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Fantom (FTM) to Be Delisted from Major Exchanges Including Binance.
The cryptocurrency landscape is set to witness a significant transformation as Binance, one of the world's leading cryptocurrency exchanges, announces its full support for Fantom's upcoming rebrand to Sonic. This strategic transition, scheduled for early 2025, marks a pivotal moment in the evolution of the Fantom ecosystem.
A Seamless Transition
Starting January 13, 2025, Binance will initiate a comprehensive token swap process, converting all existing Fantom (FTM) tokens to the new Sonic (S) tokens. In a move designed to prioritize user convenience, Binance will handle the entire conversion process automatically, requiring no action from token holders. The exchange plans to temporarily pause trading during this transition, with the new Sonic tokens scheduled to commence trading on January 16, 2025.
Trading Landscape Transformation
The transition will bring about a complete overhaul of existing trading pairs. Current FTM trading pairs, including those paired with major cryptocurrencies like Bitcoin and Ethereum, as well as various fiat currencies, will undergo rebranding. The new Sonic (S) token will maintain these crucial trading relationships, ensuring continuity while embracing its new identity. This restructuring encompasses pairings with BTC, BNB, ETH, EUR, FDUSD, TRY, USDC, and USDT, preserving the broad trading options that traders have come to expect.
Operational Changes and Timeline
To facilitate a smooth transition, Binance has outlined a clear schedule for operational changes. The exchange will suspend FTM deposits and withdrawals on January 13, 2025. Following the token swap, Sonic (S) deposits will become available on January 16, 2025, with withdrawal capabilities to be activated upon completion of the swap event. This structured approach aims to minimize disruption while ensuring security throughout the transition process.
Understanding Sonic's Economic Framework
The launch of Sonic introduces a carefully crafted tokenomics model designed for sustainable growth. The ecosystem will begin with approximately 2.88 billion tokens in circulation, expanding to a total initial supply of 3.175 billion tokens. Looking ahead, the framework includes a planned 15% supply increase through 2031, excluding block rewards. This expansion will eventually stabilize at a modest 1.75% annual inflation rate after four years, reflecting a commitment to long-term economic sustainability.
Impact and Future Prospects
This transition represents more than just a rebranding exercise; it signifies a fundamental evolution in the ecosystem's approach to blockchain technology and cryptocurrency markets. The move to Sonic, backed by Binance's robust infrastructure and market presence, positions the project for potential growth while maintaining the trust and functionality that users have come to expect from the Fantom ecosystem.
The transition from Fantom to Sonic, backed by Binance's robust infrastructure, marks a pivotal moment for the cryptocurrency ecosystem. This shift could reshape market dynamics, offering new opportunities in the digital asset space. While ensuring a smooth token swap is the immediate priority, the long-term impact of this evolution may significantly influence the blockchain landscape. As the implementation date nears, the community awaits the potential innovations this change could bring.
#fantom #FTM #SONIC #S #Binance $FTM
A Seamless Transition
Starting January 13, 2025, Binance will initiate a comprehensive token swap process, converting all existing Fantom (FTM) tokens to the new Sonic (S) tokens. In a move designed to prioritize user convenience, Binance will handle the entire conversion process automatically, requiring no action from token holders. The exchange plans to temporarily pause trading during this transition, with the new Sonic tokens scheduled to commence trading on January 16, 2025.
Trading Landscape Transformation
The transition will bring about a complete overhaul of existing trading pairs. Current FTM trading pairs, including those paired with major cryptocurrencies like Bitcoin and Ethereum, as well as various fiat currencies, will undergo rebranding. The new Sonic (S) token will maintain these crucial trading relationships, ensuring continuity while embracing its new identity. This restructuring encompasses pairings with BTC, BNB, ETH, EUR, FDUSD, TRY, USDC, and USDT, preserving the broad trading options that traders have come to expect.
Operational Changes and Timeline
To facilitate a smooth transition, Binance has outlined a clear schedule for operational changes. The exchange will suspend FTM deposits and withdrawals on January 13, 2025. Following the token swap, Sonic (S) deposits will become available on January 16, 2025, with withdrawal capabilities to be activated upon completion of the swap event. This structured approach aims to minimize disruption while ensuring security throughout the transition process.
Understanding Sonic's Economic Framework
The launch of Sonic introduces a carefully crafted tokenomics model designed for sustainable growth. The ecosystem will begin with approximately 2.88 billion tokens in circulation, expanding to a total initial supply of 3.175 billion tokens. Looking ahead, the framework includes a planned 15% supply increase through 2031, excluding block rewards. This expansion will eventually stabilize at a modest 1.75% annual inflation rate after four years, reflecting a commitment to long-term economic sustainability.
Impact and Future Prospects
This transition represents more than just a rebranding exercise; it signifies a fundamental evolution in the ecosystem's approach to blockchain technology and cryptocurrency markets. The move to Sonic, backed by Binance's robust infrastructure and market presence, positions the project for potential growth while maintaining the trust and functionality that users have come to expect from the Fantom ecosystem.
The transition from Fantom to Sonic, backed by Binance's robust infrastructure, marks a pivotal moment for the cryptocurrency ecosystem. This shift could reshape market dynamics, offering new opportunities in the digital asset space. While ensuring a smooth token swap is the immediate priority, the long-term impact of this evolution may significantly influence the blockchain landscape. As the implementation date nears, the community awaits the potential innovations this change could bring.
#fantom #FTM #SONIC #S #Binance $FTM
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