Binance has announced its support for the upcoming token swap and rebranding of Fantom (FTM) to Sonic (S). This transition will involve delisting existing FTM trading pairs, swapping all FTM tokens to S tokens, and introducing new Sonic (S) trading pairs.
Key Details
Token Swap and Trading Changes
- Delisting FTM Trading Pairs:
On January 13, 2025, at 03:00 (UTC), Binance will delist all FTM trading pairs, including FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC, and FTM/USDT. Pending FTM orders and Trading Bots will also be canceled. - New Sonic (S) Trading Pairs:
Trading for the new Sonic (S) token will commence on January 16, 2025, at 08:00 (UTC), with pairs including S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT.
Deposits and Withdrawals
- Suspension of FTM Deposits and Withdrawals:
Deposits and withdrawals of FTM will cease on January 13, 2025, at 03:30 (UTC). - Opening of S Token Deposits:
Deposits for Sonic (S) tokens will begin on January 16, 2025, at 07:00 (UTC). Withdrawals for S tokens will be enabled after the swap event is fully completed.
Tokenomics Changes
- Supply Details:
The initial circulating supply of S will be approximately 2.88 billion, with an initial total supply of 3.175 billion, mirroring FTM’s supply at the launch of the Sonic chain.- The total supply will increase at a capped rate of 15% until 2031, excluding block rate rewards.
- After four years, the annual inflation rate for S will stabilize at 1.75%.
- Swap Ratio:
All FTM tokens will be converted to Sonic (S) at a 1:1 ratio.
Impact on Trading Bots and Copy Trading
- Binance Trading Bots for FTM pairs will terminate on January 13, 2025, at 03:00 (UTC). Users should update or cancel their bots in advance.
- Spot Copy Trading portfolios with FTM pairs will be automatically moved to the Spot Wallet by January 12, 2025, at 03:00 (UTC).
Risk Warning and User Guidance
A risk warning banner and notification will appear on the Binance trading page following the swap event. Binance will manage all technical requirements for the swap to ensure a seamless process for users.
For more information, users can refer to Binance’s official announcements or the project team’s updates.
