Is Assimilate Essence legal in Standard, Modern, and Commander?

Assimilate Essence is legal in: Modern, Pioneer, Legacy, Vintage, Commander, Pauper, Historic.

What type of card is Assimilate Essence?

Assimilate Essence is an Instant. Its oracle text reads: "Counter target creature or battle spell unless its controller pays {4}. If they do, you incubate 2. (Create an Incubator token with two +1/+1 counters on it and "{2}: Transform this token." It transforms into a 0/0 Phyrexian artifact creature.)"

Assimilate Essence

Instant

Counter target creature or battle spell unless its controller pays . If they do, you incubate 2. (Create an Incubator token with two +1/+1 counters on it and ": Transform this token." It transforms into a 0/0 Phyrexian artifact creature.)