Ocean Protocol, already announced updates on the ASI token merger, which will begin on July 1. This comes after the merger was postponed to July 15.
This strategic move will initially merge SingularityNET’s AGIX and Ocean Protocol’s OCEAN token into FET. Fetch.ai, before switching to ASI codes at a later stage. The merger aims to streamline operations and improve efficiency for token holders.
Notably, token conversion will be facilitated through the SingularityDAO dApp. Key steps include temporarily merging AGIX and OCEAN tokens into FET and maintaining trading operations under the FET ticker.
Phase II of the merger will see the deployment of the ASI token across multiple blockchain networks, supported by an upgrade to the FET network and the introduction of new migration contracts. This phase will ensure continuous and efficient interoperability of the token across different ecosystems.
The conversion rate is: 1 FET – 1 ASI; 1 AGIX – 0.433350 ASI; and 1 OCEAN – 0.433226 ASI. Furthermore, the name change to Superintelligence Alliance will be reflected on various data aggregators, such as CoinMarketCap and CoinGecko.
Previously, the Binance exchange announced that it would support the merger process into ASI and suspend trading of FET, AGIX and OCEAN starting from July 1. This move caused a sell-off situation for both 3 AI tokens were misinterpreted by market participants announcing that the exchange would delist.
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According to Cryptobriefing
