eToroTeam @eToroTeam: "📢 UPDATE : The combining..."

eToro

Edited

📢 UPDATE : The combining of the tokens Ocean Protocol and Fetch.ai that was expected to take place today has not yet been completed. As a result, there may also be a delay in the execution of eToro’s closure of OCEAN and opening of FET positions, as detailed below. --------------------------------------------------------------------------------------------------- 🚀 New Integrated AI Crypto Token $ASI As you may have already heard, the Fetch.ai, Ocean Protocol and Singularity NET tokens will soon merge to create a new token: $ASI (The Artificial Superintelligence Alliance). The aim of this merger is to help develop decentralized AI technology, in order to make it more accountable to shareholders and less controlled by large companies. The first step in creating this new token will begin with an initial temporary combining of $OCEAN and $AGIX into $FET, on July 1, 2024. ➡️ How will this work for eToro users? 1. As of 07:00 am UTC on June 30, 2024 eToro will cease trading of the OCEAN Protocol token. Please note that Fetch.ai (FET) will continue to trade as usual. 2. On July 1, eToro will convert your OCEAN positions to FET. Here’s how: Your $OCEAN positions will be closed, at a value of zero. This means that for the execution time of the FET to OCEAN conversion process, the cash value of this position will disappear from the equity amount in your portfolio. Shortly thereafter, we will open Fetch.ai (FET) positions for you (without any limit orders), based on the ratio of the closed OCEAN positions multiplied by the price of FET. The equity amount in your portfolio will then increase to reflect the cash value of the FET positions that we opened for you. 📢 Important note: If you do not wish your $OCEAN tokens to be converted into $FET, you need to close your $OCEAN positions prior to 07:00 am UTC on June 30, 2024. Note: The ratio of Ocean to FET is 1 Ocean equivalent to 0.43 FET. Example: Mike had 100 units of OCEAN in his portfolio, which were subsequently closed by eToro. As a result, the equity amount in his portfolio decreased by the value of these positions. Shortly after, Mike noticed that FET positions had been opened in his portfolio, causing the equity amount to increase to reflect the cash value of these newly opened positions. 🔊Stay tuned for more updates… - The eToroTeam

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FET

Fetch.ai

FET

Fetch.ai