As a follow-up of the Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) token merger, ASI (Artificial Superintelligence Alliance) just lately revealed important developments looming on the matter, scheduled for July 1. According to a put up shared on X as we speak, June 20, beginning July 1, section 1 of the merger will begin. This is anticipated to carry a couple of plethora of adjustments to the AI tokens’ functioning and future endeavors. Here’s a deeper dive into the announcement on the upcoming section 1 course of, as revealed by ASI.
ASI Outlines Token Merger Steps
In its put up on X, ASI spotlighted a short overview of section 1 of the merger, demonstrating a well-structured and systematic strategy. This encompassed the updation of venture names and logos, the momentary merging of AGIX and OCEAN into FET, and token conversion charges.
Notably, beginning July 1, the venture logos and names are to be modified to ASI. Simultaneously, deposits and withdrawals for AGIX & OCEAN will start to shut throughout world exchanges, aiming to streamline the migration course of.
However, FET is to stay unaffected by these migration processes as deposits and withdrawals for Fetch.ai will proceed as typical. The migration platform for changing AGIX and OCEAN to FET is obtainable on SingularityDAO dApp.
Lastly, AGIX and OCEAN can be delisted from exchanges. The conversion charge for AGIX is 1 AGIX to 0.433350 FET and the conversion charge for OCEAN is 1 OCEAN to 0.433226 FET.
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ASI Draws Hints At Phase 2
Meanwhile, ASI additionally rolled out a short overview of what section 2 goals to carry to the token merger. As per the put up, the section 2 ensures that the ASI token is deployed throughout chains. Further, the FET community upgrades to the ASI community.
The leftover AGIX/OCEAN to FET migration contracts can be eradicated and can now not be supported. Moreover, new migration contracts can be launched to make sure the transition to the ASI token.
Other developments embody the inclusion of an EVM and different bridges, streamlining cross-chain transfers.
In 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 succeed in $0.6723, whereas OCEAN surged 23.38% to relaxation at $0.6736.
It’s additionally price noting that, Binance, the world’s main crypto change, just lately revealed plans to increase help to the AI token merger.
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