ASI Token Merger: Key Points to Consider Ahead of July 1st
Fetch.ai has issued a warning to its users regarding potential scams as the July 1st launch of the Artificial Superintelligence Alliance (ASI) token merger approaches.
The merger aims to combine three existing tokens—AGIX from SingularityNET, OCEAN from Ocean Protocol, and FET from Fetch.ai—into a new token called ASI.
To participate in the first phase of the ASI migration and token consolidation on the Ethereum blockchain, holders on other chains must bridge their tokens from their respective chains. Alternatively, they can opt for phase 2 if they prefer to wait for support from different chains like Cardano or Polygon.
As part of the rebranding, the project will be renamed the Artificial Superintelligence Alliance across major platforms. AGIX and OCEAN will temporarily merge into FET under the ASI banner, while FET trading will continue uninterrupted.
On July 1, 2024, project names and logos will be updated, and deposits and withdrawals for AGIX and OCEAN will be closed. FET deposits, withdrawals, and trading, however, will continue as usual. The migration platform for AGIX and OCEAN to FET will be available on the SingularityDAO dApp, while AGIX and OCEAN will start being delisted from exchanges.
For token holders with funds on centralized exchanges like Binance, no action is required. Their OCEAN and AGIX tokens will automatically convert to FET at the appropriate ratio on July 1st, followed by a smooth transition to ASI in mid-July. Detailed guides and tutorials will be provided to individuals holding their funds in self-custody across the Ethereum mainnet to facilitate a hassle-free transition.
Phase II of the migration will focus on onboarding community members, particularly those who have chosen to self-custody their funds. The ASI token will also be deployed across various chains, and Fetch.ai’s network will upgrade to the ASI network.
New migration contracts will be introduced for the conversion from FET, AGIX, and OCEAN to ASI. Bridges and exchanges will facilitate ASI token transfers, and spot markets will be migrated from FET to ASI.
Fetch.ai advises caution during this transition period, emphasizing that individuals should not disclose private information, including seed phrases, at any point. Only trust information from official sources to avoid potential scams, impersonation, and social engineering tactics.
(Note: The information in this article is for informational and educational purposes only and should not be taken as financial advice. Readers should exercise caution and do their own research before making any financial decisions.)