Fantom Rebrands to Sonic: Everything You Need to Know
Sonic, formerly Fantom introduces its upgraded network and the $S token. Discover the most important details on Sonic, how to migrate and accumulate airdrop points.
The popular EVM-compatible Layer 1 Fantom network is now to become Sonic. The rebrand comes with a fresh look, new $S token and some upgrades to the network.
In this guide you will find everything you need to know to get familiar with the upgrade, perform migration from $FTM to $S and engage in the Sonic ecosystem.
Why the Change?
Fantom built its reputation on high speed, low fees, and scalability using its proprietary Lachesis consensus. However, as the blockchain landscape evolves, so do user expectations. By rebranding to Sonic, the team aims to:
- Enhance Performance: Sonic promises improvements in transaction throughput, projected at up to 10,000 TPS with sub-second finality, a significant leap from Fantom Opera’s performance.
- Improve Interoperability: With features like the Sonic Gateway, Sonic creates a seamless bridge with Ethereum, allowing for more fluid asset transfers and interaction with other blockchain ecosystems.
- Attract New Users and Developers: A revamped identity and fresh incentives, such as enhanced fee monetization and developer grants, position Sonic as a more attractive choice ## What is Sonic?
Sonic is a Layer 1 EVM blockchain that builds upon Fantom’s technological legacy while introducing several new innovations:
Key Features
Lightning-Fast Transactions: With a target of 10,000 TPS and confirmation times of around 720 milliseconds, Sonic outpaces many competing chains, making it ideal for high-frequency decentralized applications (dApps).
EVM Compatibility: Sonic retains full Ethereum Virtual Machine (EVM) compatibility. This means developers can easily port their existing Ethereum dApps without extensive rewrites, leveraging the same tools and smart contract languages.
Robust Developer Incentives: Programs such as Fee Monetization enable developers to earn up to 90% of the fees generated by their applications, fueling innovation and sustainable ecosystem growth.
Interoperability and the Sonic Gateway: The platform features a dedicated bridge (the Sonic Gateway) that facilitates secure, cost-efficient transfers between Sonic and Ethereum. Advanced security features, including a fail-safe mechanism, ensure user funds remain protected during cross-chain transfers.
Together, these advancements aim to create an ecosystem that is both highly performant and user-centric.
Introducing the $S Token
The $S token is the native asset of the Sonic network, serving multiple functions related to network operations and governance.
$S Token Use Case
One of its primary uses is for transaction fees, ensuring that payments can be processed efficiently, even during periods of high network activity.
Additionally, the token is used in staking, where users can lock their $S tokens to contribute to network security. In return, they receive block rewards and validator fees. The staking system includes a 14-day withdrawal period to balance liquidity with security.
The token also plays a role in governance, allowing holders to vote on network proposals and influence the platform’s development. This mechanism enables community participation in decision-making processes.
To encourage participation, Sonic has planned incentives and airdrops, with approximately 190–200 million $S tokens set for distribution over several months. The distribution model is designed to support gradual claiming and sustained engagement.
Tokenomics
Sonic’s initial supply mirrors Fantom’s, with 3.175 billion $S tokens available at launch.
During the first six months, FTM holders can migrate to $S on a 1:1 basis via the official upgrade portal. Post-migration, additional tokens will be minted annually for network growth initiatives; however, unused tokens are burned to counteract inflation.
Migration: Converting $FTM to $S
For current Fantom (FTM) holders, transitioning to the new Sonic ecosystem is straightforward:
- Upgrade Portal: Users can convert FTM to $S at a 1:1 ratio using Sonic Labs’ dedicated upgrade tool. The portal guides users through connecting a Web3 wallet, specifying the token amount, and confirming the swap.
- Flexible Timeline: Although migration began in December 2024, FTM will continue to operate on the Fantom Opera network for the foreseeable future, providing flexibility for users who wish to upgrade later.
- Centralized Exchange Support: Many centralized exchanges are expected to support the migration directly, simplifying the process for users who hold FTM on these platforms.
Detailed migration instructions are available on official support pages, ensuring users can transition smoothly without jeopardizing their assets.
Developer and Ecosystem Incentives
In addition to speed and scalability, Sonic Labs emphasizes developer support and ecosystem growth through several key initiatives.
The Fee Monetization program allows developers to receive a significant share—up to 90%—of the fees generated by their dApps. This model provides a potential revenue stream designed to support ongoing development and innovation.
The Innovator Fund allocates approximately 1.5% of new tokens annually over six years to support scaling operations, marketing, and ecosystem expansion. Any unused tokens are burned to help manage inflation.
Community Governance mechanisms enable $S token holders to participate in decision-making processes, allowing them to contribute to the platform’s development and direction.
What to do on Sonic Network?
Shadow Exchange - Concentrated liquidity DEX on Sonic. Vote-escrowed tokens with additional rewards (similar to Curve Finance). Staking xSHADOW enables users to direct rewards to their favorite LP Pairs for 100% of the protocol fees.
SwapX - Decentralized exchange on Sonic. SwapX allows yield farmers to earn incentivized rewards in selected liquidity pools. Fork of uniswap V4, you can expect the same functionality.
Hand of God- Governance and algo stablecoin protocol. Peg status and balance token price are adjusted dynamically by an AI agent
Origin Protocol Sonic - Multichain yield aggregator and liquid staking protocol on Sonic. Helps you get more yield from your $S, $ETH, $ARB and other holdings. They also issue the Origin Dollar yield-bearing stablecoin.
FAQs
What happens if I don’t upgrade my FTM to S?
The Fantom Opera network will continue to operate normally. No immediate change will occur, however if you want to benefit from the network upgrade, you should migrate your holdings to $S
What happens if I have staked FTM?
If you have staked FTM, you can withdraw it, and following a 24-hour waiting period, you can claim your FTM and upgrade to S on the upgrade portal on a 1:1 basis.
Will the $S token experience inflation?
The S token will not experience inflation during the first six months after Sonic’s launch. Following that period, the network will mint S tokens per previously approved governance votes to enable an airdrop, ecosystem growth, and validator rewards. To ensure efficient use of any additional tokens, a number of new burn mechanisms and improvements are also outlined in the votes.
What if I hold FTM on a centralized exchange (CEX)?
If you hold FTM on a centralized exchange, it’s advisable to check with the exchange regarding their support for the migration process. Some exchanges may automatically convert FTM to S, while others might require manual intervention. For instance, Robinhood Crypto has outlined a specific migration process for FTM holders on their platform.
