As a follow-up of the Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) token merger, ASI (Synthetic Superintelligence Alliance) not too long ago revealed important developments looming on the matter, scheduled for July 1. In response to a submit shared on X immediately, June 20, beginning July 1, part 1 of the merger will begin. That is anticipated to carry a few plethora of adjustments to the AI tokens’ functioning and future endeavors. Right here’s a deeper dive into the announcement on the upcoming part 1 course of, as revealed by ASI.
ASI Outlines Token Merger Steps
In its submit on X, ASI spotlighted a quick overview of part 1 of the merger, demonstrating a well-structured and systematic strategy. This encompassed the updation of mission names and logos, the momentary merging of AGIX and OCEAN into FET, and token conversion charges.
Notably, beginning July 1, the mission logos and names are to be modified to ASI. Concurrently, deposits and withdrawals for AGIX & OCEAN will start to shut throughout international exchanges, aiming to streamline the migration course of.
Nevertheless, FET is to stay unaffected by these migration processes as deposits and withdrawals for Fetch.ai will proceed as normal. The migration platform for changing AGIX and OCEAN to FET is obtainable on SingularityDAO dApp.
Lastly, AGIX and OCEAN will likely be delisted from exchanges. The conversion price for AGIX is 1 AGIX to 0.433350 FET and the conversion price for OCEAN is 1 OCEAN to 0.433226 FET.
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ASI Attracts Hints At Section 2
In the meantime, ASI additionally rolled out a quick overview of what part 2 goals to carry to the token merger. As per the submit, the part 2 ensures that the ASI token is deployed throughout chains. Additional, the FET community upgrades to the ASI community.
The leftover AGIX/OCEAN to FET migration contracts will likely be eradicated and can now not be supported. Furthermore, new migration contracts will likely be launched to make sure the transition to the ASI token.
Different developments embody the inclusion of an EVM and different bridges, streamlining cross-chain transfers.
Within the interim, upon the information surfacing available in the market, FET stood at $1.64, up 26.05% over the previous day. AGIX soared 24.77% to achieve $0.6723, whereas OCEAN surged 23.38% to relaxation at $0.6736.
It’s additionally price noting that, Binance, the world’s main crypto trade, not too long ago revealed plans to increase assist to the AI token merger.
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The offered content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
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