For those who weren’t able to catch the recent June Rake Review (our monthly wrap up), a crucial section covered the upcoming merge of AI crypto tokens into ASI. Three of the largest AI tokens within the sector are merging into one and creating $ASI (Artificial SuperIntelligence Alliance), which could be the AI token powerhouse of the crypto ecosystem.
Phase 1 of the Merge:
As of July 1, OCEAN and AGIX tokens will merge to be converted into $FET, in due time OCEAN and AGIX will cease to trade.
If your tokens are held on exchange and said exchange is offering to support the merge then they will be automatically converted. However, if the exchange is not supporting the merge, then your held tokens will not be converted and they will stay in the original token form.
Phase 1 has begun, with many exchanges already converting OCEAN and AGIX into FET and delisting OCEAN and AGIX from their platforms. If held in self-custody, then you will need to swap your tokens manually.
Self-custody holders of OCEAN and AGIX, the platform to swap the tokens into FET can be found here: https://singularitydao.ai/migrate-asi
Those who custody with us:
Those who custody with us:
You would have received a trade confirmation email regarding the conversion of your AGIX/OCEAN tokens into FET.
As per our token merger policy, we have converted AGIX and OCEAN tokens into FET free of charge, and we have resumed custody of your newly received FET tokens. If you wish to dispose of your new FET tokens, please contact us. Otherwise we will convert those into ASI when available.
For Those Looking to Buy FET or ASI
For those who are interested in taking advantage of the merge and seek to purchase FET or ASI. FET remains purchasable whilst phase 1 is active and will be converted into ASI mid-late July. Thus meaning, ASI will begin trading once phase 2 begins.
If you seek to purchase ASI, there are currently two options:
Purchase FET and custody with us to have it automatically converted into ASI
or
Wait until the merge has been completed and then purchase ASI when trading begins.
Send an email to trade@stormrake.com to secure a FET or ASI purchase...
What's Next?
Once phase 1 is complete, phase 2 will begin mid-late July with FET tokens being converted into ASI. For those who custody with us, you will not be required to take any action as the tokens will be converted automatically.
Written by Alexandar Artis
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