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Binance Futures has launched the SONICUSDT perpetual contracts on January 8, 2025, providing traders with the opportunity to trade SONIC tokens with up to 75x leverage. These contracts, settled every four hours in USDT, offer a significant level of flexibility for traders looking to engage in the SONIC market. The funding rate for these contracts is capped at ±2.00%, which may fluctuate based on market conditions. This new offering coincides with the ongoing transition from Fantom (FTM) tokens to Sonic (S) tokens, providing a seamless bridge for those involved in the FTM ecosystem.
As part of the transition, Binance will delist all FTM trading pairs on January 13, 2025, and offer a 1:1 token swap, allowing users to convert their FTM tokens into S tokens. The official trading of Sonic tokens will begin on January 16, 2025, with new pairs such as S/USDT, S/BTC, and S/BNB becoming available. This automatic conversion eliminates the need for manual token swaps, making the process easier for users holding FTM.
The SONICUSDT perpetual futures contracts on Binance Futures allow for round-the-clock trading with no expiration date. They also support Binance’s multi-asset margin model, meaning traders can use assets like Bitcoin, alongside USDT, to meet margin requirements. This enhances the flexibility of trading on the platform and provides additional opportunities for those holding different assets.
However, it is important to note that the availability of SONICUSDT on Binance Futures does not guarantee that SONIC tokens will be listed on Binance’s Spot market in the future. Additionally, perpetual contracts are distinct from spot trading, and users should be aware that key parameters such as funding rates, leverage, and margin requirements could change based on market dynamics.
This launch of SONICUSDT perpetual contracts and the transition from FTM to Sonic tokens is part of Binance’s broader strategy to adapt to evolving blockchain projects. The transition also introduces new features within the Sonic ecosystem, including developer incentives and governance opportunities, aimed at attracting a wider range of users and developers.
For users interested in participating in the SONICUSDT futures contracts and understanding the FTM-to-Sonic migration, it is advisable to keep up with Binance’s official announcements. This will ensure that traders are informed about the latest updates and any potential changes to the platform.
