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How to Migrate Fantom to S (Sonic) on Trust Wallet
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概要
Learn how to easily migrate your Fantom to S (Sonic) using Trust Wallet.
In recent months, the Fantom Foundation has rebranded to Sonic Labs. Sonic Labs has introduced a new blockchain platform called Sonic. This move will improve scalability, speed, and user experience within the ecosystem. As part of this transition, the native Fantom (FTM) token is being migrated to the Sonic (S) token on the Sonic network. This article will guide you through how to migrate your Fantom to Sonic using Trust Wallet.
Key Takeaways:
Fantom Foundation has rebranded to Sonic Labs and introduced a new blockchain platform called Sonic to improve scalability, speed, and user experience.
Migrating from Fantom to Sonic is a straightforward process that can be efficiently managed through Trust Wallet.
To Migrate from Fantom to S, You will need to connect your Trust Wallet to the Sonic migration portal.
Why Migrate from Fantom to Sonic?
The migration from Fantom to Sonic is driven by the need for improved performance and integration. Sonic provides several improvements over the existing Fantom Opera network. Sonic can handle more than 10,000 transactions per second with sub-second confirmation times, surpassing Fantom's capabilities. Sonic provides a secure gateway to Ethereum, enabling seamless integration with Ethereum applications and services. Sonic’s architecture is optimized to reduce transaction costs even further compared to Fantom.
What is Sonic?
Sonic is a high-performance, EVM-compatible Layer-1 blockchain that delivers exceptional scalability and efficiency. Sonic uses a Proof-of-Stake (PoS) consensus mechanism and a Directed Acyclic Graph (DAG) structure to achieve rapid transaction processing with sub-second finality. The native Sonic (S) token plays an important role in the network, serving as the primary means for paying gas fees, staking to secure the network, running validator nodes, and participating in governance activities.
Why Use Trust Wallet?
Trust Wallet is a secure, self-custody mobile wallet for storing and managing your cryptocurrencies. Trust Wallet enables users to maintain full control over their private keys and funds. Trust Wallet supports over 100 blockchain networks, making it easy to manage diverse assets. The Trust Wallet app is designed to be intuitive, making it accessible for both beginners and experienced users. Trust Wallet incorporates robust security measures like private key encryption and secure recovery phrases.
Steps to Migrate Fantom (FTM) to Sonic (S) on Trust Wallet
Access the Sonic Migration Portal: Visit the official Sonic website and navigate to the migration portal.
Connect your Trust Wallet: Use the migration tool to connect your Trust Wallet. You can do this by selecting Trust Wallet as your wallet option and following the prompts to connect.
Check your FTM balance: Ensure you have the necessary FTM tokens in your Trust Wallet.
Approve and confirm the swap: Once connected, approve the transaction to swap your FTM tokens for Sonic (S) tokens at a 1:1 ratio.
Receive Sonic Tokens: After confirming the swap, your new Sonic (S) tokens will be reflected in your wallet.
Verify your Sonic balance: Ensure that your Sonic tokens have been successfully transferred to your wallet.
How to Deposit Sonic to Your Trust Wallet Address
You can easily also deposit Sonic from another wallet or from a centralized exchange, where supported. Here’s how:
Select “Receive” from the home screen.
Search for “Sonic” and select it.
From here you have two options. You can either:
Copy your deposit address and use that on your exchange account or other wallet to send funds to.
Use the “Deposit from exchange” option to deposit crypto from your exchange account.
Conclusion
Migrating from Fantom to Sonic is a straightforward process that can be efficiently managed through Trust Wallet. With its enhanced performance, better Ethereum integration, and lower fees, Sonic offers improvements over the existing Fantom network. Trust Wallet provides a secure and user-friendly environment to store and manage your tokens during this transition.
Disclaimer: Content is for informational purposes and not investment advice. Web3 and crypto come with risk. Please do your own research with respect to interacting with any Web3 applications or crypto assets. View our terms of service.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.