Fumbi Is Monitoring FET & AGIX & OCEAN Token Merge

Fumbi is actively monitoring the planned token merge of the Ocean Protocol (OCEAN) and SingularityNET (AGIX) to Fetch.ai (FET) and will handle all technical requirements for users who are involved in this event.

Details:

Token Fetch.ai (FET) will now represent the newly formed Artificial Superintelligence Alliance (ASI). The AGIX and OCEAN tokens will be merged into the FET token as part of an ongoing update. FET token holders in Fumbi will hold the same amount of FET tokens as before the merge. AGIX & OCEAN token holders will have their tokens converted to the FET token.

OCEAN and AGIX tokens will be converted to FET token at the following rate:

• 1 OCEAN = 0.433226 FET
• 1 AGIX = 0.433350 FET

Example: if you previously owned 100 FET, 200 AGIX and 300 OCEAN in Fumbi, your token redistribution will look like this:

• 100 FET = 100 FET
• 200 AGIX = 86.87 FET
• 300 OCEAN = 129.9678 FET

In total, you will own 316.8378 FET tokens when the merge is complete. Fumbi will also handle all technicalities related to the merger and redistribution of tokens among our users.

Once the merger is complete, the SingularityNET (AGIX) and Ocean Protocol (OCEAN) will be delisted from our platform. Buying and selling of AGIX & OCEAN  will be suspended in Fumbi on Friday, June 28 from 6:00 pm. Deposits and withdrawals of FET will not be affected. For this reason, we recommend you to execute all transactions related to buying and selling AGIX & OCEAN before this date.

Adjusting Our AI Template

On Friday, June 28, 2024, at 6:00 pm, trading of the SingularityNET (AGIX) and Ocean Protocol (OCEAN) will be suspended, as well as temporarily restricted from investing in our investment template called AI Portfolio, which is available in the Advanced Portfolios product.

In addition, there will be a modification to our AI investment template in early July (the exact time to be specified in a separate blog post) related to the delisting of the AGIX and OCEAN tokens. The new template will look like the following:

• Render (RNDR) – 40 %
• Fetch.ai (FET) – 25 % 
• The Graph (GRT) – 25 % 
• Bittensor (TAO) – 10 %

The merging of the AGIX & OCEAN tokens into Fetch.ai (FET) is the first phase of the creation of a new alliance called the Artificial Superintelligence Alliance (ASI). We will keep you updated on further changes in separate blogs.

More information about the upcoming token merge as well as the formation of the new Artificial Superintelligence Alliance (ASI) can be found at this link.