Friday, July 12, 2024
HomeCoins NewsEthereumASI Token Merger: What that you must know earlier than July 1st

ASI Token Merger: What that you must know earlier than July 1st

- Advertisment -
- Advertisment -
  • The ASI token merger will merge AGIX, OCEAN and FET tokens right into a single ASI token beginning July 1, 2024.
  • Fetch.ai warns the group to be cautious of scams and solely belief official sources throughout ASI token migration.
  • Holders on centralized exchanges like Binance don’t must act; their tokens will routinely convert to FET.

Fetch.ai, a participant within the upcoming Synthetic Superintelligence Alliance (ASI) token merge, has issued a rip-off warning to customers as its July 1st launch date approaches.

The intention of the merger is to consolidate the three present tokens – AGIX SingularityNET, OCEAN Ocean Protocol and Fetch.ai's personal FET – right into a single new token known as ASI.

The primary section of the ASI migration focuses on merging the three tokens on the Ethereum blockchain. Holders on different chains should bridge their tokens from their respective chains to take part in Part 1. Those that favor to attend for help from completely different chains akin to Cardano or Polygon can go for Part 2.

- Advertisement -

The rebranding will see the mission renamed Synthetic Superintelligence Alliance throughout main platforms. Moreover, AGIX and OCEAN will briefly merge into FET beneath the ASI banner. FET buying and selling will proceed with out interruption beneath the FET ticker.

On July 1, 2024, mission names and logos might be up to date, and deposits and withdrawals for AGIX and OCEAN might be terminated. Nevertheless, FET deposits, withdrawals and buying and selling will proceed as regular. Migration platform for AGIX and OCEAN to FET will open on SingularityDAO dApp. Moreover, AGIX and OCEAN will start to be delisted from exchanges.

Moreover, token holders with funds on centralized exchanges akin to Binance don’t must take any motion. Their OCEAN and AGIX tokens will routinely convert to FET on July 1st on the applicable ratio. A clean transition to ASI will observe in mid-July. People who self-manage their funds throughout the Ethereum mainnet will obtain step-by-step guides and tutorials to facilitate a seamless transition.

Part II will give attention to the inclusion of group members, particularly for individuals who have chosen to self-manage their funds. Moreover, the ASI token might be deployed cross-chain. The Fetch.ai community is being upgraded to the ASI community.

- Advertisement -

As well as, new migration contracts might be launched to transform from FET, AGIX and OCEAN to ASI. The Ethereum digital machine and different bridges will open to facilitate ASI token transfers. As well as, exchanges will start migrating spot markets from FET to ASI.

Fetch.ai emphasizes that at no time will people must disclose non-public data, together with seed phrases. The group is cautioned to concentrate on potential scams throughout this transition interval. Malicious actors might try impersonation, spoofing, and social engineering techniques. It is very important belief solely official sources of knowledge.

Disclaimer: The data offered on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any type. Coin Version shall not be responsible for any losses incurred because of the usage of stated content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.

- Advertisement -

- Advertisment -
- Advertisment -
RELATED ARTICLES
- Advertisment -
- Advertisment -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

- Advertisment -
- Advertisment -