Binance has introduced its assist for the rebranding and token swap of Fantom (FTM) to Sonic (S).
The transition will contain delisting all current FTM buying and selling pairs, changing them with Sonic (S) buying and selling pairs, and swapping all FTM tokens for the brand new Sonic tokens on a 1:1 foundation.
The method begins on January 13, 2025, at 6:00 AM, when Binance will take away all FTM buying and selling pairs, together with FTM/USDT, FTM/BTC, and others. Pending orders and buying and selling bot actions for these pairs may also be canceled. Deposits and withdrawals for FTM will likely be suspended beginning at 6:30 AM on the identical day.
The introduction of Sonic tokens will observe shortly after. Deposits for Sonic will open on January 16 at 10:00 AM, with buying and selling beginning at 11:00 AM. Binance will launch new buying and selling pairs for Sonic, together with S/USDT, S/BNB, and S/ETH. Withdrawals for Sonic will likely be enabled after the token swap is absolutely accomplished.
The brand new Sonic token will launch with an preliminary circulating provide of two.88 billion tokens and a complete provide of three.175 billion, reflecting Fantom’s current provide. The overall provide is anticipated to develop at a managed price of 15% yearly till 2031, excluding block rewards, and can stabilize at an annual inflation price of 1.75% after 4 years.
This rebranding and token swap symbolize a major shift for the Fantom ecosystem, with Binance facilitating a clean transition for its customers as Sonic goals to redefine its imaginative and prescient and capabilities.
