The crypto landscape is evolving rapidly, and staying ahead of token upgrades and migrations is essential for investors. In line with this progress, OKX will support the official migration of the AGIX token to FET, marking a significant development for holders of SingularityNET’s native asset. This migration is part of a broader consolidation within the Artificial Intelligence (AI) blockchain ecosystem, bringing together AGIX, FET, and ASI into a unified future.
This article provides a comprehensive overview of the AGIX-to-FET token migration process on OKX, including key dates, eligibility criteria, technical details, and what users need to do to ensure a smooth transition. Whether you're a long-term AGIX holder or actively trade AI-related digital assets, understanding this migration is crucial for preserving your investment value.
Key Migration Timeline and Process
To ensure system stability and accurate snapshot execution, OKX has outlined a clear timeline for the AGIX token migration:
- July 1, 2024, 08:00 UTC: All open trading orders for AGIX will be automatically canceled. Spot trading pairs AGIX/USDT and AGIX/USDC will be suspended.
- July 1, 2024, 10:00 UTC: Deposits, withdrawals, and internal transfers of AGIX tokens will be disabled across all OKX platforms.
- July 1, 2024, 16:00 UTC: A full account snapshot will be taken, and the token migration from AGIX to FET will begin at a conversion ratio of 1 AGIX = 0.43335 FET.
This snapshot includes both funding accounts and trading accounts, ensuring all eligible balances are accounted for. It’s important to complete any necessary deposits or transfers before the cutoff times to avoid exclusion from the migration.
What Users Need to Know Before Migration
While the migration process is automated on OKX, users must take certain precautions to ensure their holdings are properly recognized:
- Pending Transactions Are Not Included: Any AGIX tokens in the process of being withdrawn or not yet successfully deposited at the time of the snapshot (16:00 UTC) will not be eligible for conversion.
- Subaccount Balances Are Migrated Automatically: If you hold AGIX in subaccounts, the resulting FET tokens will be credited directly to your main account after migration.
- Minimum Holding Requirement Applies: Users with less than 1 AGIX (excluding open orders) will not be included in the migration process. This threshold helps streamline technical execution and reduce network overhead.
No user action is required to initiate the migration—OKX handles the entire process automatically based on the snapshot. However, proactive account management before the deadline is strongly advised.
Understanding the AGIX to FET Conversion Ratio
The conversion rate of 1 AGIX = 0.43335 FET reflects the relative valuation between SingularityNET (AGIX) and Fetch.ai (FET) as determined by the project’s official roadmap. This ratio ensures fair value transfer during the consolidation of AI blockchain ecosystems.
For example:
- 10 AGIX → 4.3335 FET
- 100 AGIX → 43.335 FET
- 1,000 AGIX → 433.35 FET
This ratio is fixed and will not change post-migration. Once converted, FET tokens will be available for trading, staking, or withdrawal after the relisting announcement from OKX.
Post-Migration: What Happens Next?
After the migration is complete:
- The FET token will resume trading on OKX spot markets.
- Users can withdraw, deposit, or trade FET normally.
- Historical AGIX balances will no longer be active on the platform.
OKX will announce the exact relisting time for FET through official channels. Users are encouraged to monitor their accounts and notifications for updates.
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Frequently Asked Questions (FAQ)
Q: Do I need to manually convert my AGIX to FET on OKX?
A: No. The migration is fully automated. As long as your AGIX is in your OKX account before the snapshot (July 1, 2024, 16:00 UTC), it will be converted at the official rate.
Q: Will I lose my tokens during this migration?
A: No. Your AGIX holdings will be securely converted to FET based on the 1:0.43335 ratio. Ensure your tokens are in your main or funding account before the deadline.
Q: Can I still use AGIX after July 1, 2024?
A: After migration, AGIX will no longer be supported for trading or transfers on OKX. The new standard will be FET within the merged ecosystem.
Q: What if I have less than 1 AGIX in my wallet?
A: Balances below 1 AGIX (excluding open orders) are excluded from the migration due to technical and economic efficiency considerations.
Q: When can I trade FET again on OKX?
A: Trading will resume shortly after the migration completes. OKX will publish an official relisting announcement.
Q: Is this migration related to the ASI token launch?
A: Yes. This step is part of a larger integration involving AGIX, FET, and the new ASI token, aiming to unify AI blockchain efforts under a single framework.
Final Thoughts and Risk Reminder
While token migrations like this present opportunities for ecosystem growth and innovation, they also carry inherent risks. Digital assets are highly volatile and speculative. Prices may fluctuate significantly during and after migration events.
OKX provides this information for educational purposes only and does not offer financial advice. Always conduct your own research and assess your risk tolerance before engaging in cryptocurrency trading.
For further assistance, users can visit the OKX Help Center or engage with community support channels. Stay informed, stay secure, and make empowered decisions in the evolving world of decentralized AI and blockchain technology.