Migration to Sonic
As Fantom transitions to Sonic, Beethoven X evolves into BEETS, redefining its core mission and technical foundation. Medium post outlines the migration process, technical updates and strategic focus.
The following information should help users with migrating their assets to Sonic network.
FTM (Fantom) to S (Sonic)
Migrating FTM to S is be available through official Sonic Labs' bridge.
sFTMx
Since sFTMx cannot be directly migrated, users will need to unstake and withdraw from their $sFTMx position.
For migration to stS (The new Beets managed Sonic LST), users will need to:
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Unstake their sFTMx using the "Unstake" tab on the sFTMx page.*
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Wait until the 24 hour unstaking period concludes and then withdraw the FTM using the "Withdraw" tab on the sFTMx page.*
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Upgrade FTM for S (Sonic's native token) through Sonic Labs' bridge.
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Stake S for stS using the stS page.
*Alternatively instead step 1 and 2 users can directly swap the sFTMx to FTM on open market, but this may result in a less favorable rate compared to the standard unstaking process.
maBEETS and BEETS
On Fantom maBEETS is a 80/20 LP with BEETS and wFTM. On Sonic maBEETS is transitioned to 80/20 LP with BEETS and stS (Sonic based LST managed by Beets).
BEETS can be migrated to Sonic using LayerZero's OFT contracts. While this should be available through Stargate bridge UI soon, then for the time being an alternate option is set up. To start the process, go to Fantom maBEETS UI.
The UI will guide the user through the following steps:
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Break maBEETS position on Fantom to withdraw the proportional amounts of wFTM and BEETS.
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Bridge BEETS to Sonic, by which users will receive lzBEETS on Sonic network.
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Unwrap their wFTM for FTM.
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Upgrade their FTM to S using Sonic through official Sonic Labs' bridge.
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Stake S for stS using the stS page.
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Migrate their lzBEETS to BEETS and create the maBEETS on Sonic on the maBEETS UI.
The migration will remain two-ways for 90 days, which allows BEETS to be migrated both ways at a 1:1 ratio. Through arbitrage opportunities this should guarantee BEETS price to be similar on both chains for that duration.
Fantom LPs and other Fantom assets (Moving to Sonic not yet available)
To migrate any other asset to Sonic the users will need to use the methods provided by the corresponding projects. There is also no direct option to migrate the user owned LPs, users will need to break their LPs and migrate the underlying assets.
While we advise to check each project directly for their migration paths, then here are the migration/bridging options for some more commonly used assets on Beets.
Migrating FTM on Fantom to S on Sonic
Exchange wFTM for S (Sonic's native token) through Sonic Labs' mechanism (link TBA).
Wormhole bridged assets (USDC.e)
Can be bridged to Ethereum mainnet using Portal bridge.
Axelar bridged assets (axlUSDC)
Can be bridged to various networks using Squidrouter.
LayerZero bridged assets (lzUSDC)
Can be bridged to various networks using PancakeSwap Stargate UI.