As a researcher with a background in blockchain technology and experience in cryptocurrency trading, I have closely monitored the recent developments between SingularityNet, Fetch.ai, Ocean Protocol, and their upcoming Artificial Superintelligence Alliance (ASI) token merger.
As a researcher studying the latest developments in the cryptocurrency market, I’ve come across some interesting news regarding Coinbase’s decision not to support the migration of SinguityNet, Fetch.ai, and Ocean protocol AI tokens to the new Artificial Superintelligence Alliance (ASI) token. This means that users holding these specific tokens on Coinbase will not be able to participate in the token swaps planned for this upcoming alliance. It’s essential to keep an eye on such updates as they can significantly impact investors and traders in the cryptocurrency space.
OCEAN and FET have declared their intention to merge and create the Artificial Superintelligence Alliance (ASI) instead. Users of Coinbase should note that the exchange will not be facilitating the transfer of these assets on their behalf.— Coinbase Assets 🛡️ (@CoinbaseAssets) June 26, 2024
During this transition, Ocean (OCEAN) and Fetch.ai (FET) tokens will come together in July to introduce ASI tokens. Initially, OCEAN tokens will be converted into FET on July 1. Subsequently, FET tokens will merge into ASI towards the end of July.
In this migration, there is a substantial $7.5 billion token consolidation taking place among the AI-focused platforms SingularityNet, Fetch.ai, and Ocean Protocol.
Crypto services that offer this feature will instantly transform users’ token inventories on the designated date. Nevertheless, Coinbase has chosen not to carry out this transition for their clients, stating, “Coinbase will not perform the transfer of these assets for users.”
Despite opting out of the upcoming ASI token merger, Coinbase users can continue trading FET and OCEAN as normal. For those looking to migrate their tokens, Coinbase recommends utilizing a self-custodial wallet like Coinbase Wallet. Notably, the ASI token merge is interoperable with major software wallets, enabling users to make the transition independently.
In March, Fetch.ai initially announced that users could exchange their FET tokens for an equal number of ASI tokens at a 1:1 ratio following the merger. This conversion was promised to be a straightforward process with no extra steps needed on the users’ part.
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2024-06-27 19:16