Fetch.ai Implements Automatic Conversion for Staked $FET Tokens

Fetch.ai has announced a significant upgrade for holders and stakers of $FET tokens on its mainnet, converting them automatically to native $ASI assets.

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Fetch.ai Mainnet to Convert Staked Tokens Automatically to Native $ASI Assets

Fetch.ai recently announced a major upgrade for holders and stakers of $FET tokens on its mainnet, which will automatically convert their tokens into native $ASI assets.

According to an announcement by the project on its X account, this conversion will be executed seamlessly once the upgrade is complete. While the upgrade will involve scheduled network downtime, Fetch.ai assures users that their natively staked funds and rewards will remain secure throughout the transition.

? PSA for https://t.co/kJ9URVpOul Community Members

If you're holding or staking $FET on https://t.co/kJ9URVpOul's mainnet, your assets will convert automatically to native $ASI. The conversion will be complete after the upgrade has passed.

— Fetch.ai (@Fetch_ai) June 28, 2024

For $FET holders on exchanges that do not support this merger, Fetch.ai assures the safety of their funds. Once the conversion portal becomes operational, these users will have the option to manually convert their tokens. The company also plans to provide ample resources to ensure a smooth and straightforward transition for all users.

Fetch.ai emphasizes that there is no need for panic or rush decisions regarding the conversion process. Support for any queries or assistance can be found on Fetch.ai’s Discord, Reddit, or Telegram channels. Users are encouraged to access these platforms through Fetch.ai’s official website to ensure security.

The automatic conversion of staked tokens marks an exciting development for the Fetch.ai community, promising enhanced functionality and opportunities within the network. As Fetch.ai prepares for this milestone, community members eagerly anticipate the benefits and efficiencies the conversion will bring.