Fetch.ai Issues Scam Warning Ahead of ASI Token Merger, FET to Lead Transition

• The upcoming ASI token merger will unify three significant tokens: AGIX, OCEAN, and FET, beginning on July 1, 2024.
• Fetch.ai has advised the community to be vigilant about scams and trust only official sources throughout the transition period.
• Token holders utilizing centralized exchanges such as Binance do not need to take any action as their tokens will be automatically converted to FET.

Learn about the ASI token merger, its phases, and what it means for token holders, including detailed precautions and transition processes.

ASI Token Merger: A Significant Development in the Cryptocurrency Realm

In a major development within the cryptocurrency sector, the ASI token merger is slated to combine SingularityNET’s AGIX, Ocean Protocol’s OCEAN, and Fetch.ai’s FET into a single ASI token. The merger, scheduled for July 1, 2024, aims to streamline these tokens under one umbrella, enhancing efficiency and integration within the blockchain community.

Phase One: Ethereum Blockchain Integration

The initial phase of this migration will see the consolidation of AGIX, OCEAN, and FET tokens on the Ethereum blockchain. Token holders from other blockchains need to bridge their tokens to participate in this phase. For those preferring support from alternative chains such as Cardano or Polygon, phase two offers a viable option to join the migration.

Brand Transformation: Welcoming the ASI Era

The rebranding associated with this migration will introduce the Artificial Superintelligence Alliance across principal platforms. AGIX and OCEAN tokens will temporarily merge into FET but will continue trading under the FET ticker.

Operational Changes and Platform Updates

On July 1, 2024, the project’s branding elements, including names and logos, will be updated. While the trading for AGIX and OCEAN will cease, FET deposits, withdrawals, and trading activities will remain unaffected. The migration interface for converting AGIX and OCEAN to FET will be accessible via the SingularityDAO dApp. Concurrently, AGIX and OCEAN will begin delisting from various exchanges.

Simplified Conversion for Centralized Exchange Users

For users with holdings on centralized exchanges like Binance, the conversion to FET will be automatic and seamless, requiring no action on their part. This automatic transition will ensure minimal disruption, followed by a gradual shift to the ASI token in mid-July. Self-custody holders on the Ethereum mainnet will be equipped with detailed guides to navigate this transition smoothly.

Phase Two: Community Onboarding and Multichain Deployment

The second phase of the migration will center around onboarding community members, particularly those opting for self-custody. Additionally, the ASI token will be rolled out across different blockchains, marking Fetch.ai’s network upgrade to the ASI network. This phase aims to ensure comprehensive community engagement and the seamless integration of ASI across multiple platforms.

Conclusion

The forthcoming ASI token merger represents a pivotal shift in the blockchain landscape, aiming to unify AGIX, OCEAN, and FET tokens into the singular ASI token. With detailed phases to ensure a smooth transition and robust safeguards against scams, this merger is set to streamline operations and enhance overall efficiency. Stakeholders, particularly those on centralized exchanges, can expect an automated and hassle-free conversion process, while self-custody holders will be guided through every step. As the launch date approaches, staying informed through official channels will be crucial for a successful transition.