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Binance Will Support FET, OCEAN and AGIX Token Merger

Binance

Binance Will Support Fetch.ai (FET), Ocean Protocol (OCEAN) and SingularityNET (AGIX) Token Merger

 

Binance is launching the conversion of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) tokens to its Artificial Super Intelligence (ASI) token, starting July 1, 2024. As of this date, deposits and withdrawals of these tokens will be stopped. Binance will carry out token exchanges on behalf of users, and new spot trading pairs such as ASI / BNB, ASI / BTC will become active on July 5, 2024.

Binance’s statement as it follows:

“Fellow Binancians,

Binance will support the Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) token merge to Artificial Superintelligence (ASI).

Deposits and Withdrawals

At 2024-07-01 03:30 (UTC), deposits and withdrawals of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) will be suspended. Please ensure that you leave sufficient time for your FET, OCEAN, and AGIX deposits to be fully processed prior to this time. 

Binance will make a separate announcement after the event is completed to notify users when deposits and withdrawals of ASI will be opened.

After the event is complete, deposits and withdrawals of FET, OCEAN, and AGIX tokens will no longer be supported.

Binance will handle all technical requirements for users who are involved in this event.

Users may refer to the announcement from the project team for more information.

Merge Details

FET, OCEAN, and AGIX tokens will assume the ticker of ASI at Binance.

All FET, OCEAN, and AGIX tokens will be swapped to ASI at a ratio of:

1 FET = 1 ASI;

1 OCEAN = 0.433226 ASI;

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1 AGIX = 0.433350 ASI.

Spot

At 2024-07-01 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for FET, OCEAN, and AGIX. 

The exact trading pairs being removed are: AGIX/BTC, AGIX/FDUSD, AGIX/TRY, AGIX/USDT, FET/BNB, FET/BTC, FET/BRL, FET/FDUSD, FET/TRY, FET/USDC, FET/USDT, OCEAN/BNB, OCEAN/BTC, OCEAN/TRY, OCEAN/USDT.

All trade orders will be automatically removed after trading ceases in each respective trading pair.

Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-07-01 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.

At 2024-07-05 08:00 (UTC), trading will open for the ASI/BNB, ASI/BTC, ASI/BRL, ASI/FDUSD, ASI/TRY, ASI/USDC, and ASI/USDT spot trading pairs. 

Futures

Binance Futures will close all positions and conduct an automatic settlement on the FETUSDT, OCEANUSDT, and AGIXUSDT USDⓈ-M Perpetual Contracts at 2024-06-25 09:00 (UTC). The contracts will be delisted after the settlement is complete. Users are advised to close any open positions prior to the delisting time to avoid automatic settlement. Users are not allowed to open new positions for the aforementioned contract starting from 2024-06-25 08:30 (UTC). In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the FETUSDT, OCEANUSDT, and AGIXUSDT USDⓈ-M Perpetual Contracts without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. A separate announcement will be made for relisting.

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At 2024-06-25 09:00 (UTC), Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the FETUSDT, OCEANUSDT, and AGIXUSDT symbols.  

Margin

Binance Margin will delist the AGIX/BTC, AGIX/USDT, FET/BTC, FET/USDT, OCEAN/BTC, and OCEAN/USDT cross margin and isolated margin pair(s) at 2024-06-26 06:00 (UTC).

At 2024-06-21 06:00 (UTC), Binance Margin will suspend isolated margin borrowing on the aforementioned isolated margin pairs.

At 2024-06-26 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Binance Margin. 

Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallet to Spot Wallet prior to the cessation of margin trading at 2024-06-26 06:00 (UTC). Binance will not be responsible for any potential losses.

Portfolio Margin users are advised to transfer the token(s) mentioned above out of their Margin Wallet to their Spot Wallet and to top up their margin balance before 2024-06-26 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the token(s) mentioned above from the Margin Wallet. 

All FET, OCEAN, and AGIX balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-06-26 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information. 

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A separate announcement will be made for relisting.”


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