Binance to Support Token Merge for Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX)

Binance,
a
leading
cryptocurrency
exchange,
has
announced
its
support
for
the
upcoming
token
merge
involving
Fetch.ai
(FET),
Ocean
Protocol
(OCEAN),
and
SingularityNET
(AGIX).
These
tokens
will
be
merged
into
a
single
token
known
as
Artificial
Superintelligence
(ASI),
according
to
the
official
announcement
from

Binance.

General
Information

Starting
from
July
1,
2024,
at
03:30
(UTC),
Binance
will
suspend
deposits
and
withdrawals
for
Fetch.ai
(FET),
Ocean
Protocol
(OCEAN),
and
SingularityNET
(AGIX).
Users
are
advised
to
ensure
their
deposits
for
these
tokens
are
fully
processed
before
this
time.
Binance
will
handle
all
technical
requirements
for
users
involved
in
the
token
merge
event.

Merge
Details

Once
the
merge
is
complete,
the
new
ASI
token
will
be
listed
on
Binance
with
the
following
conversion
ratios:

• 1
  FET
  =
  1
  ASI
• 1
  OCEAN
  =
  0.433226
  ASI
• 1
  AGIX
  =
  0.433350
  ASI

Binance
will
delist
and
cease
trading
on
all
spot
trading
pairs
for
FET,
OCEAN,
and
AGIX
at
03:00
(UTC)
on
July
1,
2024.
The
new
ASI
spot
trading
pairs
will
be
available
starting
from
July
5,
2024,
at
08:00
(UTC).

Impact
on
Other
Binance
Services

Futures

Binance
Futures
will
close
all
positions
and
conduct
an
automatic
settlement
on
the
FETUSDT,
OCEANUSDT,
and
AGIXUSDT
USDⓈ-M
Perpetual
Contracts
at
09:00
(UTC)
on
June
25,
2024.
Users
are
advised
to
close
any
open
positions
before
this
time
to
avoid
automatic
settlement.

Margin

Binance
Margin
will
delist
the
cross
and
isolated
margin
pairs
for
AGIX,
FET,
and
OCEAN
at
06:00
(UTC)
on
June
26,
2024.
Users
are
advised
to
close
their
positions
and
transfer
their
assets
from
Margin
Wallet
to
Spot
Wallet
before
this
time.

Loans

Binance
Loans
will
close
all
outstanding
loan
positions
for
FET,
OCEAN,
and
AGIX
at
03:00
(UTC)
on
June
25,
2024.
Users
are
advised
to
repay
their
outstanding
loans
before
this
time
to
avoid
potential
losses.

Earn

Binance
Simple
Earn
will
cease
support
for
FET,
OCEAN,
and
AGIX
Simple
Earn
Flexible
and
Locked
Products
from
03:00
(UTC)
on
June
28,
2024.
Existing
subscriptions
will
be
automatically
redeemed
and
credited
to
users’
Spot
Wallets.

Other
Services

Binance
Pay,
Gift
Card,
Convert,
Auto-Invest,
and
Buy
Crypto
services
will
also
be
affected,
with
delistings
and
suspensions
occurring
between
June
18
and
July
1,
2024.

For
more
detailed
information
on
the
token
merge
and
its
impact
on
various
Binance
services,
users
can
refer
to
the
official

Binance
announcement.

Image
source:
Shutterstock