Breaking: ASI Reveals Big Update On FET, AGIX, & OCEAN Tokens Merger

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As a researcher with a background in artificial intelligence and blockchain technology, I find the recent developments surrounding the Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) token merger under the Artificial Superintelligence Alliance (ASI) particularly intriguing. The upcoming phase 1 of the merger, scheduled for July 1, promises significant changes to these AI tokens’ functioning and future endeavors.

Following the announced merge of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) tokens, Artificial Superintelligence Alliance (ASI) has shared important updates regarding the implementation of this plan, set to begin on July 1. According to a post published on X on June 20, phase 1 of the merger will officially kick off on this date, bringing significant modifications to the way these AI tokens operate and their future projects. Let’s delve deeper into the details about the upcoming phase 1 process, as disclosed by ASI.

ASI Outlines Token Merger Steps

In their article about X, ASI highlighted a succinct summary of the initial stage of the merger. They showcased a clear and organized methodology, which included updating project titles and emblems, temporarily combining AGIX and OCEAN under the name FET, and setting token exchange rates.

Starting on July 1, the project labels and monikers will be updated to ASI. Concurrently, deposits and withdrawals for AGIX and OCEAN will commence closing on a global scale, with the objective of facilitating a smooth transition process.

Despite the ongoing migration processes affecting AGIX and OCEAN, FET transactions through Fetch.ai will remain unchanged. You can convert AGIX and OCEAN into FET using the migration platform found on SingularityDAO’s decentralized application.

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ASI Draws Hints At Phase 2

During the same period, ASI announced key objectives of phase 2 in their update. According to the announcement, this stage focuses on distributing the ASI token throughout various blockchains and upgrading the FET network into an ASI network.

The existing AGIX/OCEAN to FET migration agreements will no longer be valid. Instead, fresh contracts will be provided for facilitating the switch to the ASI token.

additional advancements involve integrating an Ethereum Virtual Machine (EVM) and other linkages, making cross-chain transactions more efficient.

After the announcement broke, FET was priced at $1.64, marking a 26.05% increase from the previous day. AGIX jumped 24.77% to hit $0.6723, and OCEAN climbed 23.38% to settle at $0.6736.

As a crypto investor, I’m excited to share that Binance, the global crypto exchange leader, has announced plans to incorporate support for the AI token merger in their platform.

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2024-06-20 15:30