In mid-December, Sonic Labs rolled out the Sonic mainnet, an EVM-compatible layer-1 [L1] blockchain platform offering developers powerful infrastructure and boosted incentives.
As a part of this upgrade, Fantom and the FTM token will officially transition to Sonic and the S token. Sonic Labs will facilitate the transition by offering an upgrade portal on MySonic. In this article, we’ll be diving into the migration process.
If you hold your FTM on a CEX, then you pretty much have to do nothing. Sonic Labs is working with CEXes to offer a way to automatically swap your tokens 1:1 from FTM to S directly on exchanges.
However, if you want to be involved in the upgrade process, you’ll have to withdraw your tokens into an on-chain wallet and use the official upgrade bridge on MySonic.
Here’s how you can do it:
- First, go to my.soniclabs.com/upgrade
- Connect your web3 wallet
- Type in the amount of FTM you wanna upgrade
- Check if you’re receiving the same amount of S on Sonic
- Pay the fee
- Approve the transaction
Voila, you’ll receive your S on the same address on Sonic in less than a minute. It’s that easy.
For the first 90 days, you'll be able to swap between the two tokens as you please. But when this period ends, swaps will only be possible in one direction — from FTM to S.
At launch, you will also be able to unlock your staked FTM and bridge your assets immediately to Sonic.
Meanwhile, if you have LP positions, you’ll have to break all your existing LP positions on Fantom, migrate each token individually, and then recreate the positions on Sonic.
That being said, your transaction history will not migrate. It’ll remain on the original chain. Sonic will launch as a brand-new chain with no history.
