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Upbit, a trusted global digital asset exchange, has announced plans to support trading for Sonic SVM (SONIC) on the KRW, BTC, and USDT markets.
Upbit Announces Market Support for Sonic SVM (SONIC) on KRW, BTC, and USDT Markets
Liquidity and Trading Timeline
Upbit has stated that it will take some time to ensure sufficient liquidity for stable trading of Sonic SVM (SONIC). The platform plans to make a detailed announcement at least an hour before trading support activation.
Deposits and withdrawals for SONIC will be supported on the Solana network. Users are advised to carefully check the network before initiating a transaction.
Trading Restrictions
To ensure a smooth launch, Upbit will implement the following restrictions in the initial phase:
Buying Restriction: Buy orders will be restricted for approximately five minutes after trading begins.
Minimum Selling Price Restriction: The minimum selling price will be announced one hour before trading support begins.
Order Type Restrictions: Only limit orders will be allowed for approximately one hour after trading begins.
Deposit Rules
Users must comply with the following deposit rules to avoid delays or issues:
Network Confirmation: Deposits are only supported on the SONIC-Solana network.
Travel Rule Compliance: Deposits made from exchanges that are not on the list of Travel Rule compliant virtual asset service providers will not be processed.
Personal Wallet Verification: Only deposits from verified personal wallet addresses will be accepted.
Source of Funds Verification: High-value deposits may require users to provide documentation on the source of funds.
About Sonic SVM
Sonic SVM is an aggregation network on Solana designed to address potential network congestion issues that arise during on-chain game development. It aims to enhance the Solana gaming ecosystem by leveraging the proprietary HyperGrid system to create game-dedicated aggregations on Solana.
*This is not investment advice.