Key Points
- ASI Alliance introduced an replace on the ASI token merger, scheduled for implementation beginning July 1.
- The replace allows environment friendly execution and descriptions timelines and essential steps.
The ASI Alliance introduced vital progress and updates on the ASI token merger scheduled for implementation beginning July 1.
The token merger will briefly consolidate SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, earlier than transitioning to the ASI ticker image at a later date.
In the announcement shared by way of X, the group at ASI Alliance revealed that the replace allows environment friendly execution of the token merger, and descriptions the timelines and essential steps for token holders, for a clean and clear course of.
Schedule and token merger steps
Phase I Overview
- Project title and logos are up to date to Artificial Superintelligence Alliance; the rebranding of the undertaking will happen throughout main platforms together with exchanges comparable to CoinMarketCap, CoinGecko, and extra.
- AGIX and OCEAN briefly merge into FET token below the Artificial Superintelligence Alliance.
- FET markets stay open below the FET ticker with no interruption.
Phase I Timeline
July 1, 2024
- Project branding transitions to the Artificial Superintelligence Alliance (ASI Alliance).
- Exchanges start phasing out deposits and withdrawals for AGIX and OCEAN in preparation for the token merger.
- Trading and account exercise for FET stays unaffected.
- A migration platform launches on the SingularityDAO dApp, permitting customers to transform their AGIX and OCEAN tokens to FET.
- Delistings of AGIX and OCEAN tokens from exchanges begin.
- Spot and perpetual buying and selling continues seamlessly below the unified FET ticker.
Conversion charges to FET
- $AGIX tokens migrate to FET, at a conversion charge of 1 $AGIX to 0.433350 FET
- $OCEAN tokens migrate to FET, at a conversion charge of 1 $OCEAN to 0.433226 FET
Phase II Overview
- ASI Token is deployed throughout chains.
- FET community upgrades to ASI community.
- Migration contracts from AGIX/OCEAN to FET depleted and deprecated
- Migration contracts from FET, AGIX, and OCEAN to ASI open, and token holders can migrate their holdings
- EVM and different bridges open, facilitating ASI token transfers between totally different blockchain networks
- Exchanges start migrating spot markets from FET to ASI
Phase II timelines nonetheless want affirmation.
The group at ASI Alliance notes that this technique ensures the smoothest transition, whereas they continue to be devoted and environment friendly via the entire course of.
Further updates and directions will probably be offered as obligatory.
Recently, Binance has launched an official announcement, revealing that the alternate will help Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) token merge to Artificial Superintelligence (ASI).
