Key Points
- ASI Alliance reveals necessary dates and actions required for ASI token merger.
- The workforce broadcasts supported wallets and conversion processes, together with necessary reminders.
The Artificial Superintelligence Alliance not too long ago introduced that the ASI token merger is scheduled for implementation beginning July 1 – that is Phase I of the merger.
Now, the workforce behind the undertaking reveals necessary dates and key actions required for the method.
In a brand new put up on X, they announce the daybreak of a unified AI ecosystem of the token merger between Fetch.ai, Ocean Protocol, and SingularityNET.
They famous that this distinctive and impressive endeavor goals to create a robust and unified ASI ecosystem below the brand new ASI ticker which goals to develop into the main drive in decentralized AI.
Here is what’s going to occur on July 1, 2024:
- Migration opens and conversion contracts permitting AGIX and OCEAN holders to transform their tokens to FET might be out there.
- AGIX and OCEAN deposits and withdrawals might be halted in exchanges.
- AGIX and OCEAN tokens might be delisted from exchanges.
- Project branding will transition to Artificial Superintelligence Alliance throughout third-party platforms.
Token migration journey
According to the notes, the token merger will impression customers’ current tokens.
Exchange-Held Tokens:
These tokens might be routinely transformed to ASI.
Conversion Rates:
AGIX tokens will migrate to FET at a conversion fee of 1 AGIX to 0.433350 ASI.
OCEAN tokens will migrate to FET at a conversion fee of 1 OCEAN to 0.433226 ASI.
Supported wallets and conversion processes
The new ASI token merger might be appropriate with all main software program wallets equivalent to MetaMask, and Trust Wallet, and {hardware} wallets equivalent to Ledger and Trezor, acquainted to the respective communities.
Important particulars for guide conversion on-chain and self-custody
During Phase I, the property might be consolidated throughout the Ethereum Network with future plans to extend interoperability with different ecosystems equivalent to BNB Chain and Cardano lively in Phase II.
Users have to attach current wallets to the official conversion portal hosted on the SingularityDAO dApp.
The on-screen directions might be adopted for changing tokens.
The workforce shared a photograph that depicts the contract approval course of:
They additionally shared one other picture demonstrating the migration affirmation:
The last step is to verify the transaction through the pockets.
Also, holders working with AGIX, OCEAN or FET for the primary time may need so as to add the token contract to the pockets as a way to make it possible for balances are correctly displayed.
The SingularityDAO conversion portal makes this simple by incorporating an “add to Wallet” characteristic within the migration interface.
The conversion might be verified through a block explorer equivalent to Etherscan. For customers who’re holding FET for the primary time on a pockets like MetaMask, they could want so as to add FET as a customized token to make it possible for it’s correctly displayed within the pockets.
Important reminders
The workforce at ASI Alliance additionally shared the next reminders:
- conversion window stays open for years
- devoted conversion good contracts are the one official instruments to depend on
- there might be customary transaction charges, however no extra conversion costs
- there might be no have to enter non-public knowledge
- staked FET might be routinely migrated throughout Phase II, as staking rewards proceed uninterrupted
- liquidity suppliers must manually withdraw funds and re-allocated them to up to date swimming pools
Phase II – Migration from FET to ASI
The last step of the merger includes migration from FET to ASI. New migration contracts will develop into out there for AGIX and OCEAN tokens that might be migrated to FET.
Migration contracts may even be deployed from EVM-based FET.
FET Mainnet Tokens might be routinely transformed to ASI.
Network engineers and validators will execute numerous steps:
- code deployment for enhancements and safety patches
- good contract migration with vital updates to make sure compatibility and performance
- node synchronization to make sure working the identical up to date protocol model
- testing and validation to resolve any points
- last rollout
The workforce at ASI Alliance additionally said that in the course of the community improve, there could also be potential community downtime and non permanent disruptions on exchanges as they replace markets.
Also, each element of the community improve has undergone rigorous testing to reduce any impression on customers and keep the integrity of the community, in keeping with the workforce’s post on X.
