Coinbase mentioned it will not facilitate the migration of two property associated to the Synthetic Superintelligence Alliance (ASI) token merger in a June 26 assertion.
As a substitute of executing migrations for Ocean Protocol (OCEAN) and Fetch.ai (FET) on behalf of customers, the alternate plans to proceed supporting buying and selling for every asset till additional discover.
Coinbase mentioned it is going to enable customers to carry out migrations by means of their self-custodial wallets, together with however not restricted to Coinbase Pockets. Coinbase mentioned the token merger would help “all main software program wallets.”
Coinbase doesn’t help buying and selling of SingularityNET (AGIX), a 3rd token that can merge with OCEAN and FET in July. It didn’t touch upon AGIX in its newest assertion.
Different exchanges declare help
Fetch.ai has described broader plans for exchanges to help the merger. Beginning July 1, cooperating exchanges will shut AGIX and OCEAN deposits and withdrawals whereas permitting FET deposits, withdrawals, and buying and selling to proceed. Exchanges will ultimately delist AGIX and OCEAN.
The ASI token will launch in mid-July. Customers will be capable to convert tokens they maintain in self-custody. Lastly, exchanges will migrate spot markets from FET to ASI.
A number of exchanges are roughly following the timeline. Bitfinex mentioned it is going to halt the supply of affected tokens it presently helps on July 2. HTX, Bitget, Binance, and KuCoin have described plans to halt availability beginning on July 1. Crypto.com will halt availability on June 28.
The above exchanges — excluding KuCoin — have already introduced plans to mechanically merge the three tokens for customers however didn’t present a precise date.
Merger to problem Large Tech
The token merger and the creation of the Superintelligence Alliance symbolize coordination between three main crypto tasks targeted on the AI sector.
The merger goals to advertise the expansion of decentralized AI infrastructure, specializing in AGI and superintelligence whereas difficult Large Tech’s dominance over the sector. Moreover, the technique is predicted to place the ASI token as the most important decentralized AI token by market cap.
The three current tokens presently have a mixed cap of $5.8 billion.