Sonic, a high-performance Layer 1 blockchain, officially launched on December 18, 2024, introducing its native token, S. Existing Fantom (FTM) holders can seamlessly upgrade their tokens to S on a 1:1 basis, ensuring a smooth transition into the new Sonic ecosystem.
This guide provides a comprehensive overview of the upgrade process, covering various scenarios based on how and where you currently hold your FTM tokens.
Understanding the FTM to S Upgrade
The upgrade from FTM to S is designed to be straightforward and user-friendly. The process varies slightly depending on whether your tokens are held in a self-custody wallet, staked, on a centralized exchange, or in another form like wrapped tokens (WFTM) or stablecoins intended for bridging.
The core principle remains the same: one FTM token can be upgraded for one S token, allowing holders to maintain their full value while migrating to the new Sonic network.
How to Upgrade Based on Your Token Type
Upgrading FTM on Fantom Opera
If you hold plain FTM tokens in your own wallet on the Fantom Opera network, the process is direct.
- Visit the official MySonic upgrade portal and connect your wallet.
- Enter the precise amount of FTM you wish to upgrade to S.
- Click the "Upgrade" button and approve the transaction in your wallet.
Important Note: You must retain a small amount of FTM in your wallet to cover the network gas fee required to execute the upgrade transaction.
Converting FTM Held on Ethereum
For users holding FTM tokens on the Ethereum network, a bridging process is required.
- Navigate to the Sonic Gateway bridge and connect your Ethereum wallet.
- Select FTM (Ethereum) as the asset you wish to transfer from the dropdown menu.
- Specify the amount of FTM to bridge and upgrade to S.
- Click "Bridge" and approve the transaction in your wallet.
- Once the bridge process is complete, a "Claim" button will appear. Click it to claim your new S tokens on the Sonic network.
👉 Get detailed guidance on the bridging process
Upgrading Staked FTM
If your FTM tokens are currently staked on the Fantom Opera network, you must first unstake them.
- Go to fWallet and initiate the unstaking process for your FTM. After submitting the request, there is a 24-hour unbonding period before the tokens are released to your wallet.
- Once the FTM is in your wallet, proceed to the MySonic upgrade portal.
- Connect your wallet, enter the amount of FTM to upgrade, and approve the transaction.
Remember to keep a small amount of FTM for gas fees for both the unstaking and upgrade transactions.
Handling sFTMx for stS Staking on Sonic
If you hold sFTMx and intend to liquid stake on Sonic to receive stS, follow these steps.
- Visit Beethoven X and click "Unstake" for your sFTMx position.
- After the 24-hour waiting period, withdraw the resulting FTM to your wallet.
- Use the MySonic upgrade portal to convert your FTM to S.
- With S in your Sonic wallet, visit a supported platform like Beets to liquid stake your S and receive stS tokens.
Converting Wrapped FTM (WFTM)
For those holding Wrapped FTM (WFTM) on Fantom Opera, you must first convert it to native FTM.
- Use a reliable DEX aggregator to swap your WFTM for native FTM. Ensure you are getting a 1:1 exchange rate.
- Once you have native FTM, proceed to the MySonic upgrade portal to complete the conversion to S.
Bridging USDC to Sonic
You can also use USDC stablecoins on Fantom to enter the Sonic ecosystem through bridging.
- Connect your wallet to a cross-chain bridge that supports the Fantom-to-Sonic route.
- Select Fantom as the source chain and the specific type of USDC you hold (e.g., USDC.e, axlUSDC).
- Enter the amount to bridge and confirm the transaction.
Alternatively, you can use a stablecoin's canonical bridge (like Portal Bridge or Axelar) to bridge USDC back to Ethereum first. From Ethereum, you can then use the Sonic Gateway to bridge it directly to Sonic.
Disclaimer: Always exercise caution and conduct your own research when using third-party bridging services, as they are independent platforms.
Holding FTM on a Centralized Exchange (CEX)
If your FTM is held on a centralized exchange, the simplest method is often to trade it directly for S. Many major exchanges have listed the S token for trading. You can typically trade your FTM for a stablecoin like USDT and then trade that for S, or check if a direct FTM/S trading pair is available.
👉 Explore trading options for digital assets
Frequently Asked Questions
What is the ratio for upgrading FTM to S?
The upgrade is performed at a strict 1:1 ratio. One FTM token will always be redeemed for one S token, preserving the holder's full value during the migration to the Sonic blockchain.
Do I need to pay gas fees for the upgrade?
Yes, you are responsible for the network gas fees. If you are upgrading on Fantom Opera, you need a small amount of FTM to pay for the transaction. If you are bridging from Ethereum, you will need ETH for the initial transaction and a tiny amount of S on Sonic to claim your tokens.
How long does the upgrade process take?
Upgrading directly on Fantom Opera is nearly instantaneous. Bridging from Ethereum involves a short waiting period for the cross-chain transaction to complete, after which you can claim your S. Unstaking FTM requires a mandatory 24-hour unbonding period before you can upgrade.
What happens if I don't upgrade my FTM?
Fantom Opera will continue to operate, and FTM will remain its native token. However, to participate in the new Sonic ecosystem—including its DeFi applications, staking, and governance—you will need to hold S tokens.
Is there a deadline to upgrade?
There is no currently announced deadline for the 1:1 upgrade. The process is designed to be open for the foreseeable future, allowing holders ample time to migrate at their convenience.
Can I upgrade tokens held in a hardware wallet?
Yes, the process is fully compatible with hardware wallets like Ledger and Trezor. You simply connect your hardware wallet to the upgrade portal or bridge website as you would with any other web3 transaction and approve the actions.
Getting Started with Sonic
Once you have S tokens in your Sonic wallet, a new ecosystem of decentralized finance (DeFi) opportunities awaits. You can explore native decentralized exchanges (DEXs), lending protocols, liquid staking, and innovative new dApps built to leverage Sonic's high throughput and low latency.
Welcome to the next chapter of blockchain performance. Your upgrade to S is your ticket to experiencing the speed and scalability of the Sonic network.