- The Artificial Superintelligence Alliance (ASI) has recently released an important update concerning the upcoming merger of AI tokens FET, AGIX, and OCEAN.
- Key developments have been scheduled for implementation starting July 1.
- AGIX and OCEAN tokens will begin a significant migration process, while FET remains largely unaffected in the immediate term.
Stay informed about the latest in AI token mergers with the upcoming changes to FET, AGIX, and OCEAN – all set to take effect on July 1.
Crucial Steps in the ASI Token Merger
The ASI has outlined critical phases in the token merger, initially focusing on the integration of AGIX and OCEAN into FET. This phase is set to kick off on July 1 and includes systematic changes such as the update of project names and logos.
Phase 1 Highlights
Starting July 1, the ASI will update the project names and logos to ASI, and the initial step will involve closing deposits and withdrawals for AGIX and OCEAN across global exchanges. FET’s operations will continue as usual during this period. The migration platform for converting AGIX and OCEAN to FET will be accessible via SingularityDAO’s dApp.
Details on Token Conversion
AGIX and OCEAN tokens will be delisted from exchanges, with conversion rates set at 1 AGIX to 0.433350 FET and 1 OCEAN to 0.433226 FET, respectively. This aims to streamline the migration process and ensure a smooth transition into phase 2.
Outlook for Phase 2
The ASI has hinted at future developments in phase 2, including deploying the ASI token across multiple chains and upgrading the FET network to the ASI network. Remaining migration contracts for AGIX/OCEAN to FET will be eliminated, paving the way for new contracts to transition into the ASI token. Additional enhancements include integrating an Ethereum Virtual Machine (EVM) and other bridges for efficient cross-chain transfers.
Market Reactions and Prospects
Following the announcement, FET saw a significant uptick, reaching $1.64, an increase of 26.05% over the past day. AGIX also saw an impressive rise of 24.77% to hit $0.6723, while OCEAN climbed 23.38% to $0.6736. It’s worth noting that Binance has revealed plans to support the AI token merger, further bolstering market confidence.
Conclusion
The upcoming token merger orchestrated by the ASI marks a significant milestone in the AI and crypto landscape. With structured phases and clear directives, the transition aims to enhance the functionality and interoperability of these tokens. Investors and stakeholders should stay tuned for further updates and prepare for the new dynamics in the crypto market.
