As a seasoned crypto investor with a keen interest in the AI token sector, I’m excited about the upcoming ASI token merger between Fetch AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). The potential for consolidation into a unified single token is a game-changer that could set new standards for token integration and rebranding within the crypto space.
The highly anticipated merge of ASI’s token, involving Fetch AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), is poised to revolutionize the AI token sector starting from July 1, 2024. With excitement building, Fetch AI has recently revealed key details about this upcoming event.
As an analyst, I’d highlight that this proposed merger of the ASI tokens is intended to bring together the three distinct tokens into one cohesive unit. This significant move signifies the dawn of a new phase for the Artificial Superintelligence Alliance.
Fetch AI Spotlights Key Details On ASI Token Merger
In two major stages, the process of merging the ASI token with Fetch AI (FET) will commence. Initially, AGIX and OCEAN tokens will be incorporated into FET. Subsequently, FET will undergo a transformation into ASI.
According to Fetch AI, in the initial stage, SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens will be consolidated into FET. Subsequently, FET will transform into ASI. It’s important to note that during this period, trading of FET will continue uninterrupted, guaranteeing a smooth rebranding process on major cryptocurrency platforms like CoinMarketCap and CoinGecko.
As a crypto investor, I’m looking forward to the upcoming changes in the project starting July 1, 2024. The rebranding process will include new names and logos for the projects, while AGIX and OCEAN deposits will be closed. However, there’s no need to worry about FET deposits or trading as they will remain unchanged. To facilitate the migration, a platform will be available on the SingularityDAO dApp.
During this stage, we prioritize bringing onboarding interactions and data collectors on board to facilitate a seamless transformation. Fetch AI recommends taking things at a comfortable pace, with the primary objective being to establish a solid foundation for the upcoming rebranding process.
In contrast, the second stage will focus on community involvement and the distribution of ASI tokens. During this period, we will give preference to token holders who keep their tokens in personal wallets, transfer ASI tokens to various blockchains, and implement new migration contracts for Fetch AI’s ASI upgrades.
As a researcher studying the latest update, I’ve discovered that important milestones are approaching, specifically on July 1st. During this time, the branding for ASI will be implemented and rolled out. Additionally, I’ve calculated the conversion rates from AGIX to ASI as 0.433350, from OCEAN to ASI as 0.43226, and from FET to ASI as 1 unit.
Scam Caution Amid Transition
As a token analyst, I would explain it this way: During the shift from FET to ASI, we’ll need to introduce new migration contracts for both AGIX and OCEAN tokens that haven’t been converted yet, as well as those based on Ethereum Virtual Machine (EVM). All existing FET Mainnet tokens will undergo a seamless conversion to ASI once Fetch AI carries out its mainnet upgrade.
“According to Fetch AI’s announcement, the migration contracts will remain open for an extended period of time, allowing sufficient time for all token owners to manually exchange their tokens. This includes those whose funds are currently locked in staking or other programs.”
As a researcher, I would like to add that Fetch AI strongly advises caution during the upcoming transition. It’s essential to be wary of potential impersonation scams, false links, and fraudulent social media accounts. To guarantee a smooth and secure process, please make sure to validate all information through official channels before taking any action.
The merger of the ASI token signifies a significant shift in the AI coin market, possibly establishing a fresh benchmark for token assimilation and rebranding within the cryptocurrency realm. For the time being, however, priority lies in achieving a smooth implementation and leveraging the heightened interest generated by the ASI token.
Concurrently, the three cryptocurrencies poised for merger experienced declines today. FET dipped 4.18% to reach a price of $1.61 and saw an increase in trading volume by 33% amounting to $281.78 million during the writing process. In contrast, AGIX sank 4.24% to touch $0.6636.
Concurrently, the OCEAN price declined by almost 4% within the past 24 hours, while its daily trading volume dropped around 8%, reaching approximately $76.73 million.
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2024-06-27 11:06