Sonic Labs will launch its own S token to replace FTM tokens at a 1:1 ratio, and will list it on 13 major exchanges.
The transition from #FTM to S should be seamless, with unlimited exchange access for 90 days.
Despite the transition, the #Fantom Network will continue to operate and there will be significant incentives to join the Sonic ecosystem.
Sonic Labs announced the launch of its own S #token , which will replace the existing FTM token at a 1:1 ratio. The move marks a major milestone for the #blockchain company, which intends to expand its ecosystem with the new token. The S token will debut on 13 major exchanges, including industry giants such as Binance and Bybit.
Andre Cronje co Founded Sonic Labs has developed a high-performance blockchain compatible with Solana and Ethereum virtual machines; the miner, which will launch on December 13, 2024, can process 10,000 transactions per second and complete a block in less than a second. The infrastructure promises to provide a smooth transition from
FTM to S for users; FTM holders can use the MySonic upgrade portal to upgrade their tokens to S on a one-to-one basis. For the first 90 days after the launch of the network, users can exchange S for FTM without any restrictions. After this period, only FTMs can be upgraded to Ss. This strategic move is aimed at optimizing user experience and strengthening Sonic's ecosystem.
S tokens will be listed on 13 major exchanges to ensure widespread distribution and liquidity. These exchanges will support automatic token updates through integration with the Sonic network. This broad listing strategy underscores Sonic Labs' commitment to making S tokens accessible to a wide audience Despite the transition to
S tokens, Fantom's network will remain operational with over $168 million in TVL. Fantom will remain a key player in the blockchain space, and Sonic Labs will allocate 190.5 million tokens to encourage participation and adoption in the Sonic ecosystem.
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