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Why is Coinbase Opting Out of the ASI Token Merger Migration?
Coinbase has announced it will not facilitate the ASI token merger migration for users, diverging from other exchanges. Instead, it will continue trading support for Ocean Protocol (OCEAN) and Fetch. ai (FET) tokens while allowing users to handle migrations through self-custodial wallets, including Coinbase Wallet.
The ASI token merger, set to launch in mid-July, aims to combine OCEAN, FET, and SingularityNET (AGIX) into a single token to promote decentralized AI infrastructure and challenge Big Tech's dominance. The combined market cap of these tokens is currently $5.8 billion. While other major exchanges like Bitfinex, Binance, and KuCoin plan to support the merger and halt the affected tokens starting July 1 or 2, Coinbase’s decision stands out.
The merger will occur in two phases. In Phase 1, starting July 1, OCEAN will migrate into FET. Phase 2 will see the launch of ASI and the merger of FET into ASI in mid-to-late July. Despite not facilitating the migration, Coinbase’s continued support for trading and enabling self-custodial migrations still offers users a way to participate in the merger.
Coinbase's approach contrasts with other exchanges’ strategies, potentially affecting users who prefer custodial solutions. However, by maintaining trading support and shifting migration responsibility to users, Coinbase remains involved while promoting user autonomy in managing the token swap.
#TokenMigration #Cryptocurrency #Blockchain #Cryptonews #Coinbase
Coinbase has announced it will not facilitate the ASI token merger migration for users, diverging from other exchanges. Instead, it will continue trading support for Ocean Protocol (OCEAN) and Fetch. ai (FET) tokens while allowing users to handle migrations through self-custodial wallets, including Coinbase Wallet.
The ASI token merger, set to launch in mid-July, aims to combine OCEAN, FET, and SingularityNET (AGIX) into a single token to promote decentralized AI infrastructure and challenge Big Tech's dominance. The combined market cap of these tokens is currently $5.8 billion. While other major exchanges like Bitfinex, Binance, and KuCoin plan to support the merger and halt the affected tokens starting July 1 or 2, Coinbase’s decision stands out.
The merger will occur in two phases. In Phase 1, starting July 1, OCEAN will migrate into FET. Phase 2 will see the launch of ASI and the merger of FET into ASI in mid-to-late July. Despite not facilitating the migration, Coinbase’s continued support for trading and enabling self-custodial migrations still offers users a way to participate in the merger.
Coinbase's approach contrasts with other exchanges’ strategies, potentially affecting users who prefer custodial solutions. However, by maintaining trading support and shifting migration responsibility to users, Coinbase remains involved while promoting user autonomy in managing the token swap.
#TokenMigration #Cryptocurrency #Blockchain #Cryptonews #Coinbase
Filled. And what happens? $BTC turns. Will it stay that way, I don't know. But several hundred #Bitcoin were definitely bought on coinbase. Wait and see...
The #Coinbase order book is filled with orders for over 100 #Bitcoin at a price of $60K. 🤔
The #Coinbase order book is filled with orders for over 100 #Bitcoin at a price of $60K. 🤔
$BTC VeloData Chartupdate.
After a sharp drop in the share price, I am confident that things will continue to improve
After a sharp drop in the share price, I am confident that things will continue to improve
That's what I want to see. And much higher! $BTC
$BTC oi down, but back up on the mountain, funding low, spot premium, looks good...
👀
Let’s go #bitcoin $BTC
Many more orders that can be picked up in the Binance USD-M $BTC order book at a price of over $72k
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#BinanceBNSOLPYTH 🚀 BNSOL and PYTH Network Collaboration: A Game-Changer for DeFi! 🚀
Binance has officially launched the first phase of the BNSOL Super Stake program in collaboration with Pyth Network (PYTH). This event, running from December 2 to December 16, 2024, offers users the chance to earn PYTH APR Boost airdrop rewards by holding or staking BNSOL. Here’s how this partnership is poised to impact the DeFi ecosystem:
1️⃣ Increased Demand for BNSOL
By offering additional rewards through the PYTH APR Boost airdrop, this collaboration encourages more users to stake BNSOL, driving up the demand for the token. As staking rewards grow, this could significantly increase BNSOL’s liquidity within the ecosystem.
2️⃣ Enhanced DeFi Experience with Real-World Data
Pyth Network brings real-time, high-quality financial data to the blockchain, which is essential for many DeFi applications like derivatives and lending. With this integration, DeFi protocols can leverage accurate and timely data, improving the performance and reliability of decentralized platforms.
3️⃣ Stronger Network Effect
The more users engage with BNSOL through staking, the more it creates a network effect—fueling both the BNSOL and PYTH ecosystems. As BNSOL holders earn rewards, it incentivizes greater participation, enhancing the overall growth of the DeFi space.
4️⃣ Attracting New Users to DeFi
This collaboration brings new use cases and benefits for stakers, which could attract a larger user base to DeFi, especially those who seek stable, reward-generating assets. As more users engage with the staking program, the project’s reach and adoption can grow exponentially.
Ready to stake your BNSOL and earn PYTH rewards? Don’t miss out on this exciting opportunity—join the BNSOL Super Stake program today and boost your DeFi experience!
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