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.
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