Upbit, a trusted global digital asset exchange, has announced plans to support trading for Sonic SVM (SONIC) in its KRW, BTC, and USDT markets.
Liquidity and Trading Timeline
Upbit stated that securing sufficient liquidity for stable trading of Sonic SVM (SONIC) would require some time. The platform plans to provide a detailed announcement at least one hour prior to the trading support activation.
Deposits and withdrawals for SONIC will be supported on the Solana network. Users are advised to check the network carefully before initiating transactions.
Trading Restrictions
To ensure a smooth launch, Upbit will implement the following restrictions during the initial phase:
- Buy Restriction: Buying orders will be restricted for approximately five minutes after trading begins.
- Minimum Sell Price Restriction: The minimum sell price will be announced one hour before trading support starts.
- Order Type Restrictions: Only limit orders will be allowed for approximately one hour after trading begins.
Deposit Guidelines
Users must adhere to the following deposit rules to avoid delays or issues:
- Network Confirmation: Deposits are supported exclusively on the SONIC-Solana network.
- Travel Rule Compliance: Deposits made from exchanges not included in the list of Travel Rule-compliant virtual asset service providers will not be processed.
- Personal Wallet Verification: Only deposits from verified personal wallet addresses will be accepted.
- Source of Funds Verification: High-value deposits may require users to provide documentation on the source of funds.
About Sonic SVM
Sonic SVM is a rollup network on Solana, designed to address potential network congestion issues arising during on-chain game development. It aims to enhance the Solana gaming ecosystem by leveraging its proprietary HyperGrid system to build game-dedicated rollups on Solana.
- Official Website: Sonic SVM Website
- Social Media (X): Sonic SVM on X
- Whitepaper: Sonic SVM Whitepaper
Upbit’s support for SONIC is expected to boost its visibility and adoption within the global digital asset community, particularly among those focused on blockchain-based gaming solutions.
