Dear Traders,

Phemex supports the rebranding and swap of FTM tokens and will temporarily suspend deposit, withdrawal, and trading services for FTMUSDT, including spot, margin, and contract trading. A separate announcement will be issued regarding the rebranding and swap of FTM tokens once the schedule is finalized.

Token Swap and Rebranding

FTM tokens will assume the ticker of S on Phemex

All FTM tokens will be swapped to S at a ratio of 1 FTM = 1 S.

Spot Delisting

• 10:00 UTC on January 6, 2024 – The FTM Deposit and Withdrawal will be disclosed and the FTM/USDT pair will be delisted from the Phemex spot market. All pending trade orders will be automatically removed after the delisting time. Any withdrawal requirements after this timestamp should be submitted to our CS team at support@phemex.zendesk.com for further help.

Margin Delisting

• 10:00 UTC on January 2 – Phemex Margin trading will suspend borrowing on this margin pair.

• 10:00 UTC on January 3 – FTM Margin trading will be delisted. Phemex Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned margin pairs. This pair will then be removed from Phemex Margin.

• Please note that users will not be able to update their positions during the delisting process. We strongly advise all users to close their positions and/or transfer their assets from their Margin account to their Spot Wallet prior to the cessation of margin trading on January 3 at 10:00 (UTC). Phemex will not be responsible for any potential losses.

• If users have loans in matic within their Margin accounts, the system will cancel all open orders for these tokens and initiate the liquidation process to close positions in FTM, and to repay the debts. Users should closely monitor their risk level to avoid potential liquidation that may result from the removal of the aforementioned tokens from the Margin account.

Contract Delisting

• 06:30 UTC on January 6, 2025 – Phemex will only support ReduceOnly orders for the FTMUSDT contract.

• 07:00 UTC on January 6, 2025 – All orders and trading for this trading pair will be closed.

• All positions still open for this pair after 07:00 UTC will be closed based on the asset’s average mark price in the 30-minute time period from 06:30 UTC to 07:00 UTC on January 6, 2025.

Thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.

The Phemex Team