Announcements Gate.io Adjusts the Migration Timeline from Fantom (FTM) to Sonic (S) Tokens

Gate.io Adjusts the Migration Timeline from Fantom (FTM) to Sonic (S) Tokens

2025-01-03 11:43:25 UTC 79039 Read

[//]:content-type-MARKDOWN-DONOT-DELETE
In response to the latest updates from the Fantom (FTM) project team, <a href="https://www.gate.io/" target="_blank" title="Gate.io">Gate.io</a> has adjusted the migration plan for Fantom (FTM) to the new Sonic (S) tokens. We will continue to support this token migration and provide users with a seamless migration service. <a href="https://www.gate.io/" target="_blank" title="Gate.io">Gate.io</a> users do not need to take any specific action to complete the migration. Additionally, we have already processed the net asset redemption of FTM3S and FTM3L leveraged tokens, and users can view the details in their Transaction History.

**Updated Migration Steps by Gate.io:
**
1) Gate.io will close the new margin borrowing and crypto loan services for Fantom (FTM) before January 4, 2025, 08:00 UTC.
2)  Users who have active positions in the Fantom (FTM) futures trading market are encouraged to adjust your strategies in advance. Starting from January 5, 2025, 08:00 UTC, the FTM/USDT futures trading market will switch to a "Reduce-only" mode.
3) On January 6, 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 6, 2025, 08:00 UTC to avoid automatic settlement.
4) Starting from January 7, 2025, 03:00 UTC, 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, and margin trading.
5) 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 6, 2025, 08:00 UTC.
6) Users with Fantom (FTM) assets in Simple Earn may manually redeem them in advance. Otherwise, the assets will be liquidated before January 7, 2025, 03:00 UTC.
7) 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 7, 2025, 03:00 UTC.

It is important to note that <a href="https://www.gate.io/" target="_blank" title="Gate.io">Gate.io</a> 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

<sp>
**Gateway to Crypto**
Trade over 3,300 cryptocurrencies safely, quickly, and easily on Gate.io

• Visit our  <a href="https://www.gate.io/activities/gate-collaborates-with-inter-milan" target="_blank" title="Official Website">Official Website</a>
• Download Gate.io <a href="https://www.gate.io/mobileapp?ch=ann28618" target="_blank" title="App">App</a> / <a href="https://www.gate.io/mobileapp?ch=ann42341" target="_blank" title="Web">Web</a> now
• Follow us on [Gate.io X (Twitter)](https://x.com/gate_io "Gate.io X (Twitter)") to get more bonuses
• Join our [Telegram](https://t.me/gateio_en "Telegram") to discuss hot topics
• Join our <a href="https://www.gate.io/community" target="_blank" title="Global Community">Global Community</a> to get more updates
• We provide [100% proof of reserve](https://www.gate.io/proof-of-reserves "100% proof of reserve")>>>
• <a href="https://www.gate.io/signup" target="_blank" title="Sign up">Sign up</a> to enjoy max. $6666 in rewards exclusively for new users
• Get 40% commission from <a href="https://www.gate.io/referral" target="_blank" title="referrals">referrals</a>

Gate.io Team
January 3th, 2025

Change & Chart Start-End Time

Rise/Fall Color

Pay With

Gate.io Adjusts the Migration Timeline from Fantom (FTM) to Sonic (S) Tokens

Gate.io Adjusts the Migration Timeline from Fantom (FTM) to Sonic (S) Tokens

Select language and region

Select your region

Fiat Currencies