OKX will fully support the upcoming Fantom (FTM) token migration to Sonic (S) in January 2025. This article provides a detailed schedule of service adjustments, trading updates, and migration procedures to ensure a smooth transition for users.
Key Dates for FTM Migration Support
1. Deposit and Withdrawal Schedule
- FTM suspension: Deposits and withdrawals will pause at 3:30 am UTC on January 13, 2025.
- Sonic (S) support: Details for S deposits/withdrawals will follow in a separate announcement.
2. Trading Instrument Adjustments
2.1 Margin Trading Updates
- FTM borrowing ends: January 2, 2025 (12:00 pm UTC).
- Margin trading suspension: January 6, 2025 (8:00–10:00 am UTC). All open orders will be canceled.
Critical action required: Repay FTM borrowings before delisting to avoid forced liquidation during market volatility.
👉 Secure your margin positions before migration
Discount Rate Adjustment
Effective January 6, 2025, FTM collateral discounts reset to 0:
| Max Collateral (FTM) | Discount Rate |
|---|---|
| 0 | 0 |
Note: Reduced discounts may increase maintenance margin requirements.
2.2 Perpetual Futures Delisting
FTMUSDT contracts: Will be delisted at 8:00 am UTC on January 7, 2025.
- Positions delivered at index price 1 hour pre-delisting.
- Funding rate set to 0 for final billing.
Risk management tip: Lower leverage or close positions beforehand to mitigate delivery risks.
2.3 Spot Trading Changes
Delisting pairs: FTM/USDT and FTM/USDC removed between 3:00–3:30 am UTC on January 13, 2025.
- Trading bots for FTM pairs will auto-cancel.
- Manual order cancellation required before cutoff.
3. Token Migration Process
- Snapshot timing: January 13, 2025 (4:00 pm UTC). FTM holdings in funding accounts converted 1:1 to S.
Exclusions:
- Tokens mid-withdrawal or under 1 FTM.
- Migration duration: 1–5 days (FTM valuations temporarily unavailable).
👉 Track migration progress here
Frequently Asked Questions (FAQ)
Q: When should I repay my FTM margin loans?
A: Before January 2, 2025 (12:00 pm UTC) to prevent forced repayment.
Q: Will my open FTM perpetual futures orders expire?
A: Yes—all orders cancel automatically at delisting (January 7, 8:00 am UTC).
Q: How does the 1:1 conversion work?
A: Post-snapshot, every FTM in your funding account becomes 1 S token. Sub-1 FTM balances are excluded.
Q: Can I trade FTM during migration?
A: No. All trading services suspend during the 1–5 day migration window.
Risk Disclaimer
Digital asset investments carry high volatility and risk. OKX does not guarantee migration outcomes or market conditions. Evaluate your risk tolerance and consult official Fantom documentation for protocol-level details.
For support, contact OKX via Help Center.
Last updated: December 31, 2024