Ocean Protocol

SingularityNET

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Artificial Superintelligence Alliance

<ul> 
 <li>Humayun Sheikh confirms the FET, Agix, and Ocean merger, introducing the ASI token despite Coinbase’s lack of support.</li> 
 <li>Binance, Bitget, and Bitfinex support the ASI token merger, while Coinbase will allow FET and Ocean trading until further notice.</li> 
 <li>The merger will distribute 2.631 billion ASI tokens, with fixed allocations to FET, Agix, and Ocean holders, starting July 1.</li> 
</ul> 
<p><a href="http://fetch.ai" target="_blank" rel="noreferrer noopener">Fetch.ai (FET)</a> founder Humayun Sheikh reassured users concerned by <a href="https://cryptonewsland.com/coinbase-challenges-sec-with-lawsuit-on-crypto-regulation/" target="_blank" rel="noreferrer noopener">Coinbase’s decision</a> to not support the planned merger with SingularityNET (Agix) and Ocean Protocol (Ocean). Despite this setback, Sheikh emphasised that the merger will proceed as scheduled. He stated that “all exchanges have their reasons and methods” and confirmed the merger’s first phase will start on July 1.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> is ASI. <a href="https://twitter.com/search?q=%24ocean&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ocean</a> and <a href="https://twitter.com/search?q=%24agix&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$agix</a> are merging into <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a>. CEXs don’t need to delist or relist <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> it is there already. If you hold <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> do nothing. We are working hard to resolve any issues please bear with us. Timeline has not changed. <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a> has only announced that the swap will…</p>— Humayun (@HMsheikh4) <a href="https://twitter.com/HMsheikh4/status/1806402352120807831?ref_src=twsrc%5Etfw">June 27, 2024</a>
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<h3 class="wp-block-heading" id="h-merger-details-and-coinbase-s-decision"><strong>Merger Details and Coinbase’s Decision</strong></h3> 
<p>The merger involves creating a new token called ‘<a href="https://libraries.usc.edu/events/artificial-superintelligence#:~:text=floor%20(LVL%20301)-,Artificial%20superintelligence%20(ASI)%20refers%20to%20a%20hypothetical%20form%20of%20AI,human%20minds%20in%20every%20domain." target="_blank" rel="noreferrer noopener">Artificial Superintelligence</a>’ (ASI). This token will replace FET, Agix, and Ocean. Consequently, the merger will occur in phases, with the first phase commencing on July 1. <a href="https://x.com/CoinbaseAssets/status/1806058199948140855" target="_blank" rel="noreferrer noopener">Coinbase announced on X (Twitter)</a> that it would not support this migration. However, the exchange clarified that it would allow trading of FET and Ocean tokens until further notice. Users must use a self-custodial wallet to migrate their tokens to ASI.</p> 
<h3 class="wp-block-heading" id="h-token-swap-and-exchange-support"><strong>Token Swap and Exchange Support</strong></h3> 
<p>Sheikh responded on X, stating centralised exchanges like Coinbase do not need to delist or relist FET tokens. He assured holders that FET tokens would remain in circulation throughout and after the merger. He advised FET holders “to do nothing” with their tokens for now. Sheikh asked users to bear with the company as they work through any issues.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> is ASI. <a href="https://twitter.com/search?q=%24ocean&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ocean</a> and <a href="https://twitter.com/search?q=%24agix&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$agix</a> are merging into <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a>. CEXs don’t need to delist or relist <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> it is there already. If you hold <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$fet</a> do nothing. We are working hard to resolve any issues please bear with us. Timeline has not changed. <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a> has only announced that the swap will…</p>— Humayun (@HMsheikh4) <a href="https://twitter.com/HMsheikh4/status/1806402352120807831?ref_src=twsrc%5Etfw">June 27, 2024</a>
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<p>Under the merger’s terms, FET will function as the base currency of the Alliance. Consequently, 2.631 billion ASI tokens will be distributed, replacing FET, Agix, and Ocean tokens. FET can be swapped one-to-one into ASI. For example, 100 FET tokens will be converted to 100 ASI tokens. Additionally, 867 million ASI tokens will be allocated to Agix holders and 611 million to Ocean holders at fixed rates.</p> 
<p>Several exchanges, including Binance, Bitget, and Bitfinex, have signalled support for the merger. As of writing, FET dropped 8.6% to <a href="https://coinmarketcap.com/dexscan/ethereum/0x948b54a93f5ad1df6b8bff6dc249d99ca2eca052/" target="_blank" rel="noreferrer noopener">$1.41</a>, Agix fell 7.8% to <a href="https://coinmarketcap.com/currencies/singularitynet/" target="_blank" rel="noreferrer noopener">$0.59</a>, and Ocean decreased 7.4% to <a href="https://coinmarketcap.com/currencies/ocean-protocol/" target="_blank" rel="noreferrer noopener">$0.60</a>, according to Coinmarket cap.</p> 
<h3 class="wp-block-heading" id="strong-future-potential-and-industry-impact-strong"><strong>Future Potential and Industry Impact</strong></h3> 
<p>The merger aims to integrate <a href="https://cryptonewsland.com/caduceus-blockchain-announces-incubator-program-m4tter/" target="_blank" rel="noreferrer noopener">decentralised AI firms</a> into a unified alliance. Despite Coinbase’s stance, the process is gaining support from other exchanges. This merger is expected to revolutionise the decentralised AI industry by creating a robust and unified token ecosystem. The support from Binance, Bitget, and Bitfinex indicates confidence in the merger’s success and future potential.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/what-does-the-monumental-asi-merge-mean-for-ocean-fet-and-agix/">What Does the Monumental ASI Merge Mean for OCEAN, FET, and AGIX?</a></li>
 <li><a href="https://cryptonewsland.com/singularitynet-agix-and-fetch-ai-fet-seek-room-for-higher-gains-but-investors-target-higher-profit-margin-on-algotech-algt-presale/">SingularityNET (AGIX) And Fetch.ai (FET) Seek Room For Higher Gains, But Investors Target Higher Profit Margin On Algotech (ALGT) Presale</a></li>
 <li><a href="https://cryptonewsland.com/coinbase-declines-support-for-7-5b-ai-token-merger-by-artificial-superintelligence-alliance-asi/">Coinbase Declines Support for $7.5B AI Token Merger by Artificial Superintelligence Alliance (ASI)</a></li>
 <li><a href="https://cryptonewsland.com/bears-uphold-as-boe-doubles-its-temporary-qe-bonds/">Bears Uphold as BOE Doubles its Temporary QE Bonds</a></li>
 <li><a href="https://cryptonewsland.com/fet-ai-crypto-altcoin-surges-ahead-of-merger-can-fetch-ai-rally-to-the-1-95-2-55-range/">FET AI Crypto Altcoin Surges Ahead Of Merger: Can Fetch.ai Rally to the $1.95 – $2.55 Range?</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/fetch-ai-founder-reassures-users-amid-merger-with-singularitynet-and-ocean-protocol/">Fetch.ai Founder Reassures Users Amid Merger with SingularityNET and Ocean Protocol</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Fetch.ai Founder Reassures Users Amid Merger with SingularityNET and Ocean Protocol

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