The primary part of the Alliance for Synthetic Intelligence (ASI) token merger started on July 1st with the merger of two synthetic intelligence (AI) tokens: SingularityNET’s AGIX and Ocean Protocol’s OCEAN.
In Part 1 of the $7.5 billion token merger, AI tokens merged into Fetch.ai’s FET (FET) token, resulting in a large-scale delisting of the previous tokens on all crypto exchanges.
Persistent obstacles to ASI merger
Nonetheless, not all crypto exchanges help this merger for his or her customers. Coinbase has determined to not help the ASI merger. In consequence, Coinbase didn’t implement a mechanism that will mechanically convert customers’ tokens throughout a merge.
In the meantime, FET and OCEAN buying and selling will proceed to function on Coinbase till additional discover. Customers who want to manually switch their holdings to FET can use a workaround shared by Coinbase:
“After the migration is launched, customers will be capable to switch their OCEAN and FET to ASI utilizing a self-protected pockets similar to Coinbase Pockets. The ASI token pool will likely be appropriate with all main software program wallets.”
Workaround for ASI migration
Crypto exchanges and knowledge aggregators that want to help the migration can accomplish that by the not too long ago launched SingularityDAO DApp migration platform.
In response to the web site, in part 1, AGIX tokens will convert to FET with a conversion price of 1 AGIX to 0.43335 FET.
In part 2, FET tokens will likely be transferred to ASI and launched on a number of blockchains.
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On June 20, the buying and selling worth of FET and AGIX tokens elevated by greater than 30% after a three-month downtrend.
In response to Vlad Balaban, co-founder of GT Protocol, a blockchain-based synthetic intelligence execution protocol, the hype surrounding the ASI token merger catalyzed the markets.
“The expansion of greater than 30% is expounded to the introduced merger with Ocean Protocol, the aim of which is to kind the most important decentralized synthetic intelligence ecosystem. This strategic transfer has excited buyers who foresee vital progress and market management within the discipline of synthetic intelligence applied sciences,” he stated.
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