Bitvavo will support the Fantom (FTM) token swap to Sonic (S)
We will support the Fantom (FTM) token swap to Sonic (S). Read this article for our timeline.
Bitvavo will stick to the following timeline for the swap:
On Friday the 10th of January 2025 at 10:00 CET, deposits for Fantom (FTM) will be closed.
On Friday the 10th of January 2025 at 13:00 CET, buying and selling for Fantom (FTM) will be halted.
On Friday the 10th of January 2025 at 15:00 CET, withdrawals for Fantom (FTM) will be closed.
On Friday 17th of January 2025, or earlier, Fantom (FTM) will automatically be converted to Sonic (S) at a conversion rate of 1 FTM = 1 S.
Bitvavo plans to support trading, deposits, and withdrawals for Sonic (S) on or around Friday, January 17th, 2025.
About the switch from FTM to S
Sonic is an EVM-compatible layer-1 blockchain designed to empower the next generation of decentralized applications with high-performance infrastructure and robust developer incentives. It supports seamless scaling with 10,000 transactions per second, sub-second finality, and compatibility with Solidity and Vyper.
Developers benefit from fee monetization (earning up to 90% of app-generated fees), the Innovator Fund (offering up to 200 million S for new ventures), and user incentives like airdrops. The native token, S, facilitates transactions, staking, governance, and validator operations, with a 1:1 upgrade path from FTM. Sonic also features the Sonic Gateway, providing secure, fail-safe access to Ethereum’s liquidity through a robust bridging solution.
You can read more about the switch from FTM to S here.