- ASI token merger of three AI protocols, Fetch.ai, SingularityNet and Ocean Protocol is scheduled to occur on July 15.
- Binance is set to start ASI token trading on July 5, ahead of the scheduled merger.
- FET, AGIX and OCEAN wiped out nearly 16% of their value in the past seven days.
The Artificial Superintelligence Alliance revised the date for the ASI token merger, and moved it from June 13 to July 15. The three protocols’ tokens will continue to trade independently prior to the ASI token launch.
FET, AGIX and OCEAN prices are down nearly 16% in the past seven days, with less than 1% decline in the past 24 hours on Binance.
The centralized exchange platform has plans to open ASI token trade prior to its merger, on July 5.
ASI token merger scheduled for July 15
The Artificial Superintelligence alliance has scheduled its ASI token launch for July 15. Owing to the logistical requirements and technical dependencies of exchanges, validators, and broader ecosystem collaborators, the date was moved.
The alliance told FXStreet in an email that the preparation phase for the merger involves managing complex integrations, careful coordination, and attention to numerous moving parts. The dependencies are critical to a smooth merger process and the decision to delay ASI launch was to ensure adherence to the highest standards of accuracy and efficiency.
One of the largest centralized exchange platforms, Binance, announced plans to begin ASI token trading on July 5, ahead of the scheduled merger. The exchange will suspend deposits and withdrawals for the three tokens, FET, AGIX and OCEAN by July 1 and the trading pairs will be delisted, orders removed.
The conversion rate for the three tokens to ASI is predetermined:
1 FET will be equivalent to 1 ASI.
1 OCEAN will convert to 0.433226 ASI.
1 AGIX will convert to 0.433350 ASI.
At the time of writing, the three AI tokens have extended their losses by over 16% in the past seven days on Binance. FET is trading at $1.453, OCEAN at $0.6283 and AGIX at $0.6177.
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