Announcements Gate.io Supports Fantom (FTM) Migration to Sonic (S)

Gate.io Supports Fantom (FTM) Migration to Sonic (S)

2024-12-24 14:41:40 UTC 88036 Read

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According to the Fantom (FTM) project team, the Fantom (FTM) tokens will be migrated to Sonic (S) at a ratio of  1 : 1. Gate.io will support this migration and provide seamless token swap services for users. If you currently hold Fantom (FTM) on Gate.io, no action is required on your part.

**Details: **
1) Gate.io will suspend trading for FTM3S and FTM3L starting from December 30, 2024, 06:00 UTC and redeem them based on their net asset value prior to the suspension. If you hold these leveraged tokens, you will receive the corresponding USDT within three days.
2)  Gate.io will close the new margin borrowing and crypto loan services for Fantom (FTM) before January 6, 2025, 08:00 UTC.
3) Users who have active positions in the Fantom (FTM) futures trading market are encouraged to adjust your strategies in advance. Starting from January 7, 2025, 08:00 UTC, the FTM/USDT futures trading market will switch to a "Reduce-only" mode.
4) On January 8, 2025, 08:00 UTC, Gate.io will automatically settle open futures trading positions at the average index price in the half-hour before the futures trading stops. Any outstanding orders will be canceled automatically. Users with open positions in this market should adjust your strategies and close positions before January 8, 2025, 08:00 UTC to avoid automatic settlement.
5) Gate.io will suspend the deposit, withdrawal, and trading services for Fantom (FTM), including FTM_USDT, FTM_USDC, FTM_ETH and FTM_TRY spot trading pairs, quant grid trading, Simple Earn, margin trading, and liquidity mining, starting from January 13, 2025, 03:00 UTC.
6) Users with active quant grid trading positions for Fantom (FTM) should adjust your trading strategies beforehand. Otherwise, the trades will be terminated automatically before January 13, 2025, 03:00 UTC.
7) Users with Fantom (FTM) assets in Simple Earn may manually redeem them in advance. Otherwise, the assets will be liquidated before January 13, 2025, 03:00 UTC.
8) Users with outstanding Fantom (FTM) loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before January 13, 2025, 03:00 UTC.
9) Users who have provided liquidity for Fantom (FTM) in the liquidity mining market should withdraw the liquidity in advance. Otherwise the liquidity will be automatically redeemed before January 13, 2025, 03:00 UTC.

It is important to note that Gate.io will no longer support Fantom (FTM). The listing time for Sonic (S) will be announced separately after Gate.io completes the listing review.

Project Team’s Announcement: https://docs.soniclabs.com/sonic/s-token

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Gate.io Team
December 24th, 2024

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Gate.io Supports Fantom (FTM) Migration to Sonic (S)

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