As the date of July 1, 2024 approaches, Fetch.ai, together with the Artificial Super Intelligence (ASI) Alliance, warns users about the risks of fraud during the token smelting process. This significant event in the cryptocurrency space aims to consolidate three existing tokens – SingularityNET’s AGIX, Ocean Protocol’s OCEAN and Fetch.ai’s own FET – into a single new token called ASI.
The first phase of this migration will take place on the Ethereum blockchain, where the three tokens will merge. Token holders on other blockchains will be directed to bridge their tokens to Ethereum to participate in this initial phase. For those who prefer to wait for support on other chains such as Cardano or Polygon, phase 2 will be more suitable.
During this transition period, Fetch.ai will also adopt the new name Artificial Super Intelligence Alliance on major trading platforms. Trading of the FET token, under the new ticker ASI, will continue uninterrupted.
From July 1st, project names and logos will be updated and deposits and withdrawals of AGIX and OCEAN tokens will cease, with the SingularityDAO migration platform facilitating the conversion of these to FET. It is important to highlight that token holders on centralized exchanges, such as Binance, will not need to take any action, as the conversion to FET will occur automatically in the appropriate proportion.
⚠️Scam warning: Be cautious of impersonation scams, fake links and fake social media accounts. Verify information from official sources for a secure transition. For more important details explore the complete token migration guide: https://t.co/ORyi4ywi9p
— Fetch.ai (@Fetch_ai) June 26, 2024
In the second phase, the community will be further integrated, with a special focus on those who choose to self-custody their funds. At this stage, in addition to the deployment of the ASI token on different blockchains, new migration contracts will be introduced for the conversion of FET, AGIX and OCEAN to ASI.
Fetch.ai emphasizes that at no point will it be necessary to reveal sensitive personal information, such as seed phrases. The community must remain vigilant for fraud attempts, including impersonation and social engineering, and trust only official sources of information.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/fusao-de-tokens-asi-em-1o-de-julho-de-2024-tudo-o-que-voce-precisa-saber/
