Announcements Gate.io Supports Ocean (OCEAN) and SingularityNET (AGIX) Merger to Fetch.ai (FET) and Facilitates Rebranding

Gate.io Supports Ocean (OCEAN) and SingularityNET (AGIX) Merger to Fetch.ai (FET) and Facilitates Rebranding

2024-06-24 11:18:42 UTC 38005 Read

[//]:content-type-MARKDOWN-DONOT-DELETE
According to the Fetch.ai (FET) project team, the Ocean (OCEAN) and SingularityNET (AGIX) tokens will merge into the new Fetch.ai (FET) token. Gate.io will support this merger plan and provide seamless token swap services for users. Additionally, Fetch.ai (FET) will be rebranded to Artificial Superintelligence Alliance (FET). Gate.io users holding these tokens do not need to take any specific actions.

Swap Ratio:
1 OCEAN = 0.433226 FET
1 AGIX = 0.433350 FET

**Details:**
1) Gate.io will disable new margin borrowing and crypto loan services for $OCEAN and $AGIX before June 28, 2024, 03:00 A.M. UTC. 
2) Users who have ongoing trades in the futures trading market are encouraged to adjust your strategies in advance. From June 29, 2024, 08:00 A.M. UTC, the OCEAN/USDT and AGIX/USDT futures trading markets will switch to a "Reduce-only" mode.
3) On June 30, 2024, 08:00 A.M. UTC, Gate.io will automatically settle open positions at the average index price in the half-hour before the futures trading stops. Any outstanding orders will be canceled automatically. Users with open positions in the futures market should adjust your strategies and close positions before June 30, 2024, 08:00 A.M. UTC to avoid automatic settlement.
4) Starting from July 1, 2024, 06:00 A.M. UTC, Gate.io will suspend the deposit, withdrawal, and trading services for $OCEAN and $AGIX, including spot trading, quant grid trading, Simple Earn, and margin trading.
5) Users who have ongoing $OCEAN and $AGIX quant grid trading should adjust your trading strategies beforehand. Otherwise, the trades will be terminated automatically before July 1, 2024, 06:00 A.M. UTC
6) Users who have $OCEAN and $AGIX assets in Simple Earn may manually redeem them in advance. Otherwise the assets will be liquidated before July 1, 2024, 06:00 A.M. UTC.
7) Users who have outstanding $OCEAN and $AGIX loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before July 1, 2024, 06:00 A.M. UTC.

Please note that after the merger, the FET market may experience significant volatility. Users are advised to be cautious of risks and operate prudently. It is important to note that Gate.io will no longer support $OCEAN and $AGIX tokens. Users wishing to participate in this token merger and rebranding should deposit before the service suspends.

Deposit $OCEAN: https://www.gate.io/myaccount/deposit/OCEAN
Trade $AGIX：https://www.gate.io/myaccount/deposit/AGIX

Official Source: https://x.com/ASI_Alliance/status/1808069459308863586

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Gate.io Team
June 24th, 2024

Gate.io Supports Ocean (OCEAN) and SingularityNET (AGIX) Merger to Fetch.ai (FET) and Facilitates Rebranding

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