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Binance Announcement
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Binance Will Support the Fantom (FTM) Token Swap and Rebranding to Sonic (S)
This is a general announcement and marketing communication. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance will support the Fantom (FTM) token swap and rebranding to Sonic (S).
At 2025-01-13 03:00 (UTC), Binance will delist all existing FTM spot trading pairs (i.e., FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT) and cancel all pending FTM spot trading orders. At 2025-01-16 08:00 (UTC), Binance will open trading for the S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT trading pairs.
General
Deposits and WithdrawalsAt 2025-01-13 03:30 (UTC), deposits and withdrawals of FTM tokens will be suspended. Please ensure that you leave sufficient time for your FTM token deposits to be fully processed prior to this time. Deposits of S tokens will be opened at 2025-01-16 07:00 (UTC).Binance will make a separate announcement after the event is completed to notify users when withdrawals of S tokens have opened.After the event is complete, withdrawals of FTM tokens will no longer be supported.Binance will handle all technical requirements for users who are involved in this event.Users may refer to the announcement from the project team for more information.
Please take note of these key tokenomics changes after this event:
Initial circulating supply of S will be around 2.88 billion, with an initial total supply of 3.175 billion, matching FTM's at Sonic chain launch.Total supply of S:Will increase and be capped at 15% until 2031 (excluding block rate rewards).Annual inflation rate will be at 1.75%, four years after Sonic chain launch.Risk warning banner and pop-up notification will be displayed on the Binance trading page after this event.More information can be found here.
Token Swap and Rebranding
FTM tokens will assume the ticker of S on Binance. All FTM tokens will be swapped to S at a ratio of 1 FTM = 1 S.
Spot
At 2025-01-13 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for FTM. The exact trading pairs being removed are: FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT.All trade orders will be automatically removed after trading ceases in each respective trading pair.Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2025-01-13 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.Binance Spot Copy Trading will delist the aforementioned spot trading pairs on 2025-01-12 03:00 (UTC). After this time, any outstanding spot trading pairs will be moved to the Spot Wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2025-01-12 03:00 (UTC) to avoid potential losses.Binance will open trading for the S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT trading pairs at 2025-01-16 08:00 (UTC).
Futures
Binance Futures will close all positions and conduct an automatic settlement on the FTMUSDT USDā-M and FTMUSD COIN-M Perpetual Contracts at 2025-01-06 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contract(s) starting from 2025-01-06 08:30 (UTC). All FTM positive balances in COIN-M Wallets under the Portfolio Margin account will be automatically transferred to Cross Margin Wallet after the settlement is complete. For those who do not have a Portfolio Margin account, the balances in COIN-M Wallets will be transferred to Spot Wallet.All FTM negative balances in COIN-M Wallets under the Portfolio Margin account will conduct an auto-repayment process after the settlement is complete. The conversion may take approximately 24 hours or longer. Binance will not be liable for any losses on new positions during this period that may incur as a result of the conversion of funds. Refer to this FAQ for more information.In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the FTMUSDT USDā-M and FTMUSD COIN-M Perpetual Contracts without further announcements, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. A separate announcement will be made for relisting.At 2025-01-06 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the FTM symbols.
Margin
Binance Margin will delist FTM from Cross and Isolated Margin at 2025-01-08 06:00 (UTC). The FTM/BTC, FTM/ETH, FTM/FDUSD, FTM/USDC and FTM/USDT cross and isolated margin pair(s) will be removed from Margin. Effective immediately, users will no longer be able to transfer any amount of the aforementioned token(s) via manual transfers and Auto-Transfer Mode for Cross and Isolated Margin into their margin accounts. If users hold outstanding liabilities of said tokens, these users may only manually transfer up to the amount of liabilities of that token into their margin accounts, less any collateral already available.At 2024-12-24 11:00 (UTC), Binance Margin will suspend isolated margin borrowings on the aforementioned isolated margin pair(s). At 2025-01-08 06:00 (UTC), Binance Margin will close usersā positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair(s), which will then be removed from isolated margin.At 2024-12-24 11:00 (UTC), Binance Margin will suspend cross margin borrowings on the aforementioned token(s). At 2025-01-08 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:If users only hold the aforementioned token(s) in the form of collateral: If the Collateral Margin Level (CML) is above 2, the aforementioned token(s) will be transferred to usersā Spot Wallets, up to the point when the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be delisted will then be fully sold. If the CML is below 2, the remaining tokens in usersā Cross Margin accounts that are to be delisted will be fully sold. If users only hold the aforementioned token(s) in the form of liabilities:If CML is at or above 2, pending orders will not be affected. If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled. The system will then sell other collateral tokens to buy and fully repay the delisting token(s)ā liabilities.
Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2025-01-08 06:00 (UTC). Binance will not be responsible for any potential losses.
Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2025-01-08 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Wallet. All FTM balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDC from 2025-01-08 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information.A separate announcement will be made for relisting.
Loans
At 2025-01-08 03:00 (UTC), Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for FTM (both loanable tokens and collateral tokens will be closed). Users are strongly advised to repay their outstanding FTM loans before 2025-01-08 03:00 (UTC) to avoid any potential losses.
Please refer to the Binance Loans (Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions.
Simple Earn
From 2025-01-10 03:00 (UTC), Binance Simple Earn will cease support for FTM Simple Earn Flexible and Locked Products. Subscriptions will no longer be available. From 2025-01-10 03:00 (UTC), all remaining FTM Flexible and Locked Products positions, together with any accrued rewards, will be automatically redeemed to usersā Spot Wallets. Users can choose to redeem their assets from FTM Simple Earn Flexible or Locked Products anytime beforehand.After 2025-01-16 08:00 (UTC), Binance Simple Earn will resubscribe the converted S assets for only Flexible Product for impacted users, according to the above swap ratio after the event is complete.
Dual Investment
From 2025-01-06 08:00 (UTC):Binance will cease the support for FTM Buy Low and Sell High products and users are unable to subscribe to FTM-USDT, FTM-FDUSD, or FTM-USDC products. The subscription with the settlement day of 2025-01-10 will be settled as usual and the asset including rewards will be distributed to usersā Spot Wallets within 4 hours. After 2025-01-16 08:00 (UTC), Binance will automatically update all FTM Buy Low and Sell High products to S Buy Low and Sell High products.
Binance Pay
At 2025-01-09 03:00 (UTC), Binance will remove FTM from the list of supported cryptocurrencies on Binance Pay.
Gift Card
At 2025-01-13 03:00 (UTC), Binance will no longer support the creation of FTM Gift Cards.Users may proceed to redeem any unredeemed FTM Gift Cards for FTM tokens before 2025-01-13 03:00 (UTC)
Convert
Binance Convert will delist FTM and all associated pairs at 2025-01-13 02:00 (UTC).
Auto-Invest
Binance Auto-Invest will delist FTM after 2025-01-08 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.
Convert Low-Value Assets
Convert Low-Value Assets will delist FTM at 2025-01-12 02:00 (UTC). Users may choose to convert the low-value assets beforehand.
Buy & Sell Crypto
At 2025-01-08 03:00 (UTC), Buy & Sell Crypto will delist FTM and all associated pairs.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-12-24
USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDCās whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com.
Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
Fellow Binancians,
Binance will support the Fantom (FTM) token swap and rebranding to Sonic (S).
At 2025-01-13 03:00 (UTC), Binance will delist all existing FTM spot trading pairs (i.e., FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT) and cancel all pending FTM spot trading orders. At 2025-01-16 08:00 (UTC), Binance will open trading for the S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT trading pairs.
General
Deposits and WithdrawalsAt 2025-01-13 03:30 (UTC), deposits and withdrawals of FTM tokens will be suspended. Please ensure that you leave sufficient time for your FTM token deposits to be fully processed prior to this time. Deposits of S tokens will be opened at 2025-01-16 07:00 (UTC).Binance will make a separate announcement after the event is completed to notify users when withdrawals of S tokens have opened.After the event is complete, withdrawals of FTM tokens will no longer be supported.Binance will handle all technical requirements for users who are involved in this event.Users may refer to the announcement from the project team for more information.
Please take note of these key tokenomics changes after this event:
Initial circulating supply of S will be around 2.88 billion, with an initial total supply of 3.175 billion, matching FTM's at Sonic chain launch.Total supply of S:Will increase and be capped at 15% until 2031 (excluding block rate rewards).Annual inflation rate will be at 1.75%, four years after Sonic chain launch.Risk warning banner and pop-up notification will be displayed on the Binance trading page after this event.More information can be found here.
Token Swap and Rebranding
FTM tokens will assume the ticker of S on Binance. All FTM tokens will be swapped to S at a ratio of 1 FTM = 1 S.
Spot
At 2025-01-13 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for FTM. The exact trading pairs being removed are: FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT.All trade orders will be automatically removed after trading ceases in each respective trading pair.Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2025-01-13 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.Binance Spot Copy Trading will delist the aforementioned spot trading pairs on 2025-01-12 03:00 (UTC). After this time, any outstanding spot trading pairs will be moved to the Spot Wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2025-01-12 03:00 (UTC) to avoid potential losses.Binance will open trading for the S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT trading pairs at 2025-01-16 08:00 (UTC).
Futures
Binance Futures will close all positions and conduct an automatic settlement on the FTMUSDT USDā-M and FTMUSD COIN-M Perpetual Contracts at 2025-01-06 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contract(s) starting from 2025-01-06 08:30 (UTC). All FTM positive balances in COIN-M Wallets under the Portfolio Margin account will be automatically transferred to Cross Margin Wallet after the settlement is complete. For those who do not have a Portfolio Margin account, the balances in COIN-M Wallets will be transferred to Spot Wallet.All FTM negative balances in COIN-M Wallets under the Portfolio Margin account will conduct an auto-repayment process after the settlement is complete. The conversion may take approximately 24 hours or longer. Binance will not be liable for any losses on new positions during this period that may incur as a result of the conversion of funds. Refer to this FAQ for more information.In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the FTMUSDT USDā-M and FTMUSD COIN-M Perpetual Contracts without further announcements, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. A separate announcement will be made for relisting.At 2025-01-06 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the FTM symbols.
Margin
Binance Margin will delist FTM from Cross and Isolated Margin at 2025-01-08 06:00 (UTC). The FTM/BTC, FTM/ETH, FTM/FDUSD, FTM/USDC and FTM/USDT cross and isolated margin pair(s) will be removed from Margin. Effective immediately, users will no longer be able to transfer any amount of the aforementioned token(s) via manual transfers and Auto-Transfer Mode for Cross and Isolated Margin into their margin accounts. If users hold outstanding liabilities of said tokens, these users may only manually transfer up to the amount of liabilities of that token into their margin accounts, less any collateral already available.At 2024-12-24 11:00 (UTC), Binance Margin will suspend isolated margin borrowings on the aforementioned isolated margin pair(s). At 2025-01-08 06:00 (UTC), Binance Margin will close usersā positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair(s), which will then be removed from isolated margin.At 2024-12-24 11:00 (UTC), Binance Margin will suspend cross margin borrowings on the aforementioned token(s). At 2025-01-08 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:If users only hold the aforementioned token(s) in the form of collateral: If the Collateral Margin Level (CML) is above 2, the aforementioned token(s) will be transferred to usersā Spot Wallets, up to the point when the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be delisted will then be fully sold. If the CML is below 2, the remaining tokens in usersā Cross Margin accounts that are to be delisted will be fully sold. If users only hold the aforementioned token(s) in the form of liabilities:If CML is at or above 2, pending orders will not be affected. If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled. The system will then sell other collateral tokens to buy and fully repay the delisting token(s)ā liabilities.
Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2025-01-08 06:00 (UTC). Binance will not be responsible for any potential losses.
Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2025-01-08 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Wallet. All FTM balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDC from 2025-01-08 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information.A separate announcement will be made for relisting.
Loans
At 2025-01-08 03:00 (UTC), Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for FTM (both loanable tokens and collateral tokens will be closed). Users are strongly advised to repay their outstanding FTM loans before 2025-01-08 03:00 (UTC) to avoid any potential losses.
Please refer to the Binance Loans (Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions.
Simple Earn
From 2025-01-10 03:00 (UTC), Binance Simple Earn will cease support for FTM Simple Earn Flexible and Locked Products. Subscriptions will no longer be available. From 2025-01-10 03:00 (UTC), all remaining FTM Flexible and Locked Products positions, together with any accrued rewards, will be automatically redeemed to usersā Spot Wallets. Users can choose to redeem their assets from FTM Simple Earn Flexible or Locked Products anytime beforehand.After 2025-01-16 08:00 (UTC), Binance Simple Earn will resubscribe the converted S assets for only Flexible Product for impacted users, according to the above swap ratio after the event is complete.
Dual Investment
From 2025-01-06 08:00 (UTC):Binance will cease the support for FTM Buy Low and Sell High products and users are unable to subscribe to FTM-USDT, FTM-FDUSD, or FTM-USDC products. The subscription with the settlement day of 2025-01-10 will be settled as usual and the asset including rewards will be distributed to usersā Spot Wallets within 4 hours. After 2025-01-16 08:00 (UTC), Binance will automatically update all FTM Buy Low and Sell High products to S Buy Low and Sell High products.
Binance Pay
At 2025-01-09 03:00 (UTC), Binance will remove FTM from the list of supported cryptocurrencies on Binance Pay.
Gift Card
At 2025-01-13 03:00 (UTC), Binance will no longer support the creation of FTM Gift Cards.Users may proceed to redeem any unredeemed FTM Gift Cards for FTM tokens before 2025-01-13 03:00 (UTC)
Convert
Binance Convert will delist FTM and all associated pairs at 2025-01-13 02:00 (UTC).
Auto-Invest
Binance Auto-Invest will delist FTM after 2025-01-08 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.
Convert Low-Value Assets
Convert Low-Value Assets will delist FTM at 2025-01-12 02:00 (UTC). Users may choose to convert the low-value assets beforehand.
Buy & Sell Crypto
At 2025-01-08 03:00 (UTC), Buy & Sell Crypto will delist FTM and all associated pairs.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-12-24
USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDCās whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com.
Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
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