Help regarding Fantom (FTM)

[Trebor123]

Hi, I'm holding Fantom (FTM) From 18 December 2024, the Fantom Foundation has been migrating the Fantom token to the Sonic (S) token on the Sonic network. I have seen conflicting advice as to what to do, do I need to switch my FTM to Sonic or can I just leave it in my cold wallet as is?
Thanks for any info.
PS as an after thought, your opinions regarding this project would also be appreciated.

[Sanitough]

Hi, I'm holding Fantom (FTM) From 18 December 2024, the Fantom Foundation has been migrating the Fantom token to the Sonic (S) token on the Sonic network. I have seen conflicting advice as to what to do, do I need to switch my FTM to Sonic or can I just leave it in my cold wallet as is?
Thanks for any info.
PS as an after thought, your opinions regarding this project would also be appreciated.

Since they’re migrating to the Sonic network, it’s important to follow the process to ensure you can take advantage of the staking opportunities on the new network. However, it’s best to read the full guide and understand the benefits of transferring. According to the details, there’s a 90-day window to migrate, and after that, here’s what will happen.

https://docs.soniclabs.com/migration/ftm-to-s

FTM to S
FTM holders on Opera can upgrade to S on a 1:1 basis using the upgrade portal on MySonic.

For the first 90 days after Sonic’s mainnet launch, you can freely swap between FTM and S through this portal. After that, upgrades will be from FTM to S only.

[TastyChillySauce00]

definitely migrate if you can, S is the new token and there will be delisting of FTM everywhere after majority already migrated.

PS as an after thought, your opinions regarding this project would also be appreciated.

this project is pretty good, the TPS is great, scalability is great, one concern that might be important for old FTM user is the dilution of S since they are trying to create a massive event that gonna distribute 200m $S in the future so expect the dilution.
though you can always stake your already migrated S token for a share of reward.

[FinneysTrueVision]

You can continue holding your Fantom tokens because the chain will continue operating, however, it is still advisable to upgrade because the depelopers’ focus has shifted to Sonic. Binance will stop supporting Fantom deposits on Monday. Other exchanges will do the same, so you will eventually have to migrate if you want to sell them. It is better to migrate early so you can be eligible for the airdrop and so you can participate in staking.

[MAAManda]

@Sanitough has everything you need to save your assets. It only takes a few steps for you to do so that your tokens migrate to the new network. Moreover, you store it non-custodially. BTW, what happened to the $FTM network, so they did & told holders to migrate. Is this the same as Polygon which also migrated some time ago? Anyone?

[nelson4lov]

~Snipped

PS as an after thought, your opinions regarding this project would also be appreciated.

I don't own FTM but I'll give my 2cents.

I was super bullish on FTM for most part of 2024 because it was a chain that almost no one cared about anymore until they introduced the launch of Sonic and that was enough catalyst to push not just the price but also attract attention (projects and users) to their ecosystem in the last few months.

However, now that Sonic is fully live, it's just a matter of how the ecosystem strives from here otherwise, it might die off once again like fantom did. Don't forget there are ton of new and interesting chains launching almost every month.

[Trebor123]

Thanks for all the replies and advice. I will swap the FTM for S and hopefully make some money!
Cheers

[gunhell16]

Hi, I'm holding Fantom (FTM) From 18 December 2024, the Fantom Foundation has been migrating the Fantom token to the Sonic (S) token on the Sonic network. I have seen conflicting advice as to what to do, do I need to switch my FTM to Sonic or can I just leave it in my cold wallet as is?
Thanks for any info.
PS as an after thought, your opinions regarding this project would also be appreciated.

Is this the Sonic that recently seemed to be rumored to be another successful coin in the crypto market that made a splash and there are also many communities supporting it and partners who are known in this field industry. I think what the instructions they are giving now is that you should migrate so that the effort you believe in Ftm is not wasted, just follow it op.

Then again, I don't see anything bad about this Sonic if it's still good for your assets and then the important thing is to still stay in the end so that you can get a good profit from it, right?

[Trebor123]

Hi, I'm holding Fantom (FTM) From 18 December 2024, the Fantom Foundation has been migrating the Fantom token to the Sonic (S) token on the Sonic network. I have seen conflicting advice as to what to do, do I need to switch my FTM to Sonic or can I just leave it in my cold wallet as is?
Thanks for any info.
PS as an after thought, your opinions regarding this project would also be appreciated.

Is this the Sonic that recently seemed to be rumored to be another successful coin in the crypto market that made a splash and there are also many communities supporting it and partners who are known in this field industry. I think what the instructions they are giving now is that you should migrate so that the effort you believe in Ftm is not wasted, just follow it op.

Then again, I don't see anything bad about this Sonic if it's still good for your assets and then the important thing is to still stay in the end so that you can get a good profit from it, right?

I've just sold all my FTM while I still can without migrating to Sonic. I just think there are better projects out there, I don't want to take a gamble on Sonic