continue to function on the Opera network in the near future if they choose not to upgrade to the S token. However, users will need to hold S tokens to participate in transactions, management, and other activities on the new Sonic network.
The main points to note here are:
At 3:30 UTC on January 13, 2025, all FTM trading pairs will be delisted, and deposits and withdrawals will be halted.
Trading for the Sonic token (S) will begin at 8:00 UTC on January 16, 2025, with pairs such as S/USDT, S/BTC, and S/BNB.
