Coinbase recently made a statement declaring that it will not be facilitating the merger between Ocean Protocol (OCEAN) and Fetch.ai (FET) related to the Artificial Superintelligence Alliance (ASI) token merger. Instead, Coinbase plans to continue supporting trading for both tokens until further notice. This decision means that users will need to perform the migration themselves through self-custodial wallets, such as Coinbase Wallet.
It is important to note that Coinbase will not be supporting the trading of SingularityNET (AGIX), the third token involved in the merger. The exchange did not provide any comments on AGIX in its latest statement. However, other exchanges have declared their support for the merger.
Fetch.ai has outlined its plans for the merger, stating that cooperating exchanges will cease AGIX and OCEAN deposits and withdrawals starting July 1. They will continue to allow FET deposits, withdrawals, and trading. Eventually, exchanges will delist AGIX and OCEAN in favor of the new ASI token, which is set to launch in mid-July. Users will have the ability to convert their tokens held in self-custody, and spot markets will be migrated from FET to ASI.
Several exchanges, including Bitfinex, HTX, Bitget, Binance, and KuCoin, have announced their plans to support the merger. Bitfinex will stop supporting affected tokens on July 2, while other exchanges will begin halting availability on July 1. Crypto.com is set to halt availability on June 28. Most of these exchanges have committed to automatically merging the three tokens for their users, although specific dates have not been provided.
The merger of these tokens and the establishment of the Superintelligence Alliance signify a collaboration between three major crypto projects in the AI sector. The goal is to advance decentralized AI infrastructure, particularly in the areas of AGI and superintelligence, in a bid to challenge the dominance of Big Tech companies in the sector. This strategic move is anticipated to position the ASI token as the largest decentralized AI token by market cap, considering that the three tokens currently have a combined market cap of $5.8 billion.