The cryptocurrency exchange giant Binance announced its support for the merger of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) into a new altcoin named Artificial Superintelligence (ASI). This process will occur in several key steps and timelines to ensure a smooth transition for users holding these altcoins.
Deposits and Withdrawals for FET, OCEAN, and AGIX Will Be Suspended
Binance will suspend deposits and withdrawals for FET, OCEAN, and AGIX starting from 06:30 AM (UTC) on July 1, 2024. The cryptocurrency exchange advised users to complete their deposit transactions before this time. Furthermore, Binance will notify users when deposits and withdrawals for the new ASI coin will be available after the merger.
After the merger, deposits and withdrawals for FET, OCEAN, and AGIX will no longer be supported. Binance will handle all technical requirements on behalf of users.
Conversion Rates for FET, OCEAN, and AGIX
The merger will result in the conversion of FET, OCEAN, and AGIX coins into ASI coins at the following rates:
- 1 FET = 1 ASI
- 1 OCEAN = 0.433226 ASI
- 1 AGIX = 0.433350 ASI
These conversions will be reflected in users’ accounts once the merger is complete.
Additionally, Binance will delist and halt trading for all spot trading pairs involving FET, OCEAN, and AGIX, including AGIX/BTC, FET/USDT, and OCEAN/BNB, starting from 06:00 AM (UTC) on July 1, 2024. Users are advised to update or cancel their trading bot strategies before this time to prevent potential losses. Trading for new pairs such as ASI/BNB, ASI/BTC, and ASI/USDT will commence at 11:00 AM (UTC) on July 5, 2024.
Binance’s futures trading arm, Binance Futures, will close all positions and perform automatic settlement for FETUSDT, OCEANUSDT, and AGIXUSDT contracts at 12:00 PM (UTC) on June 25, 2024. Users should close their positions before this date to avoid automatic settlement. Additionally, margin trading for AGIX/BTC, FET/USDT, and OCEAN/BTC pairs will end at 09:00 AM (UTC) on June 26, 2024, and isolated margin borrowing will be suspended from 09:00 AM (UTC) on June 21, 2024.
