Key Points
- ASI Alliance announced an update on the ASI token merger, scheduled for implementation starting July 1.
- The update enables efficient execution and outlines timelines and crucial steps.
The ASI Alliance announced significant progress and updates on the ASI token merger scheduled for implementation starting July 1.
The token merger will temporarily consolidate SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, before transitioning to the ASI ticker symbol at a later date.
In the announcement shared via X, the team at ASI Alliance revealed that the update enables efficient execution of the token merger, and outlines the timelines and crucial steps for token holders, for a smooth and transparent process.
Schedule and token merger steps
Phase I Overview
- Project name and logos are updated to Artificial Superintelligence Alliance
- The rebranding of the project will take place across major platforms including exchanges such as CoinMarketCap, CoinGecko, and more.
- AGIX and OCEAN temporarily merge into FET token under the Artificial Superintelligence Alliance.
- FET markets remain open under the FET ticker with no interruption.
Phase I Timeline
July 1, 2024
- Project branding transitions to the Artificial Superintelligence Alliance (ASI Alliance).
- Exchanges begin phasing out deposits and withdrawals for AGIX and OCEAN in preparation for the token merger.
- Trading and account activity for FET remains unaffected.
- A migration platform launches on the SingularityDAO dApp, allowing users to convert their AGIX and OCEAN tokens to FET.
- Delistings of AGIX and OCEAN tokens from exchanges commence.
- Spot and perpetual trading continues seamlessly under the unified FET ticker.
Conversion rates to FET
- $AGIX tokens migrate to FET, at a conversion rate of 1 $AGIX to 0.433350 FET
- $OCEAN tokens migrate to FET, at a conversion rate of 1 $OCEAN to 0.433226 FET
Phase II Overview
- ASI Token is deployed across chains.
- FET network upgrades to ASI network.
- 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 other bridges open, facilitating ASI token transfers between different blockchain networks
- Exchanges begin migrating spot markets from FET to ASI
Phase II timelines still need confirmation.
The team at ASI Alliance notes that this strategy guarantees the smoothest transition, while they remain dedicated and efficient through the whole process.
Further updates and instructions will be provided as necessary.
Recently, Binance has released an official announcement, revealing that the exchange will support Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) token merge to Artificial Superintelligence (ASI).
