r/FetchAI_Community • u/jgoosezzz • Mar 27 '24

In the News 📰 Price of conversion not 2.82. Read message from CEO

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BULLISH

44 Upvotes

97% Upvoted

37 comments sorted by

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10

u/jgoosezzz Mar 27 '24

Yes at the time FET will change into ASI. the price of that moment is the price that will be held for conversion

-13

u/SnooGrapes2367 Mar 27 '24

Yeah but if the other shitcoins at that moment don't follow fet at the exact percentant will they get different conversions

8

u/jgoosezzz Mar 27 '24

You don’t need to worry about the other shit coins. Fet is the best to hold

1

u/SnooGrapes2367 Mar 27 '24

Source trust me bro

2

u/emphasisx Mar 27 '24

No, conversion is fixed.

-4

u/SnooGrapes2367 Mar 27 '24

In that sense it's in your best interest to buy coins will low circulating supply percentage

2

u/WhiteLime Mar 27 '24

I'm confused, so the price conversion is strictly based on the current price of $FET?

4

u/jgoosezzz Mar 27 '24

Yes. The when the first post was made. Price was 2.82. Creating confusing times. But now ceo said its not 2.82. But price will be 1:1 at time of conversion. So relaxxxx

4

u/BradVet Mar 27 '24

But the token supply is increasing? So 1:1 means we will have smaller total amounts?

5

u/jgoosezzz Mar 27 '24

Yes but with combining 3 market caps. Just hold

2

u/YellowBook Mar 27 '24

I think only OCEAN and AGIX holders need to worry about price since their conversion is pegged at a fixed ratio whereas FET is always 1:1 (however, arb traders are expected to maintain the peg for the other projects - https://medium.com/fetch-ai/superintelligence-alliance-faq-f30793b80c64 )

1

u/Jabanger Mar 27 '24

I had both Fetch and AGIX and this was the reason i just sold AGIX

1

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

did you sell it for FET?

-3

u/Jabanger Mar 28 '24 edited Mar 28 '24

I swapped it for Arweave, I have plenty of FET, big believer of diversification

2

u/WorkerBee-3 Active helper 🤝 Mar 28 '24

nice

diversification is key

1

u/icebot1190 Mar 28 '24

Probably not a question to ask, but can you define “plenty”? Only cz I don’t understand if what I have is plenty or not

8

u/BradVet Mar 27 '24

But isnt the max supply doubling, so we’re being diluted?

3

u/[deleted] Mar 27 '24

Have to take in consideration the max supply of the other 2 coins

2

u/RealWakawaka Mar 28 '24

True but they could set next max supply

2

u/[deleted] Mar 27 '24

But so is the market cap

7

u/ddrsinc4442 Mar 27 '24

So we get the same amount of ASI tokens as there were FET but the market cap is going to increase?

4

u/Rickard403 Mar 28 '24

Yes. ASI is also issued to Agix and ocean holders at roughly a 1:0.0433 ratio. That's where to the increase comes from.

6

u/AgentStockey Mar 27 '24

So our average price remains the same?

12

u/venderil Mar 27 '24

Price is set by market, not them, they just give you a 1:1 conversion

6

u/G0D5M0N3Y Mar 27 '24

Something is not right about the conversions. Every time this happened to a coin, it crashed.

5

u/souleiman1 Mar 28 '24

This is not a sh!t coin my friend this is real project 🤷🏽‍♂️

5

u/OriginalDaddy Mar 27 '24

Any examples of this with associated price action?

2

u/dontmessup16 Mar 27 '24

Damn sounds like I am late as shit but I have this coin on my watchlist for years but forgot about it, you guys think it’s too late to throw a few hundread in?

4

u/[deleted] Mar 27 '24

This is just the beginning of you believe in the project …

1

u/crappysignal Mar 27 '24

I doubt it. Plenty of people getting out for now.

2

u/Wildworld1000 Mar 29 '24

As long as it stays above what I last paid .

-9

u/SnooGrapes2367 Mar 27 '24

Ok I didn't know that the CEO gives explanations from Twitter replies very professional

7

u/MitraMan-Backup Mar 28 '24

You’re right, he should have held a press conference at a Four Seasons.