Dear Traders,

Phemex will support the Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) token merge to Artificial Superintelligence (ASI) and take the deposit and withdrawal, and trading services for these three tokens offline, including spot, contract and margin trading. After the trading halt, if there are any related strategy (bot) trades active, they will also be immediately suspended and executed at the current market price.

Here is the offline schedule. Please be aware that the schedules for spot, contract and margin trading are different:

Merge Details

OCEAN and AGIX tokens will assume the ticker of FET at Phemex

All OCEAN and AGIX tokens will be swapped to FET at a ratio of:

1 OCEAN = 0.433226 FET;

1 AGIX = 0.433350 FET.

Spot Delisting

• 10:00 UTC on June 21, 2024 – The Deposit and Withdrawal will be disclosed and these three trading pairs will be delisted from the Phemex spot market. All pending trade orders will be automatically removed after the delisting time. Any withdrawal requirements after this timestamp should be submitted to our CS team at support@phemex.zendesk.com for further help. 



Contract Delisting

• 6:30 UTC on June 25, 2024 – Phemex will only support ReduceOnly orders for these three contracts.
• 7:00 UTC on June 25, 2024 – All orders and trading for these three trading pairs will be closed.
• All positions still open for these pairs after 7:00 UTC will be closed based on the asset’s average mark price in the 30-minute time period from 6:30 UTC to 7:00 UTC on June 25, 2024.

Margin Delisting

• 10:00 UTC on June 19, 2024 – Phemex Margin trading will suspend borrowing on the aforementioned margin pairs
• 08:00 UTC on June 21, 2024 – The AGIX/USDT, FET/USDT and OCEAN/USDT margin trading will be delisted. Phemex Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned margin pairs. These pairs will then be removed from Phemex Margin.
• Please note that users will not be able to update their positions during the delisting process. We strongly advise all users to close their positions and/or transfer their assets from their Margin account to their Spot Wallet prior to the cessation of margin trading on June 21 at 08:00 (UTC). Phemex will not be responsible for any potential losses.
• If users have loans in FET, AGIX, or OCEAN within their Margin accounts, the system will cancel all open orders for these tokens and initiate the liquidation process to close positions in FET, AGIX, and OCEAN, and to repay the debts. Users should closely monitor their risk level to avoid potential liquidation that may result from the removal of the aforementioned tokens from the Margin account.

Thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.

The Phemex Team