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Delisting of Fantom (FTM) token

  • Updated


We are writing to inform you that CoinJar has taken the decision and will soon be delisting the Fantom (FTM) token from both CoinJar and CoinJar Exchange.

This decision follows FTM’s migration to the Sonic chain and its new ‘S’ currency. Please note that Sonic is not currently supported by CoinJar, and we will not be facilitating the migration process for FTM to the Sonic chain.

Taking the above token restrictions into account can you please consider your  FTM tokens investment before Wednesday, 5th of February 2025. There is an option to withdraw FTM from your CoinJar account to your external wallet. Capital Gains Tax might apply to any assets sold.

How Will This Affect You?

Buying and Selling

  • Customers will no longer be able to purchase FTM from Wednesday, 5th of February 2025.
  • Customers will no longer be able to sell FTM from Wednesday, 5th of February 2025.

Deposits and Withdrawals

  • Customers with an existing FTM balance will be able to send their tokens from their CoinJar account to an external wallet until further notice (dependent on external factors).
  • Customers will no longer be able to deposit FTM from Wednesday, 5th of February 2025.

CoinJar Exchange (CJX) Pairs

  • All FTM trading pairs will be delisted from the CoinJar Exchange on Thursday, 6th of February 2025. Any open orders will be cancelled and holdings will be transferred to their CoinJar.

Capital Gains Tax might apply to any assets sold.

CoinJar Bundles

FTM is currently an active weight in the CoinJar Universe and ERC-20 bundles.

  • Customers can unbundle their entire bundle at any time before delisting on Wednesday, 5th of February 2025. This will unbundle the FTM holdings but also all other holdings. Unbundling is an irreversible action that transfers the balances of each currency in a bundle to their respective accounts within CoinJar without selling your assets.
  • On Thursday, 30th of January 2025, if customers wish to keep their bundles up-to-date and sell their FTM holdings we will be releasing new bundle weights that will exclude FTM. When customers perform a Bundle Rebalance it will sell the FTM holdings to rebalance their bundle.
  • On Wednesday, 5th of February 2025, if customers wish to do nothing the FTM holdings in their bundles will be automatically unbundled and placed into their CoinJar account at no cost to them. Their bundle will continue to function but will disregard the FTM weights when adding funds.

You can rebalance your portfolio with a click of a button. Steps to follow are here.

The CoinJar fee will apply only to token to token conversions made, rather than being applied to the entire balance of tokens within a Bundle.

1. Select the bundle you wish to rebalance

2. Tap on Rebalance available

3. Select Rebalance

4. Carefully review the provided quote and all relevant information

5. Confirm

CoinJar Recurring Buy (DCA)


CoinJar Recurring Buy (DCA):

Customers can cancel their recurring buy (DCA) at any time before delisting on Wednesday, 5th of February 2025. This will stop any future automated purchases of the FTM tokens.

-On Wednesday, 5th of February 2025, if customers wish to do nothing the FTM recurring buy (DCA) will be cancelled and no further automated purchases of FTM will be made.

To cancel your recurring buy please follow instructions in this link: https://support.coinjar.com/hc/en-au/articles/900003936846-Recurring-Buy#h_01J2SXQ7H73EK39Q0W6G6P8JJB

Timelines

  • Bundle Weight Update: Updated bundle weights for CoinJar Universe and ERC-20 will be released on Thursday, 30th of January 2025 (~11 am AEDT).
  • Selling Period: You will be unable to buy or sell FTM from Wednesday, February 5th 2025.
  • CJX Delisting: FTM will be delisted from CoinJar Exchange on Thursday, 6th of February 2025.

Capital Gains Tax might apply to assets sold as part of the re-balancing process. 

What You Need to Do

For existing FTM Holders: CoinJar recommends that you consider your options, including selling FTM tokens before Wednesday, February 5th 2025, or withdrawing FTM from your CoinJar account to your external wallet.

Capital Gains Tax might apply to any assets sold.



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