OKX has officially announced its support for the upcoming AGIX token migration. This process will transition existing AGIX tokens to FET at a specified conversion ratio. Below, we break down the essential schedule, procedures, and important considerations you need to know.
Understanding the AGIX to FET Token Migration
The AGIX token migration is a significant event for holders, marking a shift in the token's ecosystem. OKX will facilitate this process to ensure a smooth transition for all users on its platform. The migration will occur at a fixed ratio of 1 AGIX to 0.43335 FET.
This move is part of a broader strategy within the project's development roadmap, aiming to enhance utility and integration within its network.
Important Migration Timeline and Key Dates
To ensure a successful migration, OKX has outlined a clear schedule. Adhering to these timelines is crucial for including your tokens in the process.
Trading Suspension and Order Cancellation
- Time: 8:00 am UTC on July 1, 2024
- Action: All pending orders for AGIX will be automatically canceled.
- Trading Pairs: The AGIX/USDT and AGIX/USDC spot trading pairs will be suspended at this time.
Suspension of Transfers, Deposits, and Withdrawals
- Time: 10:00 am UTC on July 1, 2024
- Action: All deposit, withdrawal, and transfer functions for AGIX tokens will be disabled. It is critical to complete any transfers well before this deadline.
Account Snapshot and Token Migration
- Time: 4:00 pm UTC on July 1, 2024
- Action: OKX will take a snapshot of all user accounts to determine eligibility for the migration. The actual token conversion will happen after this snapshot.
How the Snapshot and Migration Process Works
The snapshot is the most critical part of the process. It will capture the AGIX token balances in both your OKX funding account and trading account at the specified time.
- Tokens that are mid-withdrawal or not yet successfully deposited at the exact moment of the snapshot will not be included in the migration.
- Holdings of less than 1 AGIX (excluding open orders) will not be eligible for conversion.
- For users with AGIX in sub-accounts, the newly migrated FET tokens will be distributed to the associated main account.
Following the snapshot, OKX will handle the technical conversion on your behalf. You do not need to take any manual action to initiate the swap. Your new FET tokens will be credited to your account automatically. To explore more strategies for managing newly acquired assets, understanding market trends is highly recommended.
Frequently Asked Questions
Q: What is the conversion ratio for AGIX to FET?
A: The migration will occur at a fixed ratio of 1 AGIX to 0.43335 FET.
Q: Do I need to do anything to participate in the migration on OKX?
A: No, OKX will handle the technical process automatically. However, you must ensure your AGIX tokens are in your OKX funding or trading account before the snapshot time and are not in a pending transfer state.
Q: What happens if my AGIX tokens are in a sub-account?
A: The snapshot will include tokens in sub-accounts. After the migration is complete, the new FET tokens will be credited to the main account that owns the sub-account.
Q: Will fractions of AGIX tokens be migrated?
A: No, holdings of less than 1 full AGIX token will not be included in the migration process.
Q: Are my assets safe during this process?
A: OKX has implemented measures for a secure migration. The main risk involves ensuring your tokens are in your account and not in transit during the snapshot. Always be cautious of phishing attempts and only trust official OKX communications.
Q: When will trading for FET resume?
A: OKX will make a separate announcement regarding the resumption of trading for FET tokens and any new trading pairs once the migration process is fully complete and the network is stable.
Key Considerations and Best Practices
To ensure your tokens are successfully migrated, follow these best practices:
- Complete All Transfers Early: Ensure all AGIX deposits and withdrawals are finalized long before the 10:00 am UTC suspension on July 1.
- Cancel Manual Orders: While OKX will cancel pending orders, it's good practice to manage your trades proactively ahead of the suspension.
- Verify Your Balance: Double-check your combined AGIX balance across your funding and trading accounts before the snapshot.
Important Risk Disclaimer
This information is for educational and informational purposes only. It is not intended as financial, investment, or trading advice. The details provided herein, which may originate from third-party sources, are not guaranteed by OKX for accuracy or completeness.
Digital asset investments are inherently speculative and volatile. Prices can fluctuate significantly, and investors risk losing their entire investment. You must conduct your own research (DYOR) and carefully evaluate your financial situation and risk tolerance before engaging in any trading activity. OKX assumes no responsibility for any losses incurred. For more details, please review the official Terms of Service and Risk & Compliance Disclosure available on the OKX website.
For further assistance, you can always reach out to the OKX support team through their official support center.