The merger of $FET , $AGIX and $OCEAN is an important event in the blockchain and crypto space. The following is a clear point-by-point representation and summary of this merger:
Merge Background:
Three projects, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), announced that they would merge their tokens into ASI to form an artificial intelligence super league.
Merge process:
Minting Additional FET Tokens: To support the conversion mechanism, Fetch.ai minted 1,477,549,566 additional FET tokens.
Total FET supply after the merger: After this minting, the new total FET supply will reach 2,630,547,141.
Temporary merger: According to the plan, the first phase will temporarily merge AGIX and OCEAN tokens into FET tokens, and then these FET tokens will be uniformly converted into ASI tokens.
— $FET total supply of 2,630.55 million tokens, to be re-labeled as $ASI
— $AGIX tokens will be converted to $ASI at a ratio of 0.433350:1
— $OCEAN tokens will be converted to $ASI at a ratio of 0.433226:1
If the FDV of the three tokens is fully transferred to
$ASI, for a total combined FDV of $7.6 billion.
Merger Timeline:
The ASI token merger is scheduled to begin on July 1, 2024.
Exchange Support:
Binance has indicated that it will support the merger and will stop trading on OCEAN and AGIX on July 1.
User Action:
Users can exchange tokens at a fixed exchange rate through the SingularityDAO dApp platform, ultimately achieving a conversion of 1 FET to 1 ASI.
To cooperate with the migration, the deposit and withdrawal services of AGIX and OCEAN will be temporarily closed on major exchanges, while the trading and deposit and withdrawal services of FET will not be affected.
Merger Impact:
The merger could enhance the projects’ influence and resource integration capabilities in the field of artificial intelligence.
This could be an opportunity for investors, but it also comes with risks, as the merger could lead to volatility in token prices.
risk warning:
When participating in such merger events, investors should fully understand the relevant risks, including market fluctuations, technological risks, policy risks, etc.
In general, the merger of FET, AGIX and OCEAN is a complex process involving multiple projects, exchanges and users, which requires cooperation and support from all parties. For investors, this is an opportunity that needs to be carefully considered and operated.
