Binance Announces Support for Fantom Rebranding and Token Swap to Sonic

Binance has officially announced its support for the rebranding and token swap of Fantom (FTM) to Sonic, set for an early 2025 token swap. The exchange will stop processing FTM deposits and withdrawals at 3:30 UTC on January 13, 2025, and delist all FTM trading pairs, including FTM/BTC, FTM/USDT, and FTM/ETH.

Token Swap Details

After the delisting, trading for the new Sonic (S) coin will open on January 16, 2025, when pairings including S/BTC, S/BNB, and S/USDT will become live. The FTM tokens will be converted to Sonic at a 1:1 ratio, which means that users will get the same number of Sonic tokens for each FTM they own. All technical parts of the swap will be managed by Binance, so users won’t need to do anything on their own.

Important Dates and Reminders

Binance encourages FTM token holders to update or terminate any open positions in FTM-related services, including loans, margin positions, and trading bots before the deadline. Key points to note are:

  • At 3:30 UTC on January 13, 2025, all FTM trading pairs will be delisted, and deposits and withdrawals will be halted.
  • Sonic (S) token trading starts at 8:00 UTC on January 16, 2025, with pairs such as S/USDT, S/BTC, and S/BNB.

Upcoming Changes and Incentives

Futures, Margin Trading, and Simple Earn are among the services that Binance will be upgrading as part of the transition. In the affected products, FTM will be replaced by the new S token. The Sonic network will also provide incentives, including:

  • A total supply cap set at 15% yearly inflation until 2031, resulting in approximately 2.88 billion S tokens in circulation at launch.
  • Up to 90% of the funds produced by apps will be eligible for users as part of an incentive program to attract developers to the Sonic network.
  • A 190 million S airdrop and an Innovator Fund to encourage users of the Sonic and Opera chains.

Users’ FTM tokens will remain functional on the Opera network for the foreseeable future if they decide not to upgrade to the S token. However, users will need to possess the S token to engage in transactions, governance, and other activities on the new Sonic network.

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