Despite Coinbase’s decision, users can still migrate their AI tokens using self-custodial wallets to participate in the $7.5 billion merger.
Coinbase has decided not to support the upcoming migration of the Artificial Superintelligence Alliance (ASI) tokens for its users. This migration is part of a significant $7.5 billion merger involving AI protocols SingularityNet, Fetch.ai, and Ocean Protocol.
AI Token Merger Details
The AI tokens Ocean (OCEAN) and Fetch.ai (FET) are set to merge in July, leading to the creation of ASI tokens. Initially, OCEAN tokens will be converted to FET tokens on July 1. Later in the month, these FET tokens will be merged into ASI tokens.
Support from Other Providers
Other crypto service providers will automatically convert users’ token holdings on the specified date. However, Coinbase has opted out of this automatic migration. Coinbase stated, “Coinbase will not execute the migration of these assets on behalf of users.”
Workaround for Users
Coinbase will continue to allow trading of FET and OCEAN tokens as usual until further notice. For users wanting to participate in the migration, Coinbase has provided a workaround:
“Once the migration has launched, users will be able to migrate their OCEAN and FET to ASI using a self-custodial wallet, such as Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.”
Summary Review: While Coinbase has chosen not to support the ASI token migration directly, users can still take part in the merger by using self-custodial wallets to manage their token conversions.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
