Crypto.com will support the conversion of staked Fantom (FTM) to staked Sonic (S) as part of Fantom’s migration to the Sonic chain. The process will take place on 7 January 2025, and is part of Sonic Labs’s strategy to redefine the user experience.
Throughout the migration, the existing Fantom blockchain will remain operable to avoid any disruption to the process. For more details, please refer to the official blog post.
I staked FTM on Crypto.com. What should I do?
Crypto.com will facilitate the conversion of staked FTM to staked S at a 1:1 ratio. There is no action required from you.
During the Migration
Starting from 7 January 2025, 00:00 UTC, users will not be able to stake or unstake FTM tokens in the Crypto.com App or on the Crypto.com Exchange.
After the Migration
The migration will be completed by mid-January. All staked FTM will be converted to staked S at a 1:1 ratio, and users will be able to stake and unstake S tokens after the migration.
Impact on Staking Reward Distribution
FTM staking rewards have been distributed, and subsequent rewards from staked S tokens will be distributed up to three times a week.
