Coinbase won't handle OCEAN, FET, and AGIX token merger
The American digital currency platform Coinbase has declared its intention to abstain from participating in the upcoming transition event for the tokens associated with the Artificial Superintelligence Alliance (ASI). This denotes that customers of Coinbase will have to navigate the complexities of this eagerly awaited token consolidation independently.
The Artificial Superintelligence disclosed in April their plan to amalgamate their respective digital currencies—OCEAN, FET, and AGIX. Although the Alliance conveyed that opportunities for token exchange would be available, Coinbase has now specified its non-participation in this process.
Regarding the ASI token transition, Coinbase will not undertake the token migration on behalf of its clientele. However, clients are empowered to transition their OCEAN and FET into ASI by utilizing the Coinbase Prime Web3 wallet or any other Ethereum-compatible self-custodial wallet.
In relation to its trading operations, Coinbase revealed that it will continue to facilitate trading for FET and OCEAN until further notification. Given the merger will result in the integration of OCEAN and AGIX tokens into FET, the methodology by which Coinbase intends to sustain trading for the newly branded FET token remains uncertain, especially since it will not partake in the migration on its exchange.
The original date set for this merger was June 13, before being deferred by the Artificial Superintelligence Alliance.
Eventually, FET is poised to emerge as the definitive token representing ASI as OCEAN and AGIX are gradually eliminated.
The Artificial Superintelligence Alliance stated that not every exchange might join the initiative immediately, but they will get incorporated as we advance to Phase 2 of the migration.
