Binance has announced its support for the upcoming token swap and rebranding of Fantom (FTM) to Sonic (S).
Binance to Support Fantom (FTM) Token Swap and Rebrand as Sonic (S)
This transition will include delisting existing FTM trading pairs, replacing all FTM tokens with S tokens, and introducing new Sonic (S) trading pairs.
Token Swap and Trading Changes
FTM Trading Pairs Are Being Delisted:
At 06:00 on January 13, 2025, 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 cancelled.
New Sonic (S) Trading Pairs:
Trading of the new Sonic (S) token will begin on January 16, 2025 at 11:00 AM with pairs including S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT.
Deposit and Withdrawal
FTM Deposit and Withdrawal İşlemlerinin Askıya Alınması:
FTM deposits and withdrawals will be suspended at 06:30 on January 13, 2025.
Opening S Token Deposits:
Deposits for Sonic (S) tokens will begin at 10:00 AM on January 16, 2025. Withdrawals for S tokens will be enabled after the swap event is fully completed.
Tokenomics Changes
Supply Details:
The initial circulating supply of the S will be approximately 2.88 billion, with an initial total supply of 3.175 billion, mirroring the supply of FTM at launch on the Sonic chain.
The total supply will increase at a limited rate of 15% until 2031, excluding block rate rewards.
After four years, the annual inflation rate for S will stabilize at 1.75%.
Exchange Rate:
All FTM tokens will be converted to Sonic (S) at a 1:1 ratio.
*This is not investment advice.
Read the full article here
