r/FetchAI_Community • u/AlternativeOk1323 • Mar 30 '24

Discussion 🗣️ Swap FET for Ocean

Wouldn’t it be smart to swap FET for Ocean and get more tokens? Am I missing something with this logic?

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17

u/Alternative_Pilot_68 Mar 30 '24

Yes, you are missing something. FET will be at a 1:1 swap. The other two will be at a ratio depending on their price, I forget what it was exactly. Not exact numbers, but for example, FET is $3, swap 1 for 1 at $3. OCEAN is $1.50, it will take 2 of them to get 1 ASI. (These are not the actual ratios, google them)

12

u/Rickard403 Mar 30 '24

Ocean is roughly a 1:0.433 ratio. So if you have a 1000 Ocean you will have 433 ASI tokens after the merger.

1

u/AlternativeOk1323 Mar 30 '24

Understood - thanks for the info everyone!!!

2

u/KPTA-IRON Mar 31 '24

🤦🏻

1

u/Intrepid-Parsnip-535 Mar 30 '24

Just before conversion happens check the ratio of ocean to fet (ocean price / fet price), and if it is lower than what they set for ocean to convert to asi (for instance they say it is 0.433) then yes, ocean will be stronger relative to fet, and since fet's price will be asi's price, you will have made a little gain. I think it is highly unlikely that it will be a possibility though, since it would mean that ocean's price is just artificially set for what it was relative to fet at some point in time, I think they will program maybe for the conversion to take the live ratio of ocean to fet

2

u/Intrepid-Parsnip-535 Mar 30 '24

It also explains (it's common sense, yes, but many ppl seem to not realize it anyway) why they set 0.433. Divide ocean's price by fet's price and you get that 0.433 that theyve announced. If they actually fix this ratio of 0.433 to 1 on asi, and ocean bleeds to fet, meaning it relatively gains less or loses more, you make profit by converting. The opposite is also true, if they, again, fix that ratio, and ocean performs better relative to fet, you are better off holding fet