Fumbi Will Support the Migration & Token Swap of the Fantom (FTM) Token to Sonic (S)

Fumbi will support the migration & Token swap of the Fantom (FTM) token to Sonic (S). The migration and swap of the $FTM token to the $S token will take place during the week of January 13, 2025, to January 19, 2025.

What Is Token Migration & Swap?

Token Migration & Swap is a process in which a token (in this case, FTM) is exchanged for a new token (in this case, S). The reason for this process is the decision by the Fantom Foundation to migrate the FTM token to the Sonic network, which reflects their vision of a more advanced and scalable blockchain. According to available info, Sonic offers a more scalable, faster, and cost-effective solution compared to Fantom’s current network, called Fantom Opera.

Key Points of the Migration & Token Swap

• Fumbi will handle the entire migration process. No action is required from our clients.
  
  
• All FTM tokens will be exchanged for S tokens at a 1:1 ratio (1 FTM = 1 S).
  
  
• Your current FTM token balance will remain the same after the migration is completed, but the tokens will be labeled under the ticker $S.
  
  
• Trading of the FTM cryptocurrency on Fumbi will be suspended on Friday, January 10, 2025, starting at 12:00 PM (CET).
  
  
• The migration is expected to begin on Monday, January 13, 2025, and will be completed within 4-7 calendar days.
  

We will inform you of any potential changes, as well as the completion of the migration, through a separate blog.