In August 2024, Sonic Labs announced their intention to replace the Fantom (FTM) token with a new token, called Sonic (S), and to allow all existing FTM holders to convert to S at a fixed rate of 1 FTM : 1 S.

We are supporting this migration on behalf of Kraken clients by delisting FTM, converting all FTM on our platform to S, and then distributing S back to eligible users at the conversion rate of 1 : 1.

The S redemption rate and contract to redeem S are both independently provided and maintained by Sonic Labs.

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