The cryptocurrency landscape is evolving rapidly, and one of the most significant developments in early 2025 is the transition of the Fantom (FTM) token to its next-generation blockchain, now rebranded as Sonic (S). In response, Bitget, a leading digital asset exchange, has announced full support for the token swap, ensuring a seamless migration for users. This upgrade marks a pivotal shift in scalability, speed, and ecosystem growth—positioning Sonic as a strong contender in the Layer-1 blockchain space.
Below is a comprehensive overview of the changes, timelines, and implications for users holding FTM on Bitget.
Key Dates and Service Adjustments
To facilitate a smooth transition, Bitget has outlined a detailed schedule for phasing out FTM-related services and introducing support for the new S token.
Token Deposit and Withdrawal
- FTM deposits and withdrawals will be suspended on January 13, 2025, at 11:30 UTC+8.
- After the token swap is complete, S deposits and withdrawals will be enabled. The exact launch time will be announced separately.
- Old FTM tokens will no longer be supported for deposit after the migration.
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Token Swap Mechanics
- The rebranding involves a direct 1:1 conversion from FTM to S.
- All existing FTM balances will be automatically swapped to S.
- Bitget will handle all technical aspects—users do not need to manually initiate the swap.
- The new S token will reflect updated tokenomics aligned with the Sonic mainnet launch.
Updated Tokenomics of Sonic (S)
The rebranded Sonic (S) introduces a refined economic model designed for long-term sustainability and performance.
- Initial circulating supply: ~2.88 billion S
- Initial total supply: 3.175 billion S
These figures match the original FTM supply upon Sonic chain’s mainnet deployment, ensuring continuity and fairness.
Supply Growth Controls
- Supply cap: Annual inflation is capped at 1.75% starting four years after mainnet launch.
- Growth limit: Total supply increase limited to 15% by 2031, excluding block rewards.
- This controlled inflation supports network security while minimizing dilution for long-term holders.
Trading and Derivatives Adjustments
Bitget is systematically updating its trading services to align with the transition.
Spot Trading
- The FTM/USDT and FTM/EUR spot trading pairs will be delisted on January 13, 2025, at 11:00 UTC+8.
- All open orders will be canceled automatically; assets will be returned to user accounts.
- The S/USDT trading pair is expected to go live by January 16, 2025, at 16:00 UTC+8, or earlier.
Trading Bots
- FTM/USDT will be removed from spot trading bots effective January 13, 2025.
- Any bot strategies featuring delisted pairs in the “Recommended Bots” section will be removed.
- Users are strongly advised to terminate active bots using FTM to avoid unintended outcomes.
Futures (Contract Trading)
- New long or short positions for FTM/USDT contracts will be disabled starting December 31, 2024, at 15:00 UTC+8.
- Existing positions can still be managed—liquidation, stop-loss, and take-profit functions remain active.
- All open FTM contract positions must be closed by January 6, 2025, at 15:00 UTC+8.
- After this deadline, Bitget will forcibly settle remaining positions and cancel pending orders.
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Spot Margin Trading
- FTM/USDT margin trading will be discontinued on January 8, 2025, at 11:00 UTC+8.
- Borrowing functions have already been disabled.
- All open margin positions will be automatically liquidated, and outstanding debts settled.
- Remaining assets will be transferred to users’ spot accounts.
Lending and DeFi Services
Pledged Lending
- FTM will be delisted from Bitget’s pledged lending platform on December 31, 2024, at 15:00 UTC+8.
- All loans involving FTM as collateral or borrowed asset will be automatically liquidated.
- After settlement, principal and collateral will be returned to users’ spot wallets.
- Users can review forced liquidation records under: Pledged Lending > History > Status > System Liquidation.
Flash Swap and Micro Conversion
- Flash Swap support for FTM and all related pairs ends on January 13, 2025, at 10:00 UTC+8.
- Micro Conversion (small amount swaps) for FTM will also be discontinued at the same time.
- Users are encouraged to complete any small conversions before the deadline.
Why This Upgrade Matters: The Rise of Sonic (S)
The rebrand from Fantom to Sonic (S) isn’t just cosmetic—it represents a major technological leap. According to project announcements, the new Sonic mainnet delivers:
- EVM compatibility for seamless dApp migration
- Over 10,000 TPS (transactions per second)
- Sub-second finality
- Enhanced decentralization and validator participation
These improvements position Sonic as a high-performance Layer-1 blockchain capable of supporting next-gen decentralized applications, DeFi protocols, and enterprise-grade solutions.
Frequently Asked Questions (FAQ)
Q: Do I need to take any action to swap FTM to S on Bitget?
A: No. Bitget will handle the entire token swap process automatically. Your FTM balance will be converted to S at a 1:1 ratio without any user intervention required.
Q: Can I still trade FTM after January 13, 2025?
A: No. FTM spot trading pairs will be delisted on January 13, 2025. Futures positions must be closed by January 6, and margin trading ends on January 8. After these dates, trading will no longer be available.
Q: What happens if I don’t close my futures position by the deadline?
A: Bitget will forcibly close all remaining FTM/USDT futures positions after January 6, 2025. This may result in losses due to market volatility during liquidation.
Q: Will the new S token have the same value as FTM?
A: The swap is 1:1 in quantity, but market price may differ based on supply-demand dynamics post-launch. Always monitor market conditions before making investment decisions.
Q: Where can I find official information about Sonic (S)?
A: You can review the official announcement from the Sonic Labs team for technical details about the mainnet upgrade and vision.
Q: Is my investment safe during this transition?
A: Bitget is implementing a structured timeline to minimize risks. However, cryptocurrency investments are inherently volatile. Conduct your own research and assess risk tolerance before holding or trading.
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Final Notes
The transition from Fantom (FTM) to Sonic (S) reflects the continuous innovation driving the blockchain industry forward. Bitget’s proactive support ensures users experience minimal disruption during this critical upgrade.
While automated processes reduce user burden, it remains essential to monitor key deadlines—especially for leveraged positions, lending orders, and active trading bots.
As always, invest responsibly. The crypto market offers opportunity but comes with significant risk. Stay updated, plan ahead, and make informed decisions.
Keywords: Sonic (S), Fantom (FTM), token swap, Bitget exchange, blockchain upgrade, Layer-1 blockchain, cryptocurrency migration