On December 18, 2024, every FTM token became convertible into S at a 1:1 rate, and Sonic replaced Fantom as the project's live chain. The upgrade kept balances whole: 100 FTM became 100 S, with no fee beyond gas. What changed was everything underneath, from the virtual machine and database to the token's supply schedule and, by 2026, the company running it.
This guide explains how the swap worked, what it means for anyone still holding FTM, and how Sonic differs from the Fantom Opera chain it replaced.
Why Fantom Became Sonic
Fantom Opera was a fast chain for its era, with roughly one-second finality from its Lachesis consensus, and it hosted a busy DeFi scene in 2021. By 2023 newer chains had overtaken it on speed and developer attention, and incremental upgrades would not close the gap. The Fantom Foundation chose a clean rebuild: a new execution engine (SonicVM), a new storage layer (SonicDB), a native bridge to Ethereum, and a new brand, Sonic Labs.
Reusing the FTM supply 1:1 gave existing holders continuity. It also meant Sonic inherited Fantom's price history, which is why most charts splice the two together, a quirk worth knowing before reading any long-range Sonic price prediction.
What Changed Between Opera and Sonic
| Fantom Opera | Sonic | |
|---|---|---|
| Native token | FTM | S |
| Virtual machine | Standard EVM | SonicVM (EVM-compatible) |
| Finality | About 1 second | Under 1 second |
| Developer revenue | None at protocol level | FeeM: up to 90% of app gas fees |
| Ethereum bridge | Third-party bridges | Native Sonic Gateway with fail-safe |
| Chain ID | 250 | 146 |
| Status in 2026 | Wound down in mid-2026 | Live, V2.2 upgrade in September 2026 |
The Sonic network overview lists the headline features. For holders, the most practical differences are the new chain ID, which wallets need to connect, and the new token economics: S launched with an airdrop program, an ecosystem mint and a fresh validator reward model, all covered in our Sonic tokenomics breakdown.
How the Swap Was Structured
The migration ran in phases. From December 18, 2024 to March 31, 2025, the upgrade portal supported two-way swaps, so users could move between FTM and S in either direction while apps and exchanges caught up. After March 31, 2025, swaps became one-way, from FTM to S only. The Fantom migration documentation describes that schedule.
Most exchanges converted customer balances automatically and delisted FTM during 2025. In June 2026, wallet providers relayed a Sonic Labs notice that the Fantom Opera network would stop operating on July 1, 2026, which ended the era of two parallel chains.
Still Holding FTM? Steps to Upgrade
If you find FTM in an old wallet, the route depends on where it sits. The general process is:
- Identify the asset. Native FTM on Opera, ERC-20 FTM on Ethereum and FTM left on an exchange each follow a different path.
- Go to the official portal only. Type my.soniclabs.com/upgrade directly into your browser. Never follow a link from a direct message or search ad.
- Connect the wallet holding the FTM and review which upgrade options the portal shows for that asset.
- Approve and confirm the conversion at 1:1, keeping a small amount of the relevant gas token for fees.
- Add the Sonic network to your wallet (chain ID 146) so the S balance displays.
For FTM still parked on an exchange, check that platform's notices first, since most completed conversions on their customers' behalf. If you prefer to stake the resulting S instead of holding it idle, the same wallet setup carries over.
Protecting Yourself During a Token Migration
Token migrations attract scammers because they create urgency and a legitimate reason to connect a wallet. The common traps around FTM have included:
- Lookalike domains imitating the upgrade portal
- Fake support accounts offering to "help" with migration and asking for a seed phrase
- Airdrop claims that request unlimited token approvals
No legitimate migration ever needs your seed phrase. If a site asks for one, it is a theft attempt, regardless of how official it looks.
FTM to S FAQ
What is the FTM to S conversion rate?
The rate is fixed at 1 FTM to 1 S. It has not changed since the upgrade opened on December 18, 2024.
Can I still convert FTM to S in 2026?
FTM holders can still upgrade through the official portal at my.soniclabs.com/upgrade, though the available route depends on where the FTM is held. Check the portal for the current options before moving funds.
Is S the same token as FTM?
S is a new token on a new chain, issued 1:1 against FTM. The supply started at the same level, but S has its own contract, its own chain (ID 146) and its own issuance and burn rules, so FTM sent to a Sonic address or S sent to an Opera address will not arrive as intended.
Is Fantom dead?
The Fantom Opera network was wound down in mid-2026 and the project continues as Sonic. The community, much of the team's technology lineage and the token supply all carried over to the new chain.
Fantom's Legacy Lives On as S
The Fantom to Sonic upgrade was one of the larger token migrations in crypto, and it preserved holder balances while replacing nearly every piece of technology underneath. For anyone with leftover FTM, the job is short: use the official portal, convert 1:1 and connect to chain ID 146.
Once your tokens are S, you can trade them on the LeveX S spot market or hedge and speculate with S/USDT perpetual futures. Crypto in a Minute covers other rebrands and migrations across the market.