OKX to support FTM token migration
According to the official plan of Fantom, the Fantom (FTM) token will be undergoing a token migration and will be upgraded to Sonic (S).
OKX will support FTM migration to S as per the following schedule:
1. Deposits and withdrawals
FTM deposits and withdrawals will be suspended at 3:30 am UTC on January 13, 2025, and deposits will no longer be supported after the token migration is complete.
The schedule for S deposits and withdrawals will be announced separately.
2. Trading instruments
Spot trading
OKX will delist FTM/USDC and FTM/EUR spot trading pairs and terminate any related orders between 3:00 am and 3:30 am UTC on January 13, 2025. All other trading services (such as Convert, P2P Express, Copy trading, and Trading bots) will also be suspended.
Please cancel all orders before 3:00 am UTC on January 13, 2025. Our system will cancel any outstanding orders after this time.
At the time of delisting, orders placed by trading bots for the above-mentioned pairs will be canceled, and bots will be stopped. Any related pairs or positions will be sold or closed at the market price at that time.
3. Token migration
At 4:00 pm UTC on January 13, 2025, an account snapshot on the user’s funding account will be performed, and the user’s FTM holdings will be converted into S at a 1:1 ratio. A separate announcement will be made once the migration is complete. Related assets in the trading account will be transferred to the funding account for the snapshot.
At the time of the snapshot, any FTM tokens that are being withdrawn or yet to be deposited successfully will not be included in the migration.
Holdings under 1 FTM will not be included in the migration.
The token migration is expected to take 1 - 5 days. During this period, your FTM valuation will be unavailable. Once the migration is complete, all your FTM will be converted to S, and FTM will no longer be shown in your asset list. (Note: Due to the large number of FTM holders, the migration time will be longer, and the announcement will be made immediately after the migration.)
Risk warning: The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty or any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become illiquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to Terms of Service and Risk & Compliance Disclosure for more information.
For any inquiries, please feel free to contact us via the support center or connect with us on any platform of your choice.
OKX team
January 8, 2024