TL;DR
- Sonic Labs launches its native S token, replacing the FTM token on a 1:1 basis, with listings on 13 major exchanges.
- The transition from FTM to S is designed to be seamless, with 90 days for unrestricted exchanges.
- Despite the transition, the Fantom network will remain operational, with significant incentives for participation within the Sonic ecosystem.
Sonic Labs has announced the launch of its native S token, set to replace the existing FTM token on a 1:1 basis. This transition marks a significant milestone for the blockchain company, which aims to enhance its ecosystem with the new token. The S token will debut on 13 major exchanges, including industry giants like Binance and Bybit.
A New Era for Sonic Labs
Sonic Labs, co-founded by Andre Cronje, has developed a high-performance blockchain compatible with the Solana Virtual Machine and Ethereum Virtual Machine. The mainnet, which went live on December 13, 2024, promises to deliver impressive infrastructure capable of processing 10,000 transactions per second with block finality in less than one second.
Transition from FTM to S
The transition from FTM to S is designed to be seamless for users. FTM holders can upgrade their tokens to S on a 1:1 basis using the MySonic upgrade portal. For the initial 90 days following the mainnet launch, users will have the opportunity to exchange FTM and S without any restrictions. After this period, upgrades will be from FTM to S only. This strategic move aims to streamline the user experience and bolster the Sonic ecosystem.
Major Exchange Listings
The S token will be listed on 13 major exchanges, facilitating widespread adoption and liquidity. These exchanges are expected to support automatic token upgrades through integration with the Sonic network. This extensive listing strategy underscores Sonic Labs’ commitment to making the S token accessible to a broad audience.
Despite the transition to the S token, the Fantom network will remain operational. With over $168 million in TVL, Fantom remains a significant player in the blockchain space. Sonic Labs has reserved 190.5 million tokens to incentivize participation and adoption within the Sonic ecosystem.
Future Prospects
The launch of the S token represents a new chapter for Sonic Labs. With its robust infrastructure and strategic partnerships, Sonic Labs is poised to make a substantial impact in the blockchain industry. The transition from FTM to S is not just a token swap but a step toward a more integrated and efficient ecosystem
