Attention all crypto enthusiasts! Binance, one of the leading cryptocurrency exchanges, is making waves in the digital asset world with its support for an exciting token merge event involving Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX). These tokens will soon merge into a single entity called Artificial Superintelligence (ASI), as per Binance’s recent official announcement.
Key Updates
Mark your calendars for July 1, 2024 – the date when Binance will temporarily halt deposits and withdrawals for FET, OCEAN, and AGIX. To avoid any inconvenience, ensure all your token transactions are completed before this deadline. Rest assured, Binance will take care of all technical aspects related to the token merge process.
Insights into the Merge
Once the merge is finalized, the new ASI token will be available for trading on Binance, with the following conversion rates:
- 1 FET = 1 ASI
- 1 OCEAN = 0.433226 ASI
- 1 AGIX = 0.433350 ASI
Spot trading for FET, OCEAN, and AGIX will cease at 03:00 (UTC) on July 1, 2024, only to be replaced by ASI trading pairs starting from July 5, 2024, at 08:00 (UTC).
Impact on Binance Services
Futures
Binance Futures will settle all positions for FETUSDT, OCEANUSDT, and AGIXUSDT USDⓈ-M Perpetual Contracts at 09:00 (UTC) on June 25, 2024. Make sure to close any open positions beforehand to prevent automatic settlement.
Margin
Binance Margin will delist margin pairs for AGIX, FET, and OCEAN at 06:00 (UTC) on June 26, 2024. Prior to this, users must close their positions and transfer assets to the Spot Wallet.
Loans
Binance Loans will settle outstanding loan positions for FET, OCEAN, and AGIX at 03:00 (UTC) on June 25, 2024. Repay any pending loans before this cutoff to prevent losses.
Earn
Binance Simple Earn will end support for FET, OCEAN, and AGIX products from 03:00 (UTC) on June 28, 2024. Existing subscriptions will be redeemed and credited to Spot Wallets automatically.
Additional Services
Binance Pay, Gift Card, Convert, Auto-Invest, and Buy Crypto services will also undergo changes, including delistings and suspensions between June 18 and July 1, 2024.
For comprehensive details on the token merge and its implications for various Binance services, refer to the official Binance announcement provided for users’ convenience.
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