ASI Announces Key Updates on FET, AGIX, OCEAN Merger Ahead of July 1 Upgrade

ASI outlines key phases of token merger, initially focused on integrating AGIX and OCEAN into FET. This phase will launch on July 1 and include systemic changes such as updating the project name and logo.

Phase 1 Highlights

Beginning July 1, ASI will update the project name and logo, and the first step will involve shutting down deposits and withdrawals for AGIX and OCEAN on global exchanges. During this period, FET operations will continue as usual. The migration platform to convert AGIX and OCEAN to FET will be accessed through SingularityDAO's dApp.

Token Swap Details

AGIX and OCEAN tokens will be delisted from exchanges, with the exchange rates set at 1 AGIX for 0.433350 FET and 1 OCEAN for 0.433226 FET, respectively. The move is intended to simplify the migration process and ensure a smooth transition to Phase 2.

Future developments in Phase 2 include deploying ASI tokens on multiple chains and upgrading the FET network to the ASI network. The remaining migration contracts from AGIX/OCEAN to FET will be canceled, paving the way for new contracts to transition to ASI tokens. Other enhancements include integrating the Ethereum Virtual Machine (EVM) and other bridges for efficient cross-chain transfers.

Market Reaction and Prospects

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