OrangeX to support the Fantom (FTM) token swap and rebranding to Sonic (S)
Update on 2025/01/16 03:19:34
OrangeX will support the Fantom (FTM) token swap and rebranding to Sonic (S).
Details are as follows:
Deposit and withdrawal services of FTM will be suspended at 04:00, 16 January (UTC).
At 06:00, 16 January (UTC), OrangeX will delist the FTM/USDT spot trading pair and cancel all pending spot trade orders.
At 07:00, 16 January (UTC), OrangeX will delist the FTMUSDT perpetual trading pair. If you hold the FTMUSDT perpetual positions, please close it as soon as possible; otherwise, we will automatically close it for you at that time.
After the token swap, FTM tokens will be rebranded to the ticker 'S' on OrangeX (1 FTM = 1 S).
All FTM balances will be recovered, and S tokens will be distributed to eligible users at a 1:1 ratio.
OrangeX will handle all technical requirements for users involved in this event.
Users may refer to the announcement from the project team for more information. Please Note: OrangeX will no longer support deposits and withdrawals of old FTM tokens after the token swap. We will inform users in a separate announcement when the deposit, withdrawal and trading services for S are available, following the completion of the token swap. Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Please take note of these key tokenomics changes after this event: - The initial circulating supply of S will be around 2.88 billion, with an initial total supply of 3.175 billion, matching FTM's supply at the Sonic chain launch. - Total supply of S: - Will increase and be capped at 15% until 2031 (excluding block rate incentives). - The annual inflation rate will be 1.75%, four years after the Sonic chain launch. - More information can be found here. We apologize for any inconvenience this may cause. Thanks for your support! Thanks for your support! OrangeX Team 2025-01-16
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