Governance Vote 1: $FTM to $S Compatibility

Executive Summary

Per forum entry, a new chain, named Sonic, will launch and Fantom will seek to migrate its community, applications, and token holders to this new network.

The Sonic network will provide users and dApps additional capabilities such as backward compatibility with EVM, improved speed on top of our benchmarked performance, and increased security.

The proposal will secure the community’s contribution, support and approval to make Fantom ($FTM) compatible with Sonic’s new token $S.

Specifications

  • $FTM will be 1:1 compatible with $S at genesis of Sonic network

Voting Options:

  • Yes, APPROVE $FTM to $S migration and compatibility.
  • No, REJECT $FTM to $S migration and compatibility.
68 Likes

Is there a change to tokenomics? Will $S have the same total supply as $FTM?

5 Likes

Yes, APPROVE $FTM to $S migration and compatibility.

8 Likes

I voted yes, no brainer - new chart

5 Likes

I voted yes, but I wonder how the migration process will work with the minting and burning :thinking:

1 Like

Instead of a swap of $FTM to $S, why not just keep $FTM as is, then airdrop $S to all $FTM holders?

This will give justice to those who supported Fantom from the start or upto this point. If everything goes as plan for the new chain, $S may become superior than $FTM and that is just fine.

I think this is easier to agree for the current holders who are still following the updates and those who are holding FTM but are not yet up to date.

7 Likes

then everybody sells of to get ftm…you can only copy past whole ecosys on new chain…
anyway…there are no details so nobody can judge of the above text anything…thats my opinion

1 Like

why you vote if you dont know all the details?

1 Like

this forum is now a sonic waiting room

1 Like

how long will we have to swap from $FTM to $S? what about old holders from last cycle, will they run out of time before they notice the rebrand?

2 Likes

this is underrated, I think a lot of new people are scared of touching fantom because the chart looks brutal after end of the previous defi summer. $S will be a fresh start with a lot of learned experience from fantom.

3 Likes

the vote is overwhelmingly yes at 99.9%

2 Likes

brutal facts hahaha…lmao…then nobody would have ever touched btc again … :rofl:

2 Likes

Guys how to vote in the proposal? I have ftm staked

2 Likes

I agree that there is no benefit to devalue and migrate from an existing, perfectly functional FTM chain.
$S can be airdropped to existing FTM holders but not necessarily 1:1 as the foundation should retain some $S to incentivize the building out of a parallel Sonic Chain.
I would suggest $FTM to 0.75 $S as airdrop and this would encourage engagement and farming for remaining $S tokens on both the FTM & Sonic Chain.

Open to learning why this would not work

2 Likes

Yes, APPROVE $FTM to $S migration and compatibility!

1 Like

I currently hold FTM coins on an exchange. What happens if I switch to Sonic coin? Will it be automatically converted or do I need to withdraw it to my wallet and convert it manually

1 Like

Yessir, I Voted Yes.

Yes, APPROVE $FTM to $S migration and compatibility.

Yes, $sonic user interface is looking good and I’d be intrigued to see further upgrades to the FTM eco

1 Like