$BTC Binance has announced its support for the Fantom (FTM) token swap and rebranding to Sonic (S)
Key Dates and Actions:
January 13, 2025, 11:00 AM (Beijing Time):
All existing FTM spot trading pairs (FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT) will be delisted.
All pending FTM spot trade orders will be canceled.
January 16, 2025, 4:00 PM (Beijing Time):
Trading will commence for the following Sonic (S) pairs: S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT.
Implications for FTM Holders:
Automatic Conversion: Binance will handle the token swap automatically. FTM holders on Binance are not required to take any action for the conversion to S tokens.
Suspension of Deposits and Withdrawals: FTM deposits and withdrawals will be suspended during the swap process. Users should plan accordingly to avoid any inconvenience.
About the Rebranding:
The rebranding from Fantom to Sonic signifies a strategic shift aimed at enhancing the platform's capabilities and market position. Sonic Labs, formerly the Fantom Foundation, has launched the Sonic mainnet, emphasizing high transaction speeds and improved performance.
Recommendations for Users:
Stay Informed: Regularly check Binance's official announcements for any updates or changes to the timeline.
Review Open Orders: Ensure that any open FTM orders are managed before the delisting to prevent unexpected cancellations.
Monitor Account Balances: After the swap, verify that S tokens have been correctly credited to your account.
This transition reflects Sonic Labs' commitment to innovation and improved user experience within the blockchain ecosystem. Users are encouraged to familiarize themselves with the new features and opportunities presented by the Sonic platform.
For more detailed information, please refer to Binance's official announcement.
