$FTM 🦅
🦅Binance has announced its support for the rebranding and token swap of Fantom ($FTM ) to Sonic (S), scheduled for early January 2025.
Key Dates and Actions💥
January 13, 2025🦅
At 03:00 UTC, Binance will delist all FTM spot trading pairs, including FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT.
At 03:30 UTC, deposits and withdrawals of #FTM. will be suspended.
January 16, 2025💥
At 07:00 UTC, deposits for Sonic (S) tokens will open.
At 08:00 UTC, trading for Sonic (S) spot pairs, such as S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT, will commence.
Token Swap Details🦅
All FTM tokens held on Binance will be automatically converted to Sonic (S) at a 1:1 ratio.
Users are not required to take any action for this conversion.
Service Adjustments🦅
Futures and Margin Trading:
#FTM -related contracts will be settled and delisted on January 6, 2025.
FTM will be removed from Cross and Isolated Margin on January 8, 2025.
Loans, Simple Earn, and Auto-Invest:
FTM products will cease support by mid-January 2025.
Other Services:
FTM will be removed from Binance Pay, Convert, and Gift Cards by mid-January 2025.
Tokenomics of Sonic (S):
Initial circulating supply: approximately 2.88 billion tokens.
Initial total supply: 3.175 billion tokens, mirroring #FTM: supply at launch on the Sonic chain.
Total supply will increase at a limited rate of 15% until 2031, excluding block rate rewards.
After four years, the annual inflation rate for S will stabilize at 1.75%.
This strategic upgrade to the Sonic blockchain aims to enhance performance, scalability, and user experience, fostering innovation and ecosystem growth.