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Caros Binancers,

Binance will support the swap and rebranding of Fantom (FTM) token to Sonic (S).

At 00:00 (BRT) on 1/13/2025, Binance will delist all FTM spot trading pairs (i.e. FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/ FDUSD, FTM/TRY, FTM/USDC and FTM/USDT) and will cancel all pending FTM spot trading orders. At 05:00 (BRT) on 1/16/2025, Binance will open trading for S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC and the pairs S/USDT trading.

General

  • Deposits and withdrawals

    • On 2025-01-13 00:30 (UTC), deposits and withdrawals of old FTM tokens will be suspended. Please make sure to leave enough time for your old FTM token deposits to be fully processed before this time.

    • S token deposits will be available on 01/16/2025 at 04:00 (UTC).

    • Binance will make a separate announcement after the event concludes to notify users about the opening of S token withdrawals.

    • After the event concludes, withdrawals of FTM tokens will no longer be accepted.

  • Binance will take care of all technical requirements for users involved in this event.

  • Users can refer to the project team's announcement for more information.

Take note of these key changes in tokenomics following this event:

  • The initial circulating supply of S will be around 2.88 billion, with a total initial supply of 3.175 billion, matching that of FTM at the launch of the Sonic blockchain.

  • Total supply of S:

    • It will increase and be capped at 15% until 2031 (excluding block fee rewards).

    • The annual inflation rate will be 1.75% four years after the launch of the Sonic blockchain.

  • The 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 S on Binance.

  • All FTM tokens will be exchanged for S at the rate of 1 FTM = 1 S.

Spot

  • On 2025-01-13 00:00 (UTC), Binance will delist and cease trading of all FTM spot trading pairs.

  • The exact trading pairs that are 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 removed automatically after trading of the respective trading pair ends.

  • Binance will terminate the Trading Bot services for the above-mentioned spot trading pairs at 2025-01-13 00:00 (UTC) where applicable. Users are advised to update and/or cancel Trading Bots before the termination of services to avoid potential losses.

  • Binance Spot Copy Trading will delist the above-mentioned spot trading pairs on 2025-01-12 00:00 (UTC). After this period, any pending spot trading pairs will be moved to the Spot Wallet. Users are advised to update or cancel their Spot Copy Trading portfolios before 2025-01-12 00:00 (UTC) to avoid potential losses.

  • Binance will open trading for 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).

Margin

  • Binance Margin will delist FTM from Cross and Isolated Margin at 2025-01-08 04:00 (UTC). The FTM/BTC, FTM/ETH, FTM/FDUSD, FTM/USDC, and FTM/USDT cross and isolated margin pairs will be delisted from Margin. Effective immediately, users will no longer be able to transfer any amount of the aforementioned tokens via manual transfers and Cross and Isolated Margin Auto Transfer Mode to their margin accounts. If users have outstanding liabilities of the aforementioned tokens, such users will only be able to manually transfer up to the amount of liabilities of these tokens to their margin accounts, minus any collateral already available.

    • On 2024/12/24 at 08:00 (UTC), Binance Margin will suspend isolated margin lending for the above-mentioned isolated margin pairs. On 2025/01/08 at 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic liquidation, and cancel all pending orders for the above-mentioned isolated margin pairs, which will then be removed from isolated margin.

    • On 2024/12/24 08:00 AM (UTC), Binance Margin will suspend cross-margin lending of the aforementioned tokens. On 2025/01/08 04:00 AM (UTC), if users have collateral and liabilities of the aforementioned tokens, the collateral will be used to pay off the corresponding liabilities. If there is any remaining collateral or liabilities of these aforementioned tokens, one of the following two things will happen:

      • If users hold the above mentioned tokens only in the form of collateral:

        • If the Collateral Margin Level (CML) is above 2, the aforementioned tokens will be transferred to users' Spot Wallets, up to the point where the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be removed will be sold off in full.

        • If CML is below 2, the remaining tokens in the Cross Margin accounts of users that are to be removed will be sold off in full.

      • If users hold the above tokens only in the form of liabilities:

        • If the CML is equal to or greater than 2, pending orders will not be affected. 

        • If the CML is below 2, all pending orders in your Cross Margin accounts will be cancelled.

        • The system will then sell other collateral tokens to buy and fully pay off the liabilities of the removed tokens.

  • Users will not be able to update their positions during the pair removal process and are advised to close their positions and/or transfer their assets from the Margin Wallet to the Spot Wallet before the margin trading closes at 2025-01-08 03:00 (UTC). Binance will not be responsible for any potential losses.

  • Portfolio Margin users are advised to transfer the above-mentioned tokens from their Margin Wallets to their Spot Wallets and top up the margin balance before 2025-01-08 03:00 (UTC) where applicable. Users should closely monitor the Unified Maintenance Margin Ratio (uniMMR) to avoid any potential liquidation that may result from the removal of the above-mentioned tokens from the Margin Wallet.

  • All FTM balances in the Cross Margin Wallet in the Portfolio Margin account will be automatically converted to USDC starting from 2025-01-08 03:00 (UTC). The conversion may take approximately 24 hours or more. Binance Margin will not be responsible for any losses related to new positions that may occur due to the conversion of funds during this period. Please refer to this FAQ for more information.

  • An additional announcement will be made informing of the relisting.

Loans

  • Starting from 2025-01-08 00:00 (UTC), Binance Loans (Flexible & Stable Rates) and VIP Lending will close all outstanding lending positions for FTM (both lending tokens and collateral tokens will be closed). Users are advised to repay their outstanding FTM loans before 2025-01-08 00:00 (UTC) to avoid potential losses.

Simple Earn

  • Starting January 10, 2025 at 00:00 (UTC), Binance Simple Earn will end support for Simple Earn FTM Locked and Flexible Products. Subscriptions will no longer be available.

  • Starting on 10/01/2025 at 00:00 (UTC), all remaining FTM Locked and Flexible Product positions, along with any accumulated rewards, will be automatically redeemed to users’ Spot Wallets. Users can choose to redeem their Simple Earn FTM Locked or Flexible Product assets at any time in advance.

  • After 2025-01-16 05:00 (UTC), Binance Simple Earn will re-subscribe the converted S assets of affected users to Flexible Products only at the above swap rate after the event is completed.

Dual Investment 

  • From 06/01/2025 05:00 (BRT):

    • Binance will end support for FTM Buy Low Sell High products and users will not be able to subscribe to FTM-USDT, FTM-FDUSD or FTM-USDC products.

    • Subscription with settlement day 10/01/2025 will be settled normally and assets including rewards will be distributed to users' Spot Wallets within 4 hours.

  • After 2025-01-16 05:00 (UTC), Binance will automatically upgrade all FTM Buy Low Sell High products to S Buy Low Sell High products.

Binance Pay

  • On 01/09/2025 at 00:00 (BRT), Binance will remove FTM from the list of cryptocurrencies accepted by Binance Pay.

Gift Card

  • Starting from 2025-01-13 00:00 (UTC), Binance will no longer support the creation of FTM Gift Cards.

    • Users can redeem any unredeemed FTM Gift Cards for FTM tokens before 2025-01-13 00:00 (BRT)

Convert

  • Binance Convert will remove FTM and all associated pairs on 01/12/2025 23:00 (UTC).

Automatic Investment

  • Binance Auto Invest will remove FTM after 2025-01-08 00:00 (UTC). Users can opt to remove the plans in advance. Otherwise, the next recurring cycle of the aforementioned tokens will fail.

Conversion of low-value assets

  • Low-Value Asset Conversion will delist FTM on 2025-01-11 23:00 (UTC). Users can choose to convert low-value assets in advance.

Buy and sell cryptocurrencies

  • On 01/08/2025 at 00:00 (BRT), Buy and Sell Cryptocurrencies will remove FTM and all associated pairs.

Please note: There may be discrepancies between the original English content and any translated versions. Please refer to the original English version for the most accurate information should any discrepancies arise.

Thank you for your support!

Binance Team

24/12/2024

USDC is an electronic money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). The USDC whitepaper is available here. You can contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com.

USDC holders have a legal claim against Circle SAS as the issuer of USDC in the EU. These holders have the right to request redemption of their USDC from Circle SAS. This redemption will be made at any time and at nominal value.