Leading cryptocurrency exchange Binance has announced its support for the upcoming token merger involving Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX). These tokens will be consolidated into a new unified token called Artificial Superintelligence (ASI).
Key Details About the Merger
Timeline and Service Adjustments
- Deposit/Withdrawal Suspension: Starting July 1, 2024, at 03:30 UTC, Binance will pause deposits and withdrawals for FET, OCEAN, and AGIX. Users are advised to complete transactions before this deadline.
- Spot Trading Delistings: All FET, OCEAN, and AGIX spot trading pairs will be delisted on July 1, 2024, at 03:00 UTC. The new ASI trading pairs will launch on July 5, 2024, at 08:00 UTC.
Conversion Rates
- 1 FET = 1 ASI
- 1 OCEAN = 0.433226 ASI
- 1 AGIX = 0.433350 ASI
Binance will handle all technical aspects of the merger, ensuring a seamless transition for users.
Impact on Binance Services
Futures Trading
- All USDⓈ-M perpetual contracts for FETUSDT, OCEANUSDT, and AGIXUSDT will close automatically on June 25, 2024, at 09:00 UTC. Users should close open positions beforehand to avoid forced settlements.
Margin Trading
- AGIX, FET, and OCEAN margin pairs (both cross and isolated) will be delisted on June 26, 2024, at 06:00 UTC. Transfer assets from margin wallets to spot wallets prior to this date.
Loans and Earn Products
- Loans: Outstanding FET, OCEAN, and AGIX loans will close on June 25, 2024, at 03:00 UTC. Repay loans early to prevent losses.
- Simple Earn: Flexible and locked products for these tokens will discontinue on June 28, 2024, at 03:00 UTC. Balances will be redeemed to spot wallets automatically.
Other Affected Services
Binance Pay, gift cards, conversions, auto-invest, and "Buy Crypto" services will phase out support between June 18 and July 1, 2024. Check the official Binance announcement for specifics.
👉 Explore ASI token merger FAQs
FAQs
1. What is the purpose of the ASI token merger?
The merger aims to unify Fetch.ai, Ocean Protocol, and SingularityNET’s ecosystems under a single token (ASI) to enhance collaboration and scalability in AI-focused blockchain projects.
2. How do I convert my existing tokens to ASI?
Holders don’t need manual conversions. Binance will automatically swap eligible FET, OCEAN, and AGIX balances at the specified rates.
3. Will trading be available during the transition?
No. Spot trading for the old tokens pauses on July 1, and ASI trading begins on July 5. Plan transactions accordingly.
👉 Learn more about token mergers
4. What happens to my staked tokens in Earn products?
Redemptions will occur automatically by June 28, with funds moved to your spot wallet. No action is required.
5. Are other exchanges supporting this merger?
Check each platform’s announcements. Binance is among the first major exchanges to confirm support.