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Binance Will Support the Fetch.ai (FET), Ocean Protocol (OCEAN) and SingularityNET (AGIX) Token Merge

Binance Will Support the Fetch.ai (FET), Ocean Protocol (OCEAN) and SingularityNET (AGIX) Token Merge

2024-06-14 10:30

Fellow Binancians,

Binance will support the Ocean Protocol (OCEAN) and SingularityNET (AGIX) token merge to Fetch.ai (FET) using the new project name Artificial Superintelligence Alliance.

At 2024-07-01 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for OCEAN and AGIX. 

General 

  • Deposits and Withdrawals

    • At 2024-07-01 03:30 (UTC), deposits and withdrawals of Ocean Protocol (OCEAN) and SingularityNET (AGIX) will be suspended. Please ensure that you leave sufficient time for your OCEAN and AGIX deposits to be fully processed prior to this time. 

    • Binance will make a separate announcement after the event is completed.

    • After the event is complete, deposits and withdrawals of OCEAN and AGIX tokens will no longer be supported.

  • Binance will handle all technical requirements for users who are involved in this event.

  • Users may refer to the announcement from the project team for more information.

Merge Details

  • OCEAN and AGIX tokens will assume the ticker of FET at Binance.

  • All OCEAN and AGIX tokens will be swapped to FET at a ratio of:

    • 1 OCEAN = 0.433226 FET;

    • 1 AGIX = 0.433350 FET.

Spot

  • At 2024-07-01 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for OCEAN and AGIX. 

  • The exact trading pairs being removed are: AGIX/BTC, AGIX/FDUSD, AGIX/TRY, AGIX/USDT, OCEAN/BNB, OCEAN/BTC, OCEAN/TRY, OCEAN/USDT.

  • All trade orders will be automatically removed after trading ceases in each respective trading pair.

  • Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-07-01 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.

Futures

  • Binance Futures will close all positions and conduct an automatic settlement on the OCEANUSDT and AGIXUSDT USDⓈ-M Perpetual Contracts at 2024-06-25 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contract(s) starting from 2024-06-25 08:30 (UTC). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the OCEANUSDT and AGIXUSDT USDⓈ-M Perpetual Contracts without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. A separate announcement will be made for relisting.

  • At 2024-06-25 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the OCEANUSDT and AGIXUSDT symbols.  

Margin

  • Binance Margin will delist the AGIX/BTC, AGIX/USDT, OCEAN/BTC, and OCEAN/USDT cross margin and isolated margin pair(s) at 2024-06-26 06:00 (UTC).

    • At 2024-06-21 06:00 (UTC), Binance Margin will suspend isolated margin borrowing on the aforementioned isolated margin pairs.

    • At 2024-06-26 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Binance Margin. 

  • Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallet to Spot Wallet prior to the cessation of margin trading at 2024-06-26 06:00 (UTC). Binance will not be responsible for any potential losses.

  • Portfolio Margin users are advised to transfer the token(s) mentioned above out of their Margin Wallet to their Spot Wallet and to top up their margin balance before 2024-06-26 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the token(s) mentioned above from the Margin Wallet. 

  • All OCEAN and AGIX balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-06-26 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information. 

  • A separate announcement will be made for relisting. 

Loans

  • At 2024-06-25 03:00 (UTC), Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for OCEAN and AGIX (both loanable tokens and collateral tokens will be closed). Users are strongly advised to repay their outstanding OCEAN and AGIX loans before 2024-06-25 03:00 (UTC) to avoid any potential losses.

  • Please refer to the Binance Loans (Stable and Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions.

Earn 

  • From 2024-06-28 03:00 (UTC), Binance Simple Earn will cease support for OCEAN and AGIX Simple Earn Flexible Products, and subscriptions will no longer be available. 

  • For existing subscriptions, OCEAN and AGIX balances in Simple Earn Flexible Products will be automatically redeemed and credited to users’ Spot Wallets after 2024-06-28 03:00 (UTC). Binance Simple Earn will assist impacted users by resubscribing for FET Flexible Product, according to the above swap ratio after the event is complete.

  • Users may also choose to redeem their assets from OCEAN and AGIX Simple Earn Flexible Products anytime before 2024-06-28 03:00 (UTC).

Binance Pay

  • At 2024-07-01 03:00 (UTC), Binance will remove OCEAN, and AGIX from the list of supported cryptocurrencies on Binance Pay.

Gift Card

  • At 2024-06-28 (UTC), Binance will no longer support the creation of OCEAN, and AGIX Gift Cards.

    • While users may proceed to redeem any unredeemed OCEAN and AGIX Gift Cards for OCEAN and AGIX tokens before 2024-06-28 (UTC), the redeemed tokens will be subject to automatic conversion to the FET tokens.

    • After 2024-06-28 (UTC), all unredeemed OCEAN and AGIX Gift Cards will be automatically converted to the FET tokens.

Convert

  • At 2024-06-20 03:00 (UTC), Binance Convert will delist OCEAN, AGIX, and all associated pairs.

Binance Auto-Invest

  • Binance Auto-Invest will delist OCEAN and AGIX after 2024-06-18 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.

Buy & Sell Crypto

  • At 2024-06-20 03:00 (UTC), Buy & Sell Crypto will delist OCEAN, AGIX, and all associated pairs.

Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-06-14

Note: This announcement was last updated on 2024-06-20 to state that Binance will continue to list FET trading pairs and its associated products, and rename the project name from “Fetch.ai” to “Artificial Superintelligence Alliance”.

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

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