CEX.IO will support the conversion of Fantom (FTM) to Sonic (S) as part of Fantom’s migration to the Sonic chain. The migration is part of a strategic update to align with new technological advancements and aims to provide better scalability, enhanced security, and improved functionality. For more details, please refer to the official blog post.

The migration will be automatic for CEX.IO users who own FTM on their wallets, requiring no action from the users. Here’s a brief overview of how it will be implemented:

Pre-migration: Starting January 21, all transactions involving FTM will be paused to secure the integrity of the process. The affected services:

All active FTM trade orders will be automatically cancelled. To avoid disruption, please close your pending FTM trades before this date.

FTM wallet addresses associated with CEX.IO will be deactivated. Any FTM deposits initiated on or after January 21 risk permanent loss.

Automatic conversion: On January 24, all FTM tokens held in user wallets will be automatically converted to Sonic (S) tokens at a 1:1 ratio.

Post-migration: The new Sonic (S) tokens will be credited to the users' accounts on January 24. Full services for Sonic (S) will be resumed including:

Deposits and withdrawals of the new token will be enabled later.

The migration process will be done with stringent security measures in place to protect your assets. The Fantom’s team claimed that the tokenomics of the new Sonic (S) tokens remain the same, ensuring that your holdings retain their value post-migration.

Thank you for your cooperation and trust in our platform as we continue to support the latest developments in the cryptocurrency space.

*CEX.IO Margin Trading is currently available in select countries. Check the list of unsupported jurisdictions here.
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